1917 250 Shares Stock Certificate Golden Cycle Mining & Reduction Co Grades. Golden Cycle Mining and Reduction Company was a mining company in Colorado City (now Old Colorado City) in El Paso County, Colorado. The company was incorporated in West Virginia and was listed on the Colorado Springs Exchange. Albert E. Carlton was part owner of the Golden Cycle. Directors included Carlton, Spencer Penrose, Richard Roelofs, H. McGarry, L.G. Carlton, Bulkeley Wells. By 1920, the company had decided to build a power plant near the Pikeview coal mine to supply power and light to Golden Cycle's subsidiaries nearby. Most of the Cripple Creek properties of the Cripple Creek & Victor Gold Mine were consolidated into the Golden Cycle Mining and Reduction Company, and the Carlton Tunnel was completed in 1941. This 6.5-mile-long tunnel drained the district down to 3,000 feet. The roasting-cyanidation Carlton Mill opened in March 1951. This mill also tested the first carbon adsorption-desorption process.