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Show The National Enterprise , March 2, 1977 Page four Summary Shows Basic Earth in Good Status Half-Ye- ar Mining Highlights Freeze on U.S. Silver A Washington disSales patch said the Carter administration will put a moratorium on buying or selling stockpiled silver until further study is made. . .This was good news for silver producers in view of a new bill introduced in The New York quotation on spot silver promptly rose to $4.61 per ounce, highest since last July and silver stocks were in demand at higher prices. The price of gold, incidentally, rose to $141.25 per ounce, compared to the 1976 high of $139.10. . .The Baxter Letter featured a report entitled, Further Gains Ahead for Silver.. . .A Research Report on the 1977 Silver Stock Outlook,, issued by Shannon Pratt in the Northwest Investment Review, said that fundamentals point to higher prices for silver and silver stocks. He pointed out most stocks of mines whose principal value output is silver are located in Idaho's Coeur dAlene Mining District. Silver Dollar Mining -- President H.F. Magnuson reported to the Spokane Stock Exchange that the company had purchased 30,300 additional shares of Sunshine stock in the open market between January 17 and February 15 and now Sunshine owns 124,910 shares. Silver Dollar and Hccla, who own approxireand mately 10 spectively, of the Unit Area of thee Sunshine mine, are leading a proxy fight to turn 33, diary of Gulf Resources & Chemical Corp., has drilled into "significant and ec- onomic grade zinc-lea- d mineralization ground owned by Metaline Contact Mines northeastern Washingtons Metaline Mining District. Metaline Contact is controlled by Bunker Hill and Day Mines. DMI's Metaline Contact holdings total 31, 36 percent or 3,882,703 shares. Metaline Mining & Leasing is also the owner of 1,447,239 shares. Callahan Mining raised its annual dividend to 35 cents per share from 30 cents and declared a stock dividend 2 percent payable The disburse- March 30. ment will amount to $1,266,300 and will bring to total payments There are $2,351,700. Callahan shares outstanding. The Callahan-owne- d and Asarco-operate- d Galena mine in the Coeur d'Alene District is the nation's second largest silver mine behind Sunshine but currently is the largest underground silver producer because of the Sunshine labor strike. Fourth quarter earnings were 18 cents vs. 17 cents a year ago. 3,618,000 Summit Silver, Inc. one of the new over-the-count- er issues selling around 14 cents is incorporated for 5 million shares with 3.5 million outstanding. Holdings are in Montana, Idaho and Northeastern Washington. out Sunshine's management. Inert Ingot - European scientists were reported to have developed and inert which controls all Such a uranium wastes. discovery would be beneficial news for the uranium industry as it would take away the main objection of environmentalists to the construction of more nuclear power plants. ingot Mldnite Mines - The owner of 49 of the Dawn uranium mine in the Spokane Indian Reservation declared a dividend of 15 cents a share, payable March 10. Amounting to $618,525, the disbursement will boost the firm's dividend total to more than $14.2 million. Directors anticipate resuming quarterly dividend payments. . The Inflationary Survival Advisory Service recom- mended Empire Explorations, Evergreen Mining, Painted Desert and North Star. They say that the really big moves (ten times or more) will be made by the lower priced exploration issues. Ore Strike Bunker Hill Co.. Coeur d Alene Mining District subsi Zinc-Lea- d Solar Silver Mines, another new counter issued (22 cents) has 4,252,496 shares Holdings inoutstanding. clude 2040 acres under permit near Midnite on the increase in the weighted average of shares outstand- ing as of Sept. 30 to 3,754,406 from 2,616,195 in the like 1975 period, following the acquisition of Tanks Inc. and Beasley Hot Shot Service Inc., caused per share earnings to dip to 14 cents in the latest period from 18 cents previously, said G. W. Breuer, chairman. Brcuer said these results were achieved despite the fact that unusual legal amortization totaled - $1,029,000. or 27 cents per share, against $580,000, or 22 cents per share. BESSIs assets at the end of the latest period increased to $10,334,000 from $3,704,000. The working capital ratio was termed a satisfactory 1 .5 to 1 . "Gratified by results to Breuer date, elopment of its West Cole waterflood in Webb County, Texas. We are now drilling our first oil