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Show June 2, 1969 OIL & MINING JOURNAL Page 5 1969 production shows gain Survey hints at gold According to the First Security Bank Newsletter, mineral production In Utah for the first quarter of 1969 differed cosld-erab- ly from that of a year ago when the strike against copper companies had closed not only copper hut some lead-zimines. Most metal production ths year Is at excellent operation levels. COVPER PRODUCTION In the first quarter approached the optimum operating levels of almost 25,000 tons per month. Domestic prices of copper had Increased to 44 cents a pound, foreign prices averaged 60 cents. LEAD AND ZINC production like that of copper Is considerably above year ago levels. Preliminary data Indicate lead production at about 4,000 tons per month and zinc at 2,500 tons per month. The new lead and zinc concentrator adjacent to the nc Pues point to year as stock piles built up a year ago have been depleted. COAL production for the first three months was just short of a million tons and was slightly belwo the levels of one year Burgln mine In the Tlntlc district was completed In March. Production from the mine Is Increasing toward the 800 ton per day goal by the end of the year. Production at the other mines has aso Increased. Prices of lead and zinc are both at 14 cents per pound at the leading markets. GOLD AND SILVER production In Utah, entirely by products of copper and lead zinc operations, During the first quarter unitized coking coal trains, both for U.S. Steel operations In Utah and the Kaiser Steel operations in California, were instituted. ago. CRUDE OIL production In Utah is womewhat higher. Gold production Is estimated at approx- totaled almost of 1968. about 6 percent. million barrels first quarter - up slightly from a. year ago. Crude oil delivered to refineries was up STEEL operations In Utah are FERTILIZER output in the first quarter was handicapped somewhat by lower prices. This applied especially to potash. Out above 80 percent of capacity with the operation of 8 open hearth furnaces. High level of operations are also at the pipe plants. Bookings and orders Indicate higher level of production for the second and third quarter of the for the marketing season look Is generally good with excellent soli moisture especially for the row crops. SEC suspends Federal Oil The WASHINGTON Securities and Exchange Commission has suspended trading In Federal Oil common Co. stock. over-the-coun- ' ter The action was taken to pro- tect investors, said the SEC. The commission said the company has total assets valued at $11.42," adding that false and misleading Information has been disseminated about the oper-tioand financial condition of Federal Oil, a Salt Lake City ns firm. The regulatory agency said also there has been a meteoric rise In Federal Oil stock prices Shareholders okay merger si I r- ER East Antelope shareholders were expected to act on the merger at a meeting in Salt Lake City, Utah May 0 Dvtlopmn Min ind Exploration IContractlna Srvloa notary Drllllna Cora Drllllna Fully Equlppad loi Ralatad sarvlcs 4 r v ; 'h ; .. r i r L JIViL-- l T C w I !'.i j r ' jn-umli- uj " v Provo 163 N. Univ. Ave. Phone: 374-82- Las Vegas .1721 L Charleston BJvd. Phone: To acquire firm An agreement In principle was announced by Mitre Industries Inc. of Dallas to acquire Courier Operations of Boyne City, Mich, from LTV Electro-sys-tme- s, Inc. for stock and a note. Courier produces gyroscopes for missiles, aircraft indicators and precision Instruments. Mitre Industries, which operated until recently as Polley Bros. & Vetson, Inc., designs and chuckin makes tools, dies, jigs and and also performs metal fixtures, forming operations. Ritter, president of Mitre, said his firm plans to operate the new unit as Court-e- r Inc., a subsidiary. D. G. Intermountain Gunnicorporation, son Oil Company, was recently merged Into Mitre Industries. An over-the-coun- 57 384-299- 5 (Continued from Page 3) sound financial condition, and quotes Kennecott president Frank R. Milliken as estimating