Show ROUND MOUNTAIN COS ANNUAL REPORT IS GOOD The Round Mountain Mining 11 com epin company pany nany which declared Us its initial i divi dividend dividend of ot or a share on Wed Wednesday Wednesday Wednesday is apparently In tiptop condi condl condition condition tion In the annual report to share shareholders shareholders shareholders holders just issued President Pr J R B Davis comments on the op operations operations and makes a showing that speaks ks well for the he ald the theNe Nevada Ne da camp In which It Is located He says We have hare now blocked out and ready for sloping tons of ore are which calculated c upon up n our average recovery 1325 pe ton gives us worth of ore are in sight I shall not attempt to tomake make maka an estimate of the probable ore In Insight silt sight t It will not however be difficult to greatly Increase our ore reserves by b extending our 50 and f 50 A Astrike Astrike Astrike strike of great Importance was made last month feet east of ot the shaft on the 70 level eel Only eighty feet of drift drifting driftIng I ing has been done on this new ore ores shoot s oot but It is d developing vel pin ping splendidly and nd producing a good tonnage I am now having Installed Ins a twenty live five horsepower hoist on No 1 shaft feet fe t east of No 3 from which I ex ox expect expect poet to obtain a considerable tonnage of ore During the period covered by this report has been spent on sur surface surface surface face Improvement and equipment The surface Improvement consists of super superintendents superIntendents superintendents house assay office addition to mill mill store and machine shop water plant mine office etc and equipment consists of two Huntington rock breaker boiler and engine With this additional mill equipment we have been able to In Increase Increase increase crease our mill capacity from twenty tons a day to tons per day dayAs da daAs As GAs a comparison it might be of in interest interest interest terest to the stockholders to state date brief briefly briefly briefly ly a few lew facts regarding the value of our ore cost coat of ot production etc The average value of our ore from the be beginning beginning e ginning of operations May Ma 1 I 1907 1901 to April 1 1905 inclusive was 1325 per ton This Is the average recovery recover cal cat calculated upon mint returns after deduct deducting deductIng ing lag cost of shipment and mint charges The average cost of ot mining and mill mUl milling millIng ing during this thia period was per ton This cost Includes expense of develop development development development ment The cost of ot mining and milling for the quarter ending March 31 1908 was per ton The cost for mining and milling for the month of ot March was per ton These costs include cost of development The average value aue of oJ ore art for March was 1592 1692 per ton I mention these working costs so that you may ma see se s that the cost of t min mining mm lag ing In and milling is being steadily re reduced reduced YoU will wUl note by the statement that the net profits above mining and milling and development costs from Aug 1 I 1907 to April 1 1908 a period of eight months Is This report also shows a net profit of or 37 31 for tor the quarter ending March arch 31 1908 It Is also of Interest to note here that from the beginning of ot operations May 14 4 1907 1901 to March 1908 Inclusive there were milled tons of ore which netted the company From the fact that our ore are shows considerable improvement in size and values in our deeper levels and the fur further further further ther fact that our mill capacity will soon be Increased I feel confident that we will be able to maintain our record of ot production as shown by the quarter ending March 31 Calculated upon these returns our property shows a net earn earning earnIng earnIng ing power of ot per year |