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Show October 6,1969 OIL & MINING JOURNAL . 'i Uranium Services gets gold claims John L. Anderson, president -- of Uranium Services, Inc., Salt Lake City, has announced acquisition of a 2 per cent overriding royalty in 18 claims (360 acres of land) adjoining the open pit gold mine of Newmont Corp. The claims, known as the Golden Boy claims, are located just 1,000 feet from the east end of the famous mine. The open pit Carlin mine of Newmont has produced $2b slhipsIkDDn Gypsy Blair Mining Co. in the same area. The Hidden Splendor, a Delta, Utah, mine, has been a heavy producer of uranium. Anderson said Uranium Services is declaring a stock dividend of one share of Monument Uranium on each 10 shares of Uranium Services stock. He said the dividend will be paid on Nov. 1, 1969, to stockholders of record Oct. 1, 1969. million in gold since it was Anderson said opened in property will be drilled by Utah Minerals Lease Co. which owns adjoining property. Anderson said Uranium Services has also acquired six claims known as the Honey Bear 12. daims two miles northwest of the Hidden Splendor Mine and another group of 18 claims nine "liles north of Hidden Splendor, called the Hondo, and has leased the Lost Sunday claims from Pge5 i few By Chuck Hayward Between the Utah uranium booms of the early 50s and late 60s, times were tough for such southeastern Utah land leasees as Monte Cristo Corp. In fact, most of the small uranium firms which blossomed in the early 50s expired completely. It is therefore with considerable pride and satisfaction Bill would limit import of potash that Monte Cristo President Richard Minasian, diminutive court reporter and special federal agent, reflects on the faith with which Monte Cristos stockholders and officials held on during the lean years. Now, although depressed potash market conditions temper Mr. Minasians jubilation, Monte Cristo Corp.s future appears G. Moss, Contiguous to Texas Gulf Sulphurs potash plant and holdings southwest of Moab, Utah, Monte Cristo owns leases, permits and has made applications for permits on 17,000 acres of potash lands which contain some of the finest potash deposits in the Cane Creek area, according to Minasian. Currently available information from test holes drilled recently places the reserves on Monte Cristos lands at approximately 200 million tons, he said. WASIIINGTON-Se- n. D-Uta- h, Sen. Moss said. consumption, In 1968, imports jumped to 53 Frank chairman of Co., consumption, Subcommittee, is cosponsor of a bill which would place a limit on the amount of potash that can be imported into the United States duty free. In I960, total imports of potash amounted to only nine The result of this tremendous increase has been the shutting down of domestic potash industries and the laying is important to Utah, with the Potash production Vananda gets oil process (Continued from Page 1) the rest of all ' of the The world. non-Commun- ist black, 6ticky tar sands like in sedimentary beds up to 200 feet thick, spread across an incredible 30,000 square miles, Phillips noted. tar sands, The called Athabaska sands in Canada, look in consistency a bit like coffee grounds mixed with molasses. Previously, only a separation Bonneville Division, improving its potash brine operation at Wendoyer, and the Lithium Corp. of America and Chemsalt, Inc., completing facilities at Great Salt Lake. Total annual production off of potash miners. cent .'of domestic per Texas Gulf Sulphur Co. plant near Moab, the Kaiser Chemical of domestic Mining per cent he claimed. the Senate bright indeed. process using hot water, steam, and 900 degree heat and large amounts of solid coke, was believed effective. Major Oil's extraction process is said to be simpler, faster and considerably cheaper than the heat flotation process. A plant is currently being set up on Major Oil s property in the Roosevelt-Duchesn- e area which is expected to produce 1,000 barrels a day. capacity in Utah is reported at 700,000 tons a year, Sen. Moss said. CORPORATIONS ORGANIZED & REPRESENTED Resident Agents Stock transfer agents SEC submissions NEVADA Corporate Management Company 1410 South 4th Street Las Vegas, Nevada 89104 (702) 382 7030 BETTER SERVICE BETTER SERV This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is made NEW ISSUE BETTER $ FOR UTAH RESIDENTS ONL Y 6,250,000 SHARES BETTER HI FASHIONS, INC FASHIONS, INC., was organized for the purpose of designing, manufacturing, buying, selling, importing, and exporting wigs, both men's and women's hair pieces, and all types of clothing and wearing apparel. HI & COMPANY Offering Service in the 0TC market PRICE PER SHARE 2 Cents Stocks & Mutual Funds Copies of the Offering Circular may be obtained from the Underwriter. 210 Kearns Bldg., SLC, Utah 521-35- 62 And Complete Facilities in Ogden 2476 Washington Blvd. 399-556- 6 m With the demand expected to catch up and surpass available supply of potash within five years, the Monte Cristo finds could become extremely valuable in terms of employment and economic development for the entire state. Although the properties cannot be mined by present conventional underground methods, demand solution mining used successfully in Canada should work equally well in Moab, Utah, Mr. Minasian has decided. He said a pilot plant would be set up soon to determine the feasibility of the solution method. He said development of the potadi ores and construction of a full-siz- e potash plant would cost upwards of $50 million and a large company would be sought for this phase. In the meantime, the firm is planning a $2 million stock issue to continue exploration and development. Work thus far has been financed by a $300,000 stock issue completed in Feb. 1969. only by the Offering Circular. BETTER SER BETTER SE Monte Cristos drill hole at Township 27 S. Range 22 E., Sect. 20 disclosed a 25-- ft tliich lied that assayed 20-2-5 per cent K20. FIRST FIDELITY UNDERWRITERS 249 East Fourth South Salt Lake City, Utah 521-680- 0 Born in Turkey, Mr. Minasian came to the U.S. when 18 months old and grew up in Fresno and San Francisco, Calif. He moved to Utah in 1954 in connection with acquisition of some uranium properties after a career as a schoolteacher, reporter for the war crimes trials in Japan in 1947 and a special agent for the U.S. government He formed Monte Cristo Corp. and took up residence in Moab. After some 13 years of hope, frustration, mixed with some success, Mr. Minassian discouragement now anfles often and broadly and talks about faith and tenacity. -- From INTERMOUNTAIN INDUSTRY CORRECTION: In an article in our Sept 15 issue we said in a headline .that New Products Corp. and Atomic Fuel Extraction Corp. were planning a merger. Actually, New Products is acquiring the assets of Atomic Fuel, as the attorney for New Products pointed out to us. |