well, which will be followed by a gas well, see $2,681,000 from $1,373,000. Oil and gas sales totaled $702,000 in the latest period against $711,000, while the petroleum services division No provided $1,322,000. comparable figures are available. Consulting and management service fees were reported at $488,000, most of which came from BESSIs Indonesian subsidiary, compared with $659,000 in 1975, when a contract was com- Breuer said that funds from operations - adding back income taxes, depletion, depreciation and non-payab- le test the Cotton Valley formation underlying the Poole Unit in Bienville Parish, Louisiana, is due to start March 1 of this year. This well in which BESSI owns a six percent working interest, will be drilled to about 12,000 feet. Breuer said BESSI anticipates the refinancing of debt to provide its long-terfor expandfunds additional ing domestic oil and gas operations and petroleum services. m INVESTING IN THE If GREAT NORTHWEST. ... FOR THE FIRST TIME. A ANALYZES DEFINITIVE BOOK THAT EXCITING INVESTMENT OPPORTUNITIES IN THE DYNAMIC, RESOURCE-RICSEVEN STATE REGION OF THE PACIFIC NORTHWEST (INCLUDING ALASKA). NOW H ABOUT THE AUTHORS. INVESTING IN THE GREAT NORTHWEST' is a new approach to Investment guidance, bringing together In 320 entertaining and readable pages information Indispensible to any businessman Interested in this region. Discusses over 200 public companies over 2 billion shares of stock Over annual sales Paying over $1 billion $30 billion annual dividends and Interest With SHANNON P. PRATT Is Editor el a eyndlealed a aaLaaU wsiwsp on nwnIvh RiwMig mm i Oufde. a mcogntoedeapert on corporal valuation. Ha hotda a daclerale In Nam Indiana UMvaraNy, la a Certified Financial Planner, and Skadar of the feivaaUmnl AnHyata Camar al Portland Stala U m "A anal unuaual aflart am Inportanl malarial tor book. A auar, Tha OREQONIAN. "The author aaa many maaona why tha Narthamal ahotdd eonflnua la ba a aound and grating region tor hrvaalmenIhinde.Thera'e no raaaon la dtaagraa." Dan CoughHn. tooHto. $9.95 Hard Cover $6l95 ORDER Soft Cover TODAY AVAILABLE AT MOST BOOK STORES OR ORDER FROM: Willamette Management Aaaoclatea, Inc. 220 S. W. Alder Street Portland, OR 97204 Pleaae Bend me coplea of INVESTING pleted. Stressing the significance of cash flow to a young exploratory company, A well to JUST PUBLISHED and accounting expenses were incurred in the acquisition transactions. The acquisitions became effective last June 1. Gross revenues for the latest period rose to said, "BESSI is starting full dev- three additional oil wells and several injection wells. Day Mines Earnings in the last three months of 1976 were $335,009 or 12 cents per share compared to a net loss of $182,795 or 6 cents a share a year earlier. For the 1976 year, net profit was $1,566,905 or 54 cents per share vs. a net loss of $736,333 or 25 cents a share in 1975. The sharp turnaround was due to the 146 percent increase in the com- LAWRENCE IL HOSE la a nadanaWy known aaeuray analyal and financial anMar and ama Director of Haaaanfi for a Horthaaat alock brokerage Inn far a number of yaara. Ha la a mambar af Via Denver Sacfafy of Security Analyau and haa had yaara anpaif ana ki the bweetmenf buabmaa. Naa la audmr af dm book, -f- cMoaUng bi Lew Htak growth Campanlaa." panys Leadville, Colo., op- erations and production of Silver ore there this year is targeted for a 54 percent increase. DMI reached a 3 year high of $10.50 this week. Asarco - 1976 net income was $42.3 million or $1.58 per share vs. $25.4 million or 95 cents per share a year ago. Fourth-quarte$11.8 million or 44 cents a share vs. $596,000 or 2 cents a share in the corresponding 1975 period. HealthGaidefv SM WEST FIFTH SOUTH I IN THE GREAT NORTHWEST: hi hard cover $9.95 piua 50 mailing each. In aoft cover $6.95 plua 50 mailing each. Name Addreea City IF SALT LAKE CITY 14101 (SOI) I I I . Zip . NOT SATBFED. RETURN BOOK WITHIN 30 DAYS FOR A REFUND. reservation. rf -- Gains in gross revenues, net income and assets were reported by Denver-base- d Basic Earth Science Systems Inc. (OTC 2.00, 2.50). Company operations for the six months ended Sept. 30 produced net earnings of $541,000, up from $461,000 in the like 1975 period. An DENVER MEDICAL COMPUTER SYSTEMS AND RURAL HEALTH SERVICES 1 The computer has a greater potential in patient care than any other invention, including the stethoscope and the X-r-ay machine." Mr. Ken Hanson American Medical News HEALTHGARDE CORPORATION Medical Computers for the Modern Hospital OUR NASDAQ SYMBOL IS HGRD I |