future production from the Tintic area at $24 million per year based on current metal prices of lead, zinc and silver. the Burgin Mine operated by Chief Consolidated Mining Co. for Kennecott Copper, but quotes Chiefs president Cecil Fitch Jr. as saying the excess water problems at the Burgin Mine as reported in an earlier Journal article were largely solved and production was expected to reach 800 tons per day by fall. So there you have it. This information is for sophisticated investors who may not have been on our informants mailing list. If youre not a sophisticated investor, please dont read this. MANAGER MINING DEPARTMENT Gattv OK naads a maiura Mining Engtnaar to build up and managa Its Tha comgrowing Mining Dapartmant. Haadquartars Is In Los Angalas. mlnar and an Important pany It tha managing partnar of Patrotomlci Co., control othar significant procassor of uranium oral In Wyoming. Wa also uranium rusurvas In Wyoming, whosu davalopmant awaits tha completion of feasibility studies which art now undar way. Wa have a strong exploration effort aimed at increasing our reserves of uranium and othar matals. Tha man wa ara looking for ought to have outa good track record as a Mining Manager. His record ought to show team able a of profesattract lead and to racognizu, ability standing sionals. His. record ought to show cost consciousness and organizational ability. If you havo such abilities and want to Join other professionals in a call or write. growing organization that has a growing resource base, K1GTC7 cd QJJSG GQUIPC3GHT CRAOAU EXCAVATORS Siegfried Muessig, Mgr. Minerals Exploration 8i Mining GETTY OIL CO. Los 3810 Wilshire Blvd. (213) An 381-715- ROWER GRADERS CRANES AUSTIN-WESTER- N 4 HYDRAULIC Angeles, Calif. 90005 1 equal opportunity employer R0RBINS SCHRAMM ROTARY DRILLS A SECURITY UTS lHaadquartarsi 370 Parkar Ova. Ely, Nevada (708) see.siae Salt Lak Oiliest Caaeada Energy O Metals 301 S Univ. Club. Bldg. 133 E. south Tempi (301) 333 3771 ter At any rate the holdings of the other members of the Tintic Group are above the water table which is causing the Burgin problem, according to the 136 L South Temple Phone: 364-197- 1 U So lets get out our gear ami get going." lie advised his constituents. The report does not overlook the problems at , Salt Lake City 2000 Univ. Club Bldg. ers meeting in Las Vegas, Nevada. DRILLING INC. ' Lake Stock Exchange INVEST WITH OUR MARKET SPECIALISTS The action came at a sharehold- MINERALS - Members Sail OVER-THE-COUNT- j0.lJU ounces of geld, and is second only to Ilome-stak- e Mine in South Dakota in national gold production. The informant reports the three companies in t.'- nV - f II N states per share rose to a high of $2.75 bid, $3.25 asked on April The stock currently has been trading at about $1.50 a share. i? Department spokesman told him scientists surveying samples in the area identified clues that might indicate a reservoir of gold about LM miles northwest of s cess huge tonnages of lower grade base and precious metal ores in the area. 28. " ' Saturday. An Interior f lie imierl n.di's KMineeott pmiii'-pnearly all ilie Mine apparently unwarranted by any corporate developments." From 35 cents bid, 50 cents asked on March 17, the price v Shareholders of Amazon Gold and Silver Mining Corporation of Nevada last week unanimously approved a merger with East Antelope Corporation of Salt Lake City, Utah. 31st. Company officials of East Antelope said they expected the merger resolution to pass with no -- h, Delta, in Juab and Millard counties. Builon :iid. 6 In the imately 36,000 ounces per month equal to that of the late months rlie possibility of a rich gold find in an old jnining district of Utah's Drum mountains. Son. Iui-renc- e J. Burton. said " CHICAGO BRIDGE IRON CO. & ROBERT M. PHELPS, Manager Phone 484-S5- 5 f 550 WEST 17th SOUTH P. O. Sax 687 - Salt Lake City, Utah LINN BELT SPEEDER SHOVELS AND WESTERN ROAD MACMNERyVA- - y COMPANY . . 1S4D 8)00 SaaHi Main Sail Lake City, Utab D41 10 Braadi Offices: 590 W. 19th St, Uahi Falls, Mato 3411 Wsstifi Aw., Bsisc, Walw P. O. bz |