Show mi ining n i e n 9 company reports BUTTE AND SUPERIOR REPORT the butte superior mining company has issued its first quarterly report for the year 1914 this report shows estimated profits based on an all average of 8 cents for spelter of this is equal to per share for the quarter or at the rate of 17 per annum spelter is now selling inon months ahead at better than 13 cents president mackelvie concludes his quarterly report with the following important statement the exceptionally high price of our product a large part of which has been sold for succeeding quarters at prices greatly in excess of the above estimates will warrant a substantial increase in dividend disbursements bur and it is the intention of the directors to declare in addition to tile the regular dividend such extra dividends as the cash position of your company warrants butte superior reports for the quarter ended march 31 as follows we comparing with previous years 1 1915 1914 net value zinc concen tr net value lead concen tr miscellaneous income 2895 total operating costs net operating profits operating statistics for the same periods compares as follows 1915 1914 ore milled tons per cent zinc 1735 silver ounces zinc concen produced lbs ibs per cent zinc in con silver ounces 2264 2641 mill recovery per cent mining cost per ton milling cost per ton toil 2175 total cost per ton president mackelvie says the tonnage of ore treated in the quarter just closed tons was the largest handled by the company during any similar period ot of operations the average zinc contents treated was below normal owing to the fact that it was found advisable to reduce the cost of the grade of material hoisted so as to secure the very large increase in production desirable with present prices of zinc during the period development work vork was carried on to the eastward and on the thousand foot level our lateral to tile the eastward was continued to a point feet beyond the east end line of the alie black rock claim and a crosscut run north from this 1 j point this opened up some commercial I 1 ore which though of rather low grade is very encouraging from the fact that it lies considerably farther to the east than any commercial ore as yet developed additional work will be done below this point on the 1200 foot and 1300 foot levels on oil the 1300 foot level tile from which ore is now being taken is proving considerably larger than we expected and will make a very large tonnage of ore before reaching the 1200 foot level the 1500 level has been extended about lou lob feet farther eastward and the ore openers up by this development has proved much better than indicated by developments on oil this level prior to this period this ore is of considerably higher grade and maintains a very good width the betterments and repairs made in our mill during the shutting down of the previous quarter are reflected now in decreased mill cost which in spite of the fact that they include all of tile the operating expense account for repairs and alterations made during the shut down amounted to only 1866 per to ton n for the tons milled tile the most important feature of mill construction st was the new flotation plant which was started during the period and carried well toward completion after a thorough trial had been made of the new janney notation flotation machine this installation simply replaced the old flotation machines previously in use without question this will give us very materially improved metallurgical lurg ical re results Our profits which are estimated at 1 I 1 for the period are calculated on a basis of 7 cent spelter for january and ort on scent S cent spelter for february and march or an average for the period of cents it is probable that the amount actually realized will be well in excess of this estimate |