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Show -- The Westers Mineral Survey, Salt Lake City, Utah Page 2 Booster Shot Pessimism about the future of the small exploration and AECs velopment company got the boost last week with the nouncement of an extended ore buying program. WESTERN MINERAL Plan Denver Forum Topic New Editorial dean- This week new plans were being told by uranium hunters from Crooks Gap, Wyoming to Albuquerque. The effects of the extension were starting to show. The initial production bonus is added incentive. Under the new program a base price for domestic uranium concentrates rather than ores, will be $8.00 per pound. In the case of isolated mines in new areas the initial production bonus will aid the small miner to ship his ore during the in early mining stages. This program has been a big factor keepfour years. ing small companies in the running during the past It is expected to stimulate added activity in die future. g pessimism Decided optimism replaces the current the this week. The next step is replace pessimistic attitude of the stock buyers, who stand to profit with the producers under the new program. slowly-creepin- U-Buy- ing SURVEY Ariz. Asbestos Deposits Study Now Available Arizona, . north Idaho was 23,177 tons. This UM, new operator in the Mount was only 5 per cent less than outSpokane district, reported discov- put for the entire 1954 year. The ery of autunite crystals from 40 of to 52 feet and from 40 to 62 feet ore yielded 2,400,975 pounds in the first two holes on property lead, 5,714,097 pounds of zinc, and next to the Daybreak mine. 54,514 ounces of silver, with a $1,000,-00SIDNEY MINING CO. gave gross value of more than nearis The new 2300 level stockholders their best annual reUranium port in the last three years. Al- ing its vein objective. from the started have though 1955 mining operations shipments San Juan in mine River Colorado were limited to less than eight months because of a strike, the county, Utah, a joint venture with firm had an operating profit of Mascot Mines. Nearly $100,000 $5629 before writeoffs compared worth of ore has been indicated with a 1954 operating loss of by drilling. Sidney has started acres $142,000. Net loss before adjust- prospecting work on .1400 ment of income tax for prior in the Mount Spokane uranium start a rayears losses was $57,180 vs. a district and soon will 1954 net loss of $227,103. Produc- dioactive anomaly found last fall tion from the Sidney mine in the on claims north of the Spokane Coeur d Alene mining region of Indian Reservation. AMERICAN LEDUC URANI- 0. NEW ISSUE Ml per share Officers reelected were Kneale, Nicoli vice president, Rocky Mountain Division; G. D. Murray, vice president, Gulf Coast Division; Hayes, secretary-treasureCarl B. Kendrick, assistant secretary - treasurer and McLane, general counsel. r; In. submitting .the .companys first annual report to stockholders, Kneale said the company had mover forward rapidly on a program of diversificatiton. CASHIN INCORPORATED 39 Exchange Place Stimulated by an increased income from operation, the coming year promises many opportunities Salt Lake City, Utah POTTER INVESTMENT CO. I I Address. City for accelerated drilling activity and an expanded program of exploration and acquisition of producing leases, Kneale said. 512 Atlas Building Salt Lake City, Utah MELVIN G. FLEGAL & CO. 26 West Broadway Salt Lake City, Utah UTAH GENERAL SECURITIES 306 Ness Building. Salt Lake City, Utah for two yeora; Pleaae mention Western Mineral Survey when writinf to advertisers. Advertising rates on application. Publisher a AIL L. 11 F. Editor CRXTCHLOW Contributing Editor wttj. AH news appearing In the Weston Mineral Surrey Is obtained from sources believed to be reliable but no responsibility is assumed for accuracy of statements. Reproduction of any material from this publication must bars written permission from the publisher. Mining Hi-Lit- es GLADSTONE had a 52,000-shar- e turnover on the Spokane Stock Exchange at one session following rumors of an ore strike by a lessee at its Stevens county lead mine. CLASSIFIED ADS ROYALTIES AND LEASES OIL AND GAS property is our second name. Tell us what you want. We perhaps have it. United Uranium Co., First National Bank Building, Tulsa, Oklahoma, Phone Gibson FOR LEASE OR SALE DO YOU WANT good mining properties? Then call or write us. We have a long list of satis- fied customers. United Uranium Co., First National Bank Building, Tulsa, Oklahoma, Phone Gibson Thl is neither an offer1 to buy nor sell these securities. Such offering Is mode only through the Offering Circular, available from the Underwriter. NEW ISSUE 5,500,000 SHAKES Mc-Lan- e, AN OFFERING CIRCULAR MAT RE 0RTA1NED FROM: Name 65.