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Show r 'I w w 1 in OP U LIBRARY u . CITY I HraEKM . i Features Mining , Oil, Financial VOL. 25, NO. 7. Production Of Wonder Ore Gaining - .f V- V $10,-000,0- f . & i con-sumat- 00 m a i . ed, there is no connection between Uranium Oil and Trading Company and jhe Aladdin Uranium Corp. other than the joint lease they have in the Hertz and Green Veins claims which is on a production basis and increasing shipments weekly. Current success of Aladdin is attributed by Mr. Walters to good management at the mine under the direction of Glenny-Cutle- r. He believes that Uranium is in its infancy and will make the gold rush appear as a minor factor in the progress of the world. He expressed appreciation for the method of operation of the Atomic Energy Commission in assisting the small operators to develop into going concerns. When queried regarding the price level of stocks, Mr. Walters replied that efforts were being directed toward production and given sufficient time, earnings would speak for . t Reasonable Tax Legislation Needed To Aid U. S. Mines One Year $3.00 Chemico Operate Utah Cobalt Smelter fronting the miner. From the barren stretches of wasteland in this vast area is being taken great material wealth but also, and of more importance, is produced the nucleus of an energy, which when properly used, n can make mans more endurable. life-spa- New Lead Price The American Smelting & Refining Co. has set a new price for lead in California that is $4 per short ton below the New York price of 13c, the new quotation in California is 12.8c per lb., the same as in St Louis. ar Special Notice To Stockholders of lining Industry More Public Lease Grant Lands Opened Calls For For Leasing Development The Atomic U. S. Energy Commission has just announced a regulation providing for issuance of uranium mining leases on certain public lands affected by the Mineral Leasing Act of 1920, particularly public lands covered by oil and gas leases. The regualtion, Domestic Uranium Program Circular 7, is designed to encourage private companies and individuals to develop and produce uranium bearing ores from public lands embraced within an offer, permit, application or lease under the Mineral Leasing Act of 1920 or from , lands which are known to be valuable for; minerals leasable under that Act. Such lands are not open to mineral1 entry under the mining laws. A large 'number of oil and gas leases have been issued on the Colorado Plateau, the center of domestic uranium production, and in other areas of the Western United States where prospecting for uranium is active. About two years ago it was discovered by oil and . gas leases. Continued on Page 'DENVER," COLO .The hilning industry1 of the'Unlted'Sf ates" cannot prosper nor form the basis for our economic and military might if policies reflecting the philosophy of Harry Dexter White are to be continued, Julian D. Conover. Executive Vice President of the American Mining Congress, Washington, D. C., told the Colorado Mining Association Convention. He said the industry has high Will hopes that the Presidents Cabinet Committee, headed ' by Interior Secretary Douglas , McKay, and which is drafting a national min. erals policy, will outlaw the White The Chemical Construction Corr philosophy of keeping our own metals and minerals in the ground poration (Chemico), a susidiary of while importing these sinews of the American Cyannamid Co., will defense from abroad. He express- operate the Calera Mining Co.s ed the hope that this Cabinet Com- Garfield cobalt smelter for the mittee, composed of the Secre- next two years under terms of an taries of Interior, Commerce, and agreement reached between the State and the Director of Defense two firms. Chemico, which designMobilization, would arrive at pol- ed and built the smelter, will reicies which would strengthen the ceive a fixed toll from Calera for domestic mining industry and al- each pound of colb alt alloy or othleviate the serious situation now er 'marketable cobalt products proprevailing in1 the lead, 'zinc, and duced. The chemical firm can exseveral of the strategic minerals pend up to $1,000,000 in improvements and new equipment, and file industries. are reimbursable to Conover told the meeting that expenditures Chemico by Calera at the dose of legislation now pending in Con- the two-yeperiod only if a plant gress dealing with taxes, labor test shows an output capadty of relations, mining law revision, re- - at least 8,000 pounds of metal Continued on Page 2 daily. Energy Commission. The AECs program of guaranteed prices, and bonuses and premiums and its extensive system of exploratory aid practically eliminates the usual hazards con- . ' . Dollar Aladdin To Increase Output From Utah Uranium Property The .rapidly expanding uranium industry being conducted principally in the four corner area which- includes portions of Utah, Arizona, Colorado and .New Mexico has reached far beyond the infancy stage and is now classed as dollar business. a multi-millio- n This tremendous feat has been accomplished in the relatively short period of