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Show July 29. 1955 Brokers See Uranium Chief 'Good Prospect' FIRST ORE FROM MOAB MINES The research department of Coombs & Co., reported today for the investor seeking a long term capital gains investment that Uranium Chief appears to be a favorable choice. Their Page Five Thi Western Mineral Survey, Salt Lake City. Utah indicates investigation that the stockholders of both In- The Spokane Stock Exchange acres lies a mile east of the DayDrill sites are being enjoyed one of its best weeks of break. the summer. Gains exceeded blasted. losses daily and volume was a Interest in Uranium in the at a good pace. This was quite Spokane area was termed feva contrast to the recent dull mar- erish by the regional adminisket and weakening price trend. d trator of the Securities & Silver Lucky Friday change Commission, following his shares reached a new return to Seattle from a visit high of $3.35. DAY MINES spurt here. He reported his office deed ahead to a three-yea- r high of luged with prospectuses of newMoab Mines, Inc. nsei the above shuttle cai to bring on from $2.30. Its strength at first was ly organized mining firms seekLucky Nine mine for skipping to Moab station. attributed to favorable develop- ing uranium in the Spokane area. r ments in the Hercules The Nabob - Merger - Bismarck mine near Burke, in Idahos joint venture at Dead Horse Point Coeur dAlene mining district. Utah, continues to look better, acApproved Then it was reported that com- cording to latest reports from the pany officials had been in the area. The uranium ore zone innew Ferry county uranium-tho- r dicated by diamond drilling has ium field north of Republic, home been reached by a raise from a of Day Mines Aurum gold proptunnel advanced into a erty. Latest rumor is that the canyon wall. First assays showMoab Mines, Inc. has made its explorational drill patterns have company is entering the radio- ed uranium oxide values of 0.33 first shipment of uranium ore been set on approximately thir- active field in Ferry county. and 0.73. The face or the tunnel from the Lucky Nine mine, locat- ty acres surrounding the mine. shows good copper mineralizaPend Oreille Mines was active tion. ed on Wray Mesa claims in the Uranium shipments are scheMiners are adding timbers to at higher prices on unconfirmed Uravan Mineral belt of Western to start soon under a preduled the drifts which comprine the reports the management plans to Colorado. liminary purchase contract with mine structure. present soon its at step up production to A. the The ore was shipped the Atomic Energy Commission. Oreille county The company recently received Pend E. C. buying station in Moab, Step-uwill be from Vindicator Silver-Leais conofficial sanction from the Securi- properties. Utah. 1600 to 2400 tons daily. on for proposals sidering carrying Two drill rigs have been in ties and Exchange Commission at claims its work development r operation on the property where for a public stock issue. Sidney sold at $1.35, a east of Mullan in the Coeur high, on unconfirmed reports of dAlenes and for exploring propfavorable developments in its erties on the north. Day Late Report adjoining zinc-leamine in the Pine Creek which has holdings on the Mines, district of the Coeur dAlenes, north, has given Vindicator clear near Kellogg. title to the south half of the disBig Daybreak Uranium forged puted Bull Dog claim adjoining ahead on an official report by Vindicator on the north. Vindithe company geologist, former cator has rejected a proposal by Hi-Gra- de head of Atomic Energy Commis- Silver Buckle to revise the operNumerous hot spots of from sion work in this area, that com- ating agreement under which one to two per cent ore have Kiabab Uranium Corp., has mercial autunite has boon found more than $200,000 worth of work been uncovered in the tunnel of made two ore shipments to the in diamond drill holes No. 6 and has been done at the property the Joe Dandy group of claims mill now await 7. The latter hole cut a bonus in the last two years. Officials recently. of the Big Horn Uranium Corp., estimates. Officials are confident vein at a depth of only 15 feet. Metropolitan Mines has increasaccording to A. W. Egbert. they will encounter heavy ore in The main vein is expected to be ed its crew at the Black Bear Boyle Brothers Mine Develop- the Green River area very soon. found at a much greater depth. r-lead mine north oi Wallace ment Co. working the Joe Dandy Shipments have previously as- Bulldozers now are removing in an effort to reach unmiixM claims of Big Horn, have bull- sayed as high as .50 per cent, overburden from the entire slope above old stopes. Meandozed extensive drilling roads they declared. The companys where uranium has been opened ground Corn-paSunshine Mining while, and are presently core drilling. mining program is moving ahead by trenching or drilling has resumed on work the As soon as sufficient ore is rapidly, officials said. Kiabab 3700 level in Met ground adjoinDahl Uranium Mine, Inc., was encountered on these claims, stock advanced Wednesday to the Sunshine mine on the ing on the Spokane preparations for shipping will be .06 cents a share. A total of quoted south. market today for the expedited to the buying station, 51,000 shares was reported sold time. Sales were made first about one mile away, Egbert said Wednesday at the J .A. Hogle Howe Soud Company declared 50c above the level. Last week a dividend of 25c a in a report to stockholders. Co. share, payable a 500,000-sharissue was oversub9th to holders of recDrilling is also in progress on September scribed at 20c per share. The ord the Indian Creek property of September 1. Recent quartercompany has autunite showings ly dividends have been at the 10c Big Horn, 30 miles northwest of near the Daybreak mine in the rate. Monticello, Utah. Mount Spokane district. It has The third working operation London T,ead and Zinc were in just leased another property in for Big Horn is on Lost Boy same a district with the high promisground today with prices claims. ing autunite showing. The 160 well above the U. S. price . . . Ex-Lea- ternational Oils and Metals Corp. and Uranium Chief, have approved a merger between the two companies on the basis of 100 shares of Uranium Chief for one share of International. International Oils and Metals Corp. has experienced management in mining and in finance, a diversified base for production, including uranium, iron, tungsten, lead, silver, zinc, copper, gold, monozite sand and rare earth. They have a substantial proven reserve of the above ores. International now controls a majority interest in five large mining companies. Uranium Chiefs management is in the process of making a ma jor public offering, which they hope will be completed by January, 1956. The company has shares of $1 stock authorized. There is at present, 1,335,000 shares outstanding. It is Expected that the public offering will net the company about $6,000,000. It is proposed that the public offering will be $10 per share. Uranium Chief currently sells over the counter at approximately 2 cents per share. Firm to Drill for Oi (Continued from Page 1) all-tim- e lead-silve- I SEC Moab Mines Ships Ore City, Mr. Wise said. zinc-lea- d p "Hot Spots Seen Horn Joe Dandy Claims On Shares Shares Shares Shares Shares Over-the-Count- Complete Insurance Protection Performance & rORMS - or Fire M. G. NELL, Surety Bonds LIABILITY - Theft Res. Phone Upetco Uranium Co. expects to receive royalties on ore shipments from the Jack Pot Mine in the Gas Hills area of Wyoming. The royalties will range from $10,000 to $15,000 per month according to a company spokesman. J. Reed Tuft is the head of the firm. The company now has a dragline operation going and is shipping four; truck loads of ore per day. Officials of the firm expect to go into full operation Monday. Richardson Sinclair Service For the Finest in Sinclair Products Gas, Oil, Expert Lubrication and Auto Repair Tires - Batteries - Accessories Friendly, Courteous Service 980 West North Temple Street Manager Phillips Petroleum Building Bus. Phone 46747 er Upetco Expects High Royalty From Jack Pot NELL INSURANCE AGENCY Auto Kaibab Ships Ore y Address 308 West Second St., Tyler, Texas ALL d I May Day Uranium Stock Uncompahgre Uranium Stock Gem Uranium Stock Overland Oil Co. Stock, Denver, Colo. Seagull Uranium Stock Johnston Testers Stock Radar Electronic, Inc. Stock, New Tork Texas Oil Company Stock Shares d two-yea- WANTED TO BUY Shares Shares 90-fo- silve- and a public offering of the companys stock will .commence approximately the middle of October by major .underwriters in Salt Lake City, Denver and New York at a contemplated offering price of five cents per share. Steps are also being taken to register the company with state corporation officials in Montana and Wyoming. Principal offices of the company are located at 2123 Second Avenue North in Billings and .605 Judge Building in Salt Lake 250.000 240,500 300.000 500.000 200.000 7,500 200.000 150.000 nil 26 Phone (Across from the Fairgrounds) GAMMA-O-METE- R $149.50 WONDER TOOL for uanium and thorinm prospecting. BURIED ore deposits. More Sensitive than scintilladetects Easily tion counter. NO confusing background count. USE FROM CAR, PLANE or on FOOT. Money back performance guarantee! THE A-E-- 45 EAST BROADWAY, A Salt Lake City J. A. HOGLE 523 West Sprague Ave., SPOKANE Member Salt Lake-Spokane-N- ew We Specialize 79 & CO. 35 North University, PROVO York Stock Exchanges In Mining Stocks Loans Made on Listed Mining Securities 132 Main Street SALT LAKE CITY 2380 Washington Blvd. OGDEN |