Show GOLDFIELD TALKS IN BIG FIGURES by al H martin goldfield nev november 11 alterations and repairs to the consolidated mill of the goldfield development company will be completed within thirty days and the plant placed in operation according to an official statement by general manager A I 1 darcy the mill will start with a capacity of tons using straight and dispensing with flotation as only the oxidized ores of the combination red top and florence goldfield mines will be given consideration arrangements have been perfected to increase capacity of the mill to 2000 tons per day by an expenditure of the amount will be obtained by increasing the capitalization of the company from the present shares to shares while nothing official has been given out relative to the amount to be paid for the new issue it is understood powerful new york financial interests have arranged to take the additional share issue for at the rate of 20 cents per share L E and associates of new york are heavily interested in the company and will take the major part of the new stock issue manager A 1 I darcy states that the recent opening of ore passages in the low grade reserves of the combination mine have exposed shoots sampling 18 to per ton across widths varying from one to five feet and estimates that ten tons of high grade ore will be developed for every tons of low grade material he places a net minimum profit of as earnings to the company from the reserves actually blocked out inthe combination and red top mines and a maximum net earning of this does not include the approximate tons exposed in the north halt half of the florence under a long term lease to goldfield development nor the prospective resources of the jumbo combination fraction and other properties controlled by the corporation the company also owns outright nine claims adjoining the combination mine drifting on crackerjack vein drifting north and south on the crackerjack vein is progressing from the foot level of the crackerjack shaft ore in the south drift is averaging better than 17 per ton while the north drift is exposing quartz sampling around 8 the vein is showing a width of ten feet in both drifts and proving one of the strongest and most substantial ore bodies opened in the goldfield ids brict for many years developments are all north of the columbia mountain fault and marks the first deep ore disclosures north no rth of th red top group of the goldfield development drifting along the east cast vein on the is also showing ore of good character goldfield consolidated dividend the goldfield consolidated company has declared a dividend of 5 cents per share amounting to payable december 31 this makes a total of distributed tri buted in dividends since incorporation of the company it is stated that a substantial surplus remains in the treasury and that future large profits may be anticipated from the 15 per cent royalty to be paid on net earnings by the goldfield development company which holds all the consolidated mines and mill under lease |