approximately two years. In .fact, it was only a year and a half ago that the now fabulous Charles Steen made his world resounding discovery on Utex Exploration property! Just how rich this single. discovery might prove to be as production is expanded is a matter for However, geological conjecture. experts have estimated that he (Steen) has anywhere from to $300,000,000 worth of ura-niuand vanadium in his 12 claims (600 by 1503 feet each). This is just one mine w'rere a determination of these proportions has been projected. However, there are scores of other mines in many different sections that are producing high grade ere, ard 'b:s with a minimum of devdrrr.''n1 as mine development usually goes. Unique .in.it positioa-.i- n economy Of the United States and the world, the uranium industry is operating in the most advantage ous of conditions. This due principally to the strong support prof-ere- d by the government through its special agency-pth- e Atomic S Colorado's Output Listed At $75 Million commissionA-O-te - Tin 20,000 Miscellaneous 1,100,000 Uranium mining and processing with Vanadium by - products, estimated value to state 75,000,000 Common Stock . Sold . 't . . . Kindly subscribe to WESTERN MINERAL SURVEY . , CAYI AS r .4 I t J. WALTERS, JR, President Since its incorporation some ten months ago, Uranium, Oil and Trading Company has progressed rapidly in selecting and acquiring potential uranium ground. Besides the Irene and Glenny groups, the company also controls ten claims in the Bicknel and Tory vicinity. These claims are under option, following a cadi and rdyalty agreement, to George Snyder, Jr. of Salt Lake City. In addition, the firm owns a substantial interest in the Elaterite Basin, which is said, to be one of the richer portions of uranium ground known anywhere, reportedly possessing approximately 185 feet of the productive Shinerump. At present, Uranium, Oil and Trading is reported to be shipping very good ore from the Hertz and Green' Vein lease. Consolidated .66 63 Uranium .20 32 Great Basin .14 10 Mayflower 4.25 Oil Incorporated. 4.00 Uranium Oil & .0696 0594 Trading Uranium Corp. of 0394 .04 America Uranium Mines 12 of America .15 .16U. S. Uranium .. .14 ' .0394 .0396 Sun Uranium Federal Uranium .0296 .03 Mail To BROKERAGE . Member Salt Lake Stock Exchange 39 Exchange Building Cromer Co. Brokerage Lake Stack Member Salt CO. Salt Lake City, Utah ; Exchange Salt Lake Stock Exchange Bldg. Suite No. 439 Exchange Place Salt Lake City, Utah Reports on the above issues will be mailed free upon request Phone Teletype SU 180 . , . . ..; v M.. ... and ;keep posted as to the latest news of your companies. r .... ....... .... Addr ess y. . i . INFORMATION FREE UPON REQUEST Please send me a report bn Uranium, Inc. Name ; raffle-activit- - Bought . . ' Uranium, Oil and Trading Company recently, leased ten of its claims,' known' as the Irene and Glenny groups, situated in the Henry Mountain district of Utah to Congo Uranium; Company, which has been forined for the purpose of conducting exploration and development work on the property. . Cash Involved The lease agreement involved a cash consideration and royalty participation in production proceeds, it was learned in Salt Lake today. The claims are said to have been thoroughly explored and, according to engineers on the ground, show some UNLISTED URANIUM URANIUM, INC. ' i Uranium Oil & Trading Walter E. Scott, Jr., of mines for the State of Colorado, has issued a preliminary report covering data on minerals and metals collected exclusively by his department Mr. Scott stated this datum does not include gold, silver, copper, lead and zinc as we receive that information from the United States Bureau of The one sure way to keep in Mines, nor do we include producis to run from it. trouble tion of crude oil and gasoline, which has already been released by the Colorado Oil and Gas Conservation Committee. Mr. Scotts report listed the following minerals and amounts for the 1953 period based on prelimStocks inary figures: $37,200,000 Molybdenum Bid Asked 1,111,550 Tungsten Aladdin Uranium 156,000 Berryllium 0394 .0494 Corp er f Aladdin Uranium Corporation and Uranium Oil & Trading Co. . Published Weekly iuM-Mo- n Excellent grade ore is now being shipped by Aladdin Uranium Corp., from its .lease known as the San Rafael Swell and increased activities are underway, it vwas announced in Salt, Lake today by J. Walters, Jr., company president. Aladdin controls approximately sixty four claims in San Juan County, Utah and has made a tentative agreement with New Park Mining, East Utah and Oil to examine 32 Incorporated claims for the purpose of these three companies undertaking de-- . velopment on a cash and royalty basis, Mr. Walters stated. He also reported that other major companies were' dickering to obtain all or part of an additional 32 claims which Aladdin controls. However he stated that no definite deals had been . we asserting that know we have the uranium and it wont run away. Mr. Walters stated to the Western Mineral Survey that mjp j mm Salt Lake City, Utah, February 12, 1954 Uranium Basis For ii . |