-0- 0 for one year. i Charles F. Hayes, Alfred E. A. J. Nicoli, Justin R. Querbes, Jr., Dwigbt J. Royer, Alex Singer, Albert Sglar and Howard Sober. in the exploratory stage. This is neither an offer nor a solicitation. Sales are made only through the offering Circular. s Subscription rates: 13.00 In addition to Kneale, directors reelected include H. L. Rowley, chairman; Earl G. Bateman, The company holds unpatented mining claims located in Fremont and Sweetwater Counties, Wyoming, and Daggett County, Utah. The Subway claims are located in the Crooks Gap, Green Mountain area, Fremont County, Wyoming. The company is acquiring additional unpatented claims located in Sweetwater County, Wyoming. The corporation is in the mining business and is presently Please send me a copy of youri FREMONT offering Circular. n has announced. Offering 16,500,000 shares Assessable of Common Stock-N- on PAR VALUE OFFERING PRICE 1870. low-iro- n Directors and officers of Rim-roc- k Tidelands, Inc. were reelected at the annual stockholders meeting recently in Shreveport, La., William C. Kneale, president, URANIUM CORPORATION HI Salt Lake City, Utah Entered ae oecond class matter at Salt Lake City, Utah, under Act ol March 3, y Rimroek Reports Election Results NE ADYEBTXSINa Bos 2608 HARRY B. ICIIXXR Eighteen asbestos deposits in recently, examined by the Bureau of Mines, are described in a report released today by the Department of the Interior. One of a series on the nations ternational requirements, the demineral resources, the report dismand for thorium and uranium cusses Arizona asbestos deposits development in Canada. which were not included in a 1955 Following the technical discus- publication on the same subject. sions at the Cosmopolitan Hotel It virtually completes coverage in Denver, some 250 of the conof known. Arizona chrysotile ferees will leave by special railasbestos deposits, the only domestour of roads cars for a two-dasource tic of asbestos the Colorado Plateau. fibers for electric covercable The tour will feature visits to the MiVada and Rattlesnake Pit ings. All the deposits described are mines near Moab, Utal a tour on unpatented mining claims and of ' the Uranium Reduction Co. most of them are on unsurveyed mill at Moab, tours of National land. However, their approximate Lead Company and Climax Uraare shown on several locations nium Company mills at Grand the in report. Junction, Colo., and barbecues at maps A of Information Circular Colocopy and Dead Horse Point, Utah, Chrysotile-Asbesto- s De7745, Monument. rado National of Arizona posits (Supplement to Full information regarding regInformation Circular 7706),. by istration, program, field trip, etc., is available by writing Confer- Lincoln A. Stewart, can be obence Committee, Denver Research tained from the Bureau of Mines Publications-DistributioSection, Institute, University of Denver, 4800 Forbes Street, Pittsburgh 13, Denver 10, Colo. Pa. It should be identified by number and title. Discussions will include: panels on Uranium Production; Demands for Atomic Energy; Atomic Energy as a Competitive Energy Source; and Related Aspects of the Atomic Industry such as in- Phone XU Church Street 431 . CIBCDXATIOM HSWS . nm arfgsERfcU LomiAiNa The new U.S. Government uranium buying policies will be discussed by Jesse C. Johnson, Director of the Raw Materials Division of the AEC, when he addresses the Uranium and the Atomic Industry conference in Denver on June 25th and 26th, by the Atomic Industrial Forum of NYC and the Denver Research Institute of the University of Denver. Johnson, who will speak at the conference banquet, Monday, June 25 at the Cosmopolitan Hotel, will discuss the meaning and effects of the new AEG domestic procurement program which establishes a government market for uranium concentrates until Dec. 31, 1966. Johnsons discussion of the new AEC policies will keynote the Uranium and Atomic Industry conference which is expected to attract some 400 leaders of the atomic and mining industries, the financial world, government and education to Denver. June 1, 1956 With operations or interests B cated in 10 states, offshore IH R lo- in the Gulf of Mexico and in Israel; the company expects to participate in further contract drilling and ex- ploratory work, particularly in the offshore field, Kneale added. URANIUM & OIL CO. Common Stock Non-Assessab- le Per Share OFFERING PRICE The company la In the oil and mining business and Is presently exploring lease in Wyoming. The owns mining property In Utah and oil leases In Montana and company Wyoming. EMPIRE SECURITIES C0RP. 31 1 South Main St. DA 2-05- 51 Salt Lake City, Utah PRINCIPAL UNDERWRITER EMPIRE SECURITIES CORPORATION 311 So. Main Salt Lake City, Utah Please send me a copy of the Offering Circular re- lating to Mobile Uranium and Oil Company. NAME ADDRESS CITY PHONE STATE... |