| Show SIMON SILVER LEAD SENDS OUT SENSIBLE LETTER TO stockholders under date of november P A simon president and general manager of the simon silver lead mines company operating a big property near mina nevada issued a letter to stockholders which is deserving of greater publicity than is contemplated in its direction to those only who are identified with the enterprise so many investors in mining undertakings have such a slight conception of what is required to make a mine after its potential value is determined that they are prone to criticise criticism critic ise and become impatient at the delay in receiving returns stockholders in simon silver lead evidently have been no exception to the rule so following a long siege of money raising and the kasterin mastering 6 of all problems that go 0 o with real mine development the solving of ore treatment processes and the thou sand and one other details of the business that call for tenacity of purpose and an abiding faith in ultimate results the following statement of president simon explaining matters to those who have backed him should appeal to the reason of every person who takes a hand in the development and financing of mining undertakings mr simons letter to stockholders is reproduced here for that reason to find what mi might 6 ht be a mine is an easy matter the hills of the west are dotted with location monuments volumes of government records are required to file notices of location and assessment work done but to mak e a mine a real mine is another matter it requires more ability more energy more courage than is at the command of the average finder of mines the doughty 6 prospector of history and romance A mine is made not found during the development period which carries it from a prospect to a mine the mana management b ement must bend every effort must use every atom of physical ad mental ability at its command it must work unceasing unceasingly b ly untiringly b and must not lose the courage and faith that originally prompted its efforts the first doubt as to the success of the venture on which it is bending its energy sets it back just one notch on the cog wheel of success A real mine management working and striving for the success of the venture on which it has set forth has no doubt it is making a mine it is adding its mite to the mining 6 history of the west during this period of development stockholders as individuals are apt to be overlooked the management considering them as a concrete unit is grateful for the help they have given and for the faith displayed in the mine but until the mine is made and there is something real to report reports to stockholders are seldom made from prospect to mine the mine of the simon silver lead mines company has been passing through just such a period it has been a prospect today it is a mine a real mine one that will make mining history in the years to come its problems solved its difficulties a thing of the past its management looks with pride on that which it has achieved it has no regrets no apologies for that which it has done the simon silver lead mine is today in a position to speak for itself with everything working smoothly the mine and mill a success and the property all that could be wished for there will be more time to devote to individual stockholders and to keep them better advised this is the first of a series of letters that will be sent out from time to time as developments occur or conditions warrant if this and future letters do not contain all the information desired your management cordially invites letters of inquiry or criticism and will see that prompt answers are rendered jn in each individual case i stockholders are more or less familiar with the mine with the outcroppings outcrop pings that can be traced on the surface for a distance of approximately a mile and with the work done in developing this ore body at depth the mine has been opened on the 30 80 and foot levels and ore has been found on each level on the foot level it has been opened laterally for a distance of feet A slope on this level is up three sets and the ore is equally as strong in the face of this as at any point on this level in fact the top bottom sides and ends of this level can be said to be all in ore and the strongest faces of ore are the east and west ends feet apart the work so far done has necessarily not been done for the purpose of blocking out ore but with the idea of finding out how far the ore extended no limit to ore bodies as yet so far no limit has been proven as to the extent of the ore bodies the vast deposit as opened on the foot level carries approximately 5 ounces in silver 7 per cent lead 8 per cent zinc and some gold values we are touching particularly on this deposit of ore because every effort has so far bean bent upon