Show NING SMELTER ire i Arranging to fRaise Rais Necessary Funds w company sr Its customary cm operating deficit ended December 31 31 r rtIn a loss or of c uit for r the Previous period period Bat ut of tho the mines was W eurtle curtailed ina possible so that the tho proof pro pro- of at t t copper waB WB only Zinc production by bY lessees aled al- al 01 ed this thin figure tho amount T e a pounds Tho To total dry id d during the tho to ya aggregated the Financial Review urs My 1 t ge e was taken of ot the the copper copper- wye g e early In 19 1920 O to dispose of ot accumulated metal as S possible copper on hand band hand December 31 11 1 to pounds pounds This need Gee to pounds by ment work ork was 3 continued fLing and ad diamond dimond drilling be- be Joyed oyed Ore Ote Oe reserves are are now as follows Fully developed F ore ove tons averaging cent copper partially devel- devel hyry ore tons assay assay- per cent copper tons ore ore containing 3 i per per her herand fer and tons aging 7 per pcr cent copper considered advisable d with Uh Ith plans for the a tons 2000 per da day capacity s 's i mill mill ml and a a fur fur- Iter of ot about tons per day cay palt An estimate of ot cost Installations was 8 m made e more i. i tr ar r so amounting to 2500 sum Bum of or this tIIs magnitude can canned cn ned ned Is a serious question Queston There jy y I outstanding first 7 per cent bonds MO oo notes The Tho Th authorized tack ock 00 par 5 Is of or 1387 pr has been issued The could hardly be sold to ad- ad udor present market condl- condl I t current rent assets as of or December E were were against CUT cur I of or Excess as- as L therefore Core 6 78 A con- con portion of or this figure is com com- ore etc ete which can considered as aa quick RSC tors arc aro now formulating providing funds fund which will I ted to tho the stockholders stockholder when financial conditions w warrant |