Show production of inspiration copper miami ariz nov 23 inspiration consolidated soli dated copper company is now treating tons of ore per day and according to the management the mill will work up to a full capacity of to tons daily before the end of the year with the present production of tons the company is outputting pounds of copper per month which will be more than trebled by the end of the year year these figures predict very high earnings at the present market price of copper the property has now been operating for several months and on a sufficiently large scale to enable an exact determination to be made mad e as to eventual costs the units that are in operation are full size and therefore fu furnish rn ish definite f figures as to the amount of labor power supplies and other items that go into the cost sheet to be definitely ascertained certa ined the results are highly gratifying and show that a much lower cost of producing copper will be attained than has heretofore been estimated the figures show that inspiration will make a saving of at least 1 cents per pound over the estimate cost of 8 cents per pound in other words inspiration In 1 on can be counted on to have a 7 cent cost of copper production and will rank among the lowest cost producers in the whole country when working vor king up to its f till full ca capacity lacity it should be turning out close to pounds of copper per year which will make inake it the largest of the porphyry copper producers save only utah copper the costs indicated will be 1 ower lower than of production the low costs attained by utah copper the which will havea have a only porphyry copper lower cost than that indicated by inspiration is chino V f 1 f on a basis of a 7 cent cost and it is believed that inspiration will produce at less than 7 cents and on an 18 cent copper market inspiration should show earnings when working to full capacity at the rate of 16 per annum there are outstanding shares of the total authorized issue of 1 shares of a par value of 20 each in addition to this there are of convertible 6 per cent debentures convertible into stock at 25 per share the debenture interest amounts to annually with indicated earnings such as those just stated there ca can n be no question that the debenture holders will exercise t their I 1 privilege of co conversion n into stock which will mean that the of outstanding debentures will be converted into shares thus making the total issued capitalization of the company shares operations have settled down to steady production the company has about tons toils of ore in reserve of an average assay value of 63 per cent copper the ore is being treated by the oil flotation process and highly successful results are being secured the actual recovery of copper being in the neighborhood of twenty eight pounds of metal per ton of ore on the basis of 15 tons per day the company has practically twenty years I 1 ore blocked out there is a large territory of un unexplored explored ground which is likely to yield additional quantities of commercial ore with further exploration |