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Show December 23. 1955 The Western Mineral Surrey. Salt Lake City. Utah Page 4 Elk Ridge Plons $56 Million In Assets Jan. Merger With Federal Long Range Program Outlined By Federal With a treasury balance of $180,-00An initial progress report mailed today to stockholders of Elk Ridge Uranium Corp., has the unusual distinction of Federal Uranium Corp., summarizes the companys large scale possessing a cash balance of a uranium holdings and presents a balance sheet giving effect 0, little more than the original investment from the underwriting earlier in the year. Elk Ridge will merge with Federal Uranium Co. on Jan. 16. According to W. H. Gibson, president of Elk Ridge,, sold the public 610,000 shares of stock which b nought in $183,000. The .total of the original under writing was 1,245,000 shares. The company according to Gibson spent over $100,000 and then earned $100,000 plus a little more represented in bonus money from the AEC. A record of good financing has to the merger of 10 companies last April. Total assets of Federal are valued at $56,000,000 in the balance sheet. Claims held by Federal located in the Colorado Plateau and in Canada are described as totaling 43,520 acres. Commenting on the long-rang- e outlook for Federal, W. D. Nebe-keJr., president, said: "We intend to .expand .our holdings through acquisitions, either direct or through additional mergers. With the counsel of geologists and engineers, either employed or re tained by us, we are constantly investigating and eval u a t i n g scores of acquisition opportunir, that were merged into Federal tity of our holdings. Along with this we are making plans to obtain adequate financing to enable us to carry out these ambitious plans. "Using our present strong position as a base, we plan to develop to the fullest the companys enormous potentialities. To be on the threshold of a new industry is always a challenging situation. When the industry has limitless possibilities for the service of mankind, that challenge is immeasurably increased. Federal is one of the nations major uranium companies, with seven mines in production and three mines in various stages of preparation, according to the re- In this same area, Federal Is optimistic outlook toward the uramining by contractual arrange- nium industry. Fault Lease ments its "Scarcely a field of human endeavor and human hope will be group. Federal has two mines in oper- unaffected when the full possiation in its Glen Williams group bilities of nuclear energy are atin the Haystack Mining District tained. Everyone who takes part near Grants, N. M. This property in todays pioneering phase of the is now producing at a rate of 600 uranium industry is helping in The report lists Federals Ran-do- n tons a month, having a gross val- the advance toward these goals. mine in the Big Indian dis- ue of about $12,000 a month. Federal Uranium is proud to as San Juan Utah, county, trict, The report concludes with an share in that advance. one of the firms major properties. Hecla Mining Co., operating the Randon mine under contract TELEVISION SERVICE AND SUPPLY to Federal, has advised Federal indicated reserves that there-ar56 East 17th South having a total value of more than $21,000,000. The firm expects proPHONE IN duction from this mine to reach 200 tons per day of high grade ore within the next few weeks. ANNOUNCING A NEW JR. PARTNER The report lists rpoduction of more than 300 tons a month from IN OUR BUSINESS two separate mining operations being conducted by Federals subsidiary, Plateau Mining Co. on NOVEMBER 17th A GIRL claims in the Yellow Circle Min. ing area in San Juan county. been established in uranium operations of the Utah area than that hung up by Elk Ridge. The company has been accepted into the gigantic uranium enterprise of Floyd B. Odium, on a basis ties. Our objective is to improve shares of Elk Ridge for of 3 one share of Federal. the quality as well as the quan port. LARSON INDUSTRIES OIL AND GAS URANIUM MINERAL REFINING 50-ac- re e URANIUM REFINING LEWIS H. LARSEN, President 21 HOTEL NEWHOUSE PHONE EL SALT LAKE CITY RES. IN 96 19 SEASON'S GREETNGS SEASON'S GREETINGS LOOK from THE PRESIDENT AND MEMBERS OF THE DRAPER P0ULTRYMEN DRAPER, UTAH Let ns show yon how losses can be tuned into profits. For further information send in cou- BOARD pon below. Ph. HU TWX-S- U 24 73 THE EGG BASKET OF UTAH" MAKE THIS A PROFITABLE XMAS WITH AN INVESTMENT IN HIS INTERESTS GAMMO METER Valley State Brokerage, Inc. 2250 So. State, Salt Lake City EMPRESS OIL AND URANIUM Please send Bulletin fo Name Address CORPORATION City State Seasons Greeting and Success to Our Friends in the Oil and Mining Industries nternational Harvester Company INTERMOUNTAIN HEADQUARTERS HEAVY DUTY TRUCKS GAS - DIESEL - PROPANE - For Complete Details on Any of Our 32 Models Heavy Duty Six Wheelers, Mail Coupon Below To: INTERNATIONAL HARVESTER CO. 409 WEST 4TH SOUTH SALT LAKE CITY. UTAH Dealer inquiries invited. SALES 1 NAME ADDRESS CITY The newest, most sensitive, and sturdiest counter for discovering radioactivity. Every model absolutely guaranteed to out perform any other counter of equal price. Prospect from auto or airplane. Over 1000 now in use. Other models at $239, $495, and $795. RENTALS SERVICE ON ALL MAKES HIGHEST TRADES ALLOWED ' ATOMIC ELECTRONIC ASSOCIATES : STATE : 45 East Broadway EM 79 |