Show ROUND MOUNTAIN MINING MIDYEAR REPORT president louis D gordon of the round mountain mining co under date of august ath makes the following interesting report on the companas comp anys nevada operations from the beginning beg ining of the year up to july from january to july there were yards of material from which cleanups of the head boxes yielded or per yard based upon results of previous years we should recover from the final cleanup and from the cleaning of bedrock an amount equal to 40 per cent of the above or a total of from yards or a value per yard of recent improvements in our placer practice will drill enable us to carry on hydraulic operations gli the summer and fall months and an additional yards of a value equal to if not better than that already moved should be this year costs this year should be less than for 1920 but taking the 1920 costs as a basis we have an indicated profit from placer operations of for the beyar 1921 our lode operations ope rations have been confined to leasing from january 1st ast to july 1st ast forty four shipments of bullion ranging rangi ng in value from 10 10 to were made by lessees lessels les sees the value of this bullion totaling from which the company received in the form of royalty 11 the advisability of the leasing system now in effect seems to be justified by the following table gross bullion sales smelter and insurance charges net bullion returns hoisting cost crushing cost milling cost paid round mt min co for use of mill retorting and melting transportation of bullion mining costs total costs royalty paid round mt min co 1 granting the lessees lessels the wage scale of the district for their labor the cost of producing was and inasmuch as the company received royalty we made more money than we would have made on company ac account county unless the position is taken that the lessees lessels would have done more work for the company than for themselves which seems rather improbable the above figures would seem to justify the leasing policy until such time as large scale operations 1 are resumed since july 1st ast eight additional shipments of an aggregate value of have been made by lesse lessels lessees les sees es from which the company will receive royalty as above about thirty leases are now in active operation and the lode loda production from this source should continue indefinitely intensive prospecting and the removal of surface detritus by placer operations continue to disc disclose Iose new veins the smaller small er of which are leased and the larger reserved in anticipation of resuming lode operations on company account as soon as conditions seem seam to justify this course we anticipate no large expenditures for improvements or additions and with the increased purchasing ing power of gold and better operating conditions the outlook Is good go od |