Koyle Mining Company

Relief Mine Company

Company type	Private
Industry	Mining
Founded	1890s; incorporated 1909
Founder	John Hyrum Koyle
Headquarters	Salem, Utah , United States
Products	None (non-productive mine)
Number of employees	Minimal (limited annual operations as of 2016)
Website	reliefmine.com

The Dream Mine, also known as the Relief Mine, is a non-productive underground mine situated near Salem, Utah. It was founded in the 1890s by businessman John Hyrum Koyle and formally incorporated in 1909. Koyle, the originator of the enterprise, claimed through prophecy that the mine would offer financial assistance to members of the Church of Jesus Christ of Latter-day Saints (LDS Church) prior to the Second Coming of Jesus Christ. His prophetic assertions sparked controversy and ultimately led to his excommunication from the LDS Church in 1948.

Following Koyle’s passing in 1949, mining activities halted during the 1960s. Nevertheless, adherents known as "Dream Miners" have preserved the mine’s upkeep and continue to trade its shares as recently as 2016. Although no precious metals have been extracted so far, investors remain confident that the mine will produce gold before the prophesied Second Coming, thereby fulfilling Koyle’s predictions.

John Hyrum Koyle

Born on August 14, 1864, in Spanish Fork, Utah, John Koyle experienced a significant prophetic dream in 1886 involving the discovery of a lost cow with a damaged horn—an event that strengthened his faith in the restored gospel of the LDS Church. Historian Kevin Cantera has drawn connections between this experience and traditional LDS interpretations of Joseph Smith's First Vision.

Between 1888 and 1891, Koyle served as a missionary within the Southern States Mission, gaining a reputation for his visionary dreams. On August 27, 1894, he dreamed that the Angel Moroni disclosed to him a hidden Nephite mine containing sacred artifacts such as the sword of Laban, Urim and Thummim, and golden plates. The angel instructed him to reopen and enlarge this mine to provide economic relief during an impending financial crisis and to aid in the LDS Church’s eschatological gathering of Israel.

Historical setting

Throughout Koyle's era, the LDS Church was progressively assimilating into mainstream American religious life, highlighted by events such as the 1890 Manifesto and the Reed Smoot hearings, which addressed issues like polygamy. Early twentieth-century church authorities placed renewed emphasis on Joseph Smith's First Vision while minimizing his mystical interpretations and early involvement with treasure seeking.

Historian D. Michael Quinn viewed the Dream Mine as an outgrowth of early Mormonism’s magical worldview, echoing Joseph Smith’s "superstitious and schismatic" tendencies. The LDS Church’s resistance to the mine symbolized a repudiation of this outlook. Folklorist Wayland Hand proposed that Koyle may have been influenced by financial difficulties faced by the LDS Church during Wilford Woodruff’s presidency (1889–1898), when anti-polygamy legislation and infrastructure debts strained church resources. It is likely that Koyle envisioned the Dream Mine as a remedy for these monetary hardships.

Construction and incorporation

On September 17, 1894, Koyle along with five partners commenced excavation on the mountain site revealed in his vision. Positioned east of Salem within the Wasatch Mountains at Knob Hill, the mine was officially incorporated on March 4, 1909. The company issued 114,000 shares; approximately 42,000 shares with a $1 par value were offered publicly at $1.50 each. Prominent LDS leaders including J. Golden Kimball, Matthew Cowley, and Carter E. Grant (a nephew of Heber J. Grant) were shareholders in the Dream Mine. In 1910, Koyle was appointed bishop of Leland ward. By 1913, mining operations had reached a depth of 1,400 feet with pumps installed to manage flooding.

On January 10, 1914, Koyle recounted a visionary dream where two members of the Three Nephites designated the Dream Mine as a "Relief Mine," intended to provide financial support following catastrophic events preceding the Second Coming. The mine was described as functioning like a "City of Refuge," ensuring material survival until plural marriage and the United Order could be reinstated. Additionally, these messengers cautioned that false accusations and opposition from LDS Church authorities would confront the mine.

Resistance from the LDS Church

In 1913, James E. Talmage, a Mormon apostle and geologist, analyzed ore samples from the Dream Mine and concluded they held no value. On August 16 of that year, the LDS Church released a statement entitled "A Warning Voice," advising against investing in Koyle's Dream Mine and highlighting that such claims often lack credible evidence.

Just five days afterward, Koyle was removed from his position as bishop and replaced by his supporter Lars Olsen. This cautionary stance was later reaffirmed by LDS Church president Harold B. Lee in 1970.

Due to opposition from the Church, the Dream Mine ceased operations in 1914 but resumed in September 1920 to settle a $2,000 debt owed to the Spanish Fork Church Co-Operative. Mining activities continued with the main shaft reaching significant depths and extensive drift and shaft mining totaling approximately . In 1928, Talmage once again publicly criticized the mine through articles published in the Deseret News.

Subsequent Developments

A small platinum find was reportedly made within the mine in 1929. Five years later, Koyle and his adherents constructed the "White Sentinel" ore mill near the Dream Mine site. Finished in 1936, it processed a single ore shipment valued at $103.03 before ceasing operations the following year. In 1933, geologist Frederick J. Pack evaluated mineral specimens from the mine and deemed them essentially worthless. The U.S. Securities and Exchange Commission conducted an investigation but uncovered no fraudulent activity; expenditures on improvements surpassed funds collected, and shareholders appeared content.

In 1947, Koyle faced an LDS disciplinary council and was instructed to renounce his revelations concerning the Dream Mine or face excommunication. He signed a notarized disavowal published in the Deseret News, although he later asserted that this was done under duress. The LDS Church officially excommunicated him in April 1948. Koyle passed away in May 1949 in Payson, Utah.

The Relief Mine Company

In 1962, Quayle and Sheldon Dixon established the Relief Mine Company as a successor to the Koyle Mining Company. This new entity continued exploratory work into the 1960s until encountering an impenetrable caprock layer that rendered further excavation financially unfeasible. Presently, the company derives income from a rental residence, a gravel operation, and an orchard irrigated with water sourced from the mine. Geological assessments during this era identified only limestone and quartzite deposits without any metallic minerals.

The Internal Revenue Service audited Relief Mine Company in 1981. By 1984, it boasted over 6,000 shareholders; by 2010, at least 706 remained active, with share values reaching up to $10 but trading between $30 and $35. As of May 2018, company reports indicated more than 7,500 active stockholders.

During the early 2000s, some investors in the Dream Mine formed online forums to discuss Koyle’s prophecies. Around the time of the 2016 U.S. presidential election, speculation arose among some members that Donald Trump’s campaign might fulfill a prophecy related to a decline within the Republican Party.

As of 2016, mining activities were limited to minimal annual operations necessary to maintain Utah mining claims. The company’s main revenue streams continue to come from its orchard, rental properties, and gravel extraction business.

External links

• ReliefMine.com, the official site
• "Apocalyptic Paydirt in Utah," authored by Eric S. Peterson for Salt Lake City Weekly