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Show September 15, 1969 Like selling refrigerator to Eskimo Robert J. Rice, of said the system has proven itself workable and economical at the Hamilton Brothers site this A Denver firm has shipped freezing equipment to Alaska to all thing- s- permafrost keep-- of Rice-Mare- frozen. Permafrost is a deep ice-so- il Rice pointed out that when Alaska. Rice-Mar& Associates was given the job of designing a refrigeration system that would keep permafrost frosty, and the ek he speaks of the freezing system as "economical he's talking in terms of the money being spent in the Alaska oil search. Oil companies have found that drilling one Alaska well can cost $4 million, Rice said. The freight bill alone for one company's drilling site totaled $900,000, he noted. .W organization of consulting 0TC v.v v.v ..v. engineers delivered. Thawing of the permafrost is a consequence of the hot mud produced by drilling, and it can oil rig to cause a 400-to- n lean-a- nd keep on leaning. Hamilton Brothers Oil Co., Denver ran into the problem when it set up an exploration rig near the Arctic Circle, so it called upon Rice-Maie- k to solve SECURITIES INDUSTRIALS - MINING & OIL v.v v.v a .v. 1 MAKING A MARKET IN - AND INFORMATION ON: .V. v.v ..V. ..v. .v. WESTERN AMERICAN INDUSTRY OF NEVADA CLASSIC MINING BASIC EMPIRE I it. Rice-Mare- k summer. He said the top 30 feet of permafrost supporting the drilling rig has remained safely frozen. mixture that covers areas of the far north, and its thawing is a headache to oil exploration companies opeating in northern The system v.v v.v v.v ..v. v.v k designed for Hamilton Brothers consists of ethylene gycol, rubber hoses, steel pipes and two five-to- n chillers adapted by Haines Engineering Co., Denver. Western Airlines carried the GENERAL RESOURCES ENTERPRISE SECURITIES 410 S. 4th Street, LAS VEGAS, NEVADA I Fairbanks, Alaska, and helicopters hauled it in nets the last 80 miles. .1 1 1 (702)382-703- TWX (910) 0 397-685- 3 . i .a. Inin m mw$ nIMft tfln) fife y FOR AN ENTIRE YEAR OF ONLY 10 WEEKLY MINING & OIL INFO JUST CLIP AND MAIL THIS COUPON iiW m 9 9- nausHB P. 0. Box 19243, Salt lake City, Utah 84119 Please enter my subscription to the Rocky Mountain Oil Name 1 & MINING JOIMNAlj ; : Address City CHECK ONE: One Year $10 State Zip Code 3 years $21 1 By Chuck Hayward We read with interest a column by Charles J. Elia in The Wall Street Journal which quotes llmar Mikiver, veteran metals analyst at Paine, Webber, Jackson & Curtis, who confides his formula for earnings in today's stock market. Just play the cycle of such highly cyclical stocks as metals, and buy low and sell high. Not a terribly novel idea-ev- en he trite and naive, Mikiver admits-b- ut has recently analyzed more than a dozen major market swings since 1949 and concludes that the old bromide can be made highly workable when applied to metal stocks. Constructing a 'typical' metal stock from composite actions of copper, steel and mining stock groups, Mr. Mikiver finds a fairly consistent pattern. He thinks traders could profit from a is, buying on downswings cyclical approach-th- at and selling on upswings. The typical metal stock completes its own with a declining downswing market, he says. On the upswing, the metal stock forges ahead at a clip nearly double that of the market, reaching its. peak some three to four months before the market does. Then it stays abreast of the market on the next do it all over again. The peak of the downswing-t- o metal stock typically goes about 20 higher than the subsequent market peak, and the bottom on the downswing goes some 20 to 25 deeper than the market low. Mikiver concedes there is no 'typical' metal that put a few stock, and that there are exceptions ' or kinks in the concept-fexample in the 1966 market advance the steel stocks were up only 30 lagging behind a 71 market rise and gains of 95 and 85 in the copper and mining groups respectively. But his results are consistent enough to yield certain guidelines: Almost invariably, metal stocks bottom out at the same time as the market, he says. On the upswing, metal stocks tend to run ahead of the market, that is, to complete a larger gain in a shorter period of time. In 76 of the instances he studied, metal stock gains exceeded those of the market generally and the average gain for the metals was 20 above the overall market gain. More often than not, metal stock reach peaks several months ahead of the market, he observes, and there tends to be a period of varying length during which metal stocks move down while the market continues to move up. This collision-cours- e period could be used as an indicator of an approaching market turndown. By the same token, a simultaneous upturn in metal stocks and the general market in which metal stock gains tend to exceed overall market gains could signal the beginning of a prolonged bull market. Copper and mining stocks have declined faster this year than has the general market, Mr. Mikiver says; These drops closely match the 22.5 average drop of these groups in their past downswings, he adds, and may indicate that several copper and mining stocks now may be ck bottoming out. 9 9 2 years $18 chuckin' few neck-and-ne- CORPORATION .v. equipment from Stapleton International Airport to rn Page 3 OIL & MINING JOURNAL In view of the sizable recent declines in several copper and mining stocks, it now seems logical to expect the next majpr move to be up, he says. So there you have ow to get rich playing the metals market. We don't know all that much about the stock market, but if the price of metals is any indication of things to come on the market look for a spectacular rise. it-h- DllUivLilui Inquire about our special rates for mailing the journal directly to your clients |