Rocky Mountain Oil and Mining Journal | 1969-12-01 | Page 2

December 1, 1969 OIL & MINING JOURNAL Page 2 Oil ifirKi buys idiifao niinie shuckin' TULSA By Chuck Hayward The season is the time Thanksgiving-Christma- s Oil Valley Co. flew i Ashley has purchased mining interests in Idaho consisting of some 3,000 acres of kyanite and garnet producing properties, Laurence D. Knepper, president, announced. Kyanite is used to make mullite refractory material and is also used in ceramics and the manufacture of spark plugs. The Japanese government is a large importer of this material. Valley and materials manufacture Colorado. Co. Oil new mining process a involving use of sonic waves and air separation of various minerals property. Ashley of 30 DUE TO THE increased use of kyanite, Ashley Valley has purchased a larger mill which it is now installing on the Idaho venture and acquired the entire will have it in operation very as a wholly owned and will these machines in With this second recent mining acquisition, the company is looking to a more active and diversified role in the mining industry. ,oon subsidiary. In addition, Knepper sLated that the company has purchased of year that makes us most happy to be the head of a large family. There's a solid closeness in a large family that is strengthened at this time of year. We made a policy decision earlier this week as we labored to put out our weekly newspaper for the suburban communities of Hunter and Granger, Utah, with its multi-colore- d shopping guide. The four-page Oil & Mining decision to publish a Journal this week so the staff could have an opportunity to enjoy the Thanksgiving holiday fully before jumping back into the grind of publishing two weekly newspapers, a monthly magazine and operating a growing printing plant. promise that next week well again be chockful of mining and oil news about Rocky Mountain corporations. Until then, we hope your holiday season is as bright as ours as we gather our twelve children around us for turkey and all the trimmings, and give thanks for the privelege of living at this time, in this place, as citizens of this We nation. We would like to serve notice at this time to our many subscribers and friends that the parent company of the Rocky Mountain Oil & Mining Journal Utah Scene Publishing Company, Inc. will be going public in the very near future. printing and publishing firm has been growing by leaps and bounds, and we (the management) felt the only way to keep our growth within reasonable limits (financially) and to realize the full potential of our own unique brand of publishing, was to obtain additional capital for equipment and personnel. The In these days of tight money it was decided that the most logical source of capital was to go to particularly that part of the investing public which we serve with the OMJ. We therefore incorporated the company and will be going through the arduous process of going public during the next several weeks. Drill hole a record? Idaho-- 1,141 Earth Resources Co. plans to 'manage or participate in uranium and DALLAS metals of expenditures $4.97 million in its current fiscal year, Dan M. Krausse, president and chief executive officer, said in the company's annual report. The report covers the fiscal year ended August 31, 1969, and is the first annual report issued by the company, which was organized in July 1968. Planned exploration and representing program development for fiscal 1970 arc expenditures up from a comparable total of $2.96 million expended during fiscal 1969 and reflect an important acceleration of activity, Krausse noted. OTHER endorsements are represented by the successful initial public offering of the company's common stock and MARKET SPECIALISTS Salt Lake City 2000 Univ. Club Bldg. 136 E. South Temple 1 Phone: 364-197- Las Vegas .1721 E. Charleston Blvd. Phone: [phone] Provo 163 N. Univ. Ave. Phone: [phone]- Spokane, in the Pacific Northwest, saying they put holes down to 6,734 feet in Utah, but adding drilling is tougher in Northwest rocks. Earth publicly-owne- corporation and d retired loans. Resources a $10,500,000 in bank that this property will make the following contributions to the company's operations over the life of the project: five-ye- $ ar in 36,700,000 sales; $17,000,000 in cash flow; and $13,000,000 in pre-taearnings after return of th? $10.000, 000 x Noting other highlights, investment. Krausse commented on the KRAUSSE also called recent evaluation of attention to two recently company's its copper property in Cuba, formed subsidiaries. Energy We adopted the term Company of Alaska will build N.M. Computable-Wealtto provide what management believes to be shareholders and the public with the worlds first integrated a measure of our progress that facility for the dual purpose of we consider more meaningful at producing petroleum products this point in our development and electric power. In Mexico, the company ha? than earnings per share. At todays metal prices, and Invesligacion, Desarrollo y provided that the preliminary Fomcnto, S.A. (IDF), to provide information developed to date is capital, technical assistance and confirmed as .additional data management to Mexican natural become available, we estimate resource companies h r ANNOUNCING A UTAH FIRSll- - lummsi Registrar & Transfer PER ANNUM The Professional StQck Transfer Company INTEREST COMPOUNDED Salt Lake City ON 3500 ONE YEAR 322-169- 6 THRIFT CERTIFICATES Brokers, Underwriters, & Mining Companies Understand Your Needs INVEST WITH OUR OVER-THE-COUNT- company subsequent listings on two major exchanges. The offering on February 18, managed by Kidder, Peabody & Co. Inc., exploration and made development programs We Lake Stock Exchange Heinze, Northwest district manager for Boyles Bros., which has been doing the drilling under contract to Duval, said it was the longest hole yet drilled by the drilling Esrfh Resources mops plans the public Members Salt E.A. Houston, Tex., said it is the at the deepest core hole yet drilled from the surface and was put Mine near from the hillside above the down Lakeview, Conjecture drilled' by Boyles Brothers Conjecture shaft. Although Shearer declined to reveal results Drilling Co., is believed to be a of the core drilling, he said record for the Pacific Northwest. Duval has been doing Joseph E. Shearer, Bayview, exploration drilling from the Idaho, geologist in charge of surface all year in lieu of exploration for Duval Corp. of underground work. A foot diamond drill hole LAKEVIEW, TLttc, PRINTING urchaseJnteHake.ThrifiCertificates for periods of,l2toi0years( and .receiveTinaddition toonterestfalVcashbonus .for eaclr yeaq beyond theJirslyeaBonusjs'giveiyatJthejime the certij issued SAVE BY MAIL Address Ciiy Zip Social Security Number Send me Thrift Certificate in the amount of year(s). My for a period check is enclosed. 8t LITHO 3479 SOUTH 2700 WEST 298-2- 403 Midvale.