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Show a ; f i - 'l i L'ivJil'JS i '- -I KLM Geo-Updat- e, Aerocart ink joint venture pact a Salt Lake City Geo-Updat- e, headquartered geophysical exploration service company, and KLM Aerocart N.V. have agreed in principle to engage in joint ventures using their respective aerihl photographic and capabilities. Announcement of the agreement was made by F. McKay Smith, president of and Harry L. Coggan, U.S. consultant for KLM Aerocart. KLM subAerocart is a wholly-owne- d AirDutch sidiary of KLM Royal lines and has offices tjroughout is a subthe worll. sidiary of OMNICO, Inc. Under the agreement, we expect to take two excellint exploration companies and build them worldwide geointo a well-kn- it and physical surveying associasaid tion, Coggan. We will lean for its heavily on and they geophysical capabilities in turn will be relying on our experience and capabilities in aerial survey work, he added. capabilities in computerized interpretation of information, tied in with KLM Aerocarts worldwide teletype network, is expected to provide the two companies with almost data on a instant, finger-ti- p worldwide basis, explained Smith. geo-ded- ic Geo-Upda- te Geo-Upda- te Geo-Upda- te Geo-Updat- es We will be able to cover the world if we need to do so, said Smith. Utilizing an SDS Sigma 7 Computer, housed in Salt Lake City, produces computerized interpretation of information gathered through various aerial surveying methods. It is anticipated that our SDS Sigma 7 will become the nerve center for data interpretation and retrieval gathered from sources throughout the world, Smith added. KLM Aerocart has done extensive geophysical surveying and mapping in the Middle East, the Far East and South America. e, said Coggan which has 18 employees, was selected by KLM Aerocart because it is competent and a young, aggressive company. Geo-Upda- te Geo-Updat- MFS gas discovery Mountain Fuel Supply Co. has announced an apparent natural gas discovery in the Leudte Hills area of Sweetwater County, IN Three officers of JOINT VENTURE which recently entered a joint venture agreement with KLM Aerocart, are shown abovE: F. McKay Smith, president; Ron Tolman, executive vice GEO-UPDAT- E and LonGie president, - ABOVE: A over possible ore bodies. Geo-Upda- te Geo-Upda- Will ams, aircraft te vice president in charge of marked g. at worn towing magnetometer WASHINGTON Legislation multiple use management is to replace' the Mining Law of imperative. 1872 with a system of mineral The 1872 law permits an leasing based on multiple use of Sen. individual to mark a claim on public lands is proposed by public lands and to assume Gaylor Nelson, almost complete property rights. The old law, he says, is a In some cases he must record his major obstacle to wise and claim in a county office but he effective land management in a need not inform the federal world where the best kind of government. is. test, he said. te Fidlar said the company plans to continue drilling to the original objective, which is at 8,200 feet in the Nugget formation. Further testing of the well must be done and production experience gained before the discovery can be fully evaluated, he added. is shown Sen. would replace mining law D-W- Wyoming. MM. Fidlar, president, said a wildcat well was drilled about 18 miles north of Rock Springs. The well is to a depth of 7,290 feet, and flowed at a rate of 19.6 million cubic feet of gas during a 90-minu- Nelson said this gives priority to mineral resources and makes any consideration of wildlife, recreation, aesthetic or urban land values impossible. In 1929 Congress passed the Mineral Leasing Act which excepted certain minerals from the 1872 law and made them available by leasing from the government. Utah mine on schedule Construction is moving ahead on schedule at Rio Algom Mines Ltd. uranium mine in San Juan County, Utah, R. D. Armstrong, president, told shareholders in an interim report. Commercial production is to begin in 1972. A formal loan agreement for some $14 million has been signed with four U. S. and Canadian banks. The balance wf funds needed for the project about $5.2 million, is being six-mon- th provided by the company. Net earnings for the firm during the first six months of 1969 were Toronto-base- d compared with $5,818,000 earned during the same period in 1968.' $6,214,000 Comparative per share earnings were 47 cents and 44 cents respectively. Sales of $81 ,315,000 were slightly higher than sales of $78,383,000 in the 1968 period. |