OCR Text |
Show March 21, 1969 Page 7 OIL & MINING JOURNAL AEC ups date for diuckin enriched uranium GRAND J UN CTION The U.S. Atomic Energy Commission announced that it will allow enriched uranium on lease from the AEC to be purchased by a method called in situ" toll enriching beginning April 1, 1969, instead of January 1, 1971, as previously announced. "In situ" toll enriching permits the lessee to acquire ownership of the leased material upon furnUhing as jpayment required amounts oi uranium feed and dollars. The amounts of each are determined from the table of enriching services, . published by the AEC and applicable to all toll enriching transactions. This means of acquiring enriched uranium on lease from AEC was one of the uranium supply policies established by the Commission to implement the 1964 private ownership of special nuciear materials act. ON JANUARY 15, 1969, the Commission announced that it wished to reduce its purchases pnder existing uranium procurement contracts, which currently call for delivery of approximately 14,000 tons of U308, in uranium concentrates during 1969 and 1970. The reduction, not to exceed 3,000 to 4,000 tons of U308, is for - the purpose of reducing In government expenditures. view of the rapid increase in uranium requirements of the nuclear power industry, the Commission concluded that this limited reduction in government purchases could be made without adverse affect on the viability of the uranium industry as a whole. domestic uranium mining the AEC to explore the possibilities for additional uranium sales for earlier in situ tolling, the AEC will defer the final date for receipt of proposals for reduction in deliveries under uranium procurement contracts until April 7, 1969. A notice to effect will be published in Federal Register shortly. For lessees desiring to advantage of the in situ this The for the time required for sampling and analysis, the normal 90-da- y period by which the delivery of feed material must precede delivery of toll enriched uranium to the user. In the case of in situ tolling, the delivery date of the enriched uranium is the date the title to the material passes to the user. The waiver, however, will be available only in connection with in situ tolling of enriched uranium which has been held under lease for at least 90 days. MINERALS 1) Ramey said the Muskie bill is a significant step toward solving one of the e e Min complex problems of our Development and Exploration Nation. said his pollution provision because it the responsibilities of protects the state and the relationship that must exist between the Federal and state governments. MEANWHILE, a recent study reports no significant effect on e water, plants or fish from warm condenser water the Muskie bill Rotary Drilling Coro Drilling Fully Equipped lor Rlald Services near-shor- Headquarters: S70 Parker Ave. old discharged from a 895,000 kilowatt steam electric utility plant into Lake Michigan at Waukegan, 111. The study was prepared by Wesley O. Pipes, Northwestern University professor of civil engineering, and L.P. Beer, formerly senior staff engineer of Commonwealth Edison Co. The Wau kegan plant was selected for study because it represents over 40 years of operation and any possible effects of thermal discharges would surely be apparent. The plant burns coal and natural gas. ar Ely, Nevada (70S) 280.2120 Salt Lake Office: Caecade Energy a Metals SOIS Univ. Club Bldg. 1SS E. South Temple (SOt) 383 2771 HUNTER, ANDERSON GO. Dealer Broker MINING STOCKS 421 Sherman Ave. Dial MOhawk MOhawk 4-44- 00 But in its final analysis, the article seems to agree with Regional Securities and Exchange Director Donald that organized crime has a finger in the OTC pie and that the real underlying reason for the stock market interest is the greater fool theory. g It may be true that organized crime has money in the market the Baddies would probably go into religion if they could see a way to make a buck and its certainly true that the challenge of outguessing the other fool down the street has a lot to do with the viability of the market. But there are other reasons. is the prestige value of owning stock of playing the market. The average person likes to be able to say I talked to my broker this morning and he said...4 But the Big Board is a little too rich for the average person, and for them the OTC market fulfills an important need. So long as they can get a run for their money without risking too much, the average person is going to enjoy consulting with his broker and following the progress of his stocks. or Another reason for the interest in the market is that run for his money we mentioned. The market owes a certain amount of its appeal to its very uncertainty.' Its a gamble, and no matter how much we try to legislate against human nature, mankind is going to enjoy riding the brink, daring the unknown and risking a buck on the turn of a card or th6 tick of a tape. The market is legalized gambling and cant honestly be' considered anything else, whether youre buying AT&T or American Duchess Uranium. As famed investment adviser and author Louis Engel notes in his book, How to Buy Stocks, So how do you know what a share of stock is worth Pocket Pole stock or any other? Theres only one answer to that. Bluntly, its only worth what somebody else is willing to pay for it when you want to sell it. Theres a risk or in any kind of investment, Mr. Engel notes. Theres a risk in just having money. A speculator is a man who takes a big risk in the hope of making a big profit as a result of an increase in the price of a stock, Mr. Engz points out. An investor usually has his values to be realized over a period of years... eye on long-ter- m American business needs both kinds of risk takers. Without the speculator, new businesses wouldnt be bom, nor would many an old business be tided over a rough spot. Without the investor, a company would not have the capital to carry on, to in buying stock grow and expand. 11 Area Code 208 COEUR D'ALENE, IDAHO B? oil-sha- e e ) Department supports the Contracting Service of thermal P.O. Box 847 over-the-coun- ter One DRILLING INC. 40-ye- THERES AN ARTICLE IN THIS WEEKS Newsweek Magazine (March 24) which exposes the Salt Lake City shell game stock market boom. The article cites the the rising demand for several origins of the stock splurge uranium ore caused by the stampede of electric utilities to build nuclaar generating plants , the new attractiveness of gold le lands. and silver mines, and ndarby undeveloped take toll enriching policy, the Commission will waive, except pollution." Commissioner Hickel By Chuck Hayward industry during 1969 and 1970. In order to permit companies considering submitting proposals for reduction in uranium sales to preventing and controlling Secretary few The change in date for start of in situ tolling could result in additional opportunities for private sales of uranium by the Muskie bill (Continued from Page i 13314 (Continued on Page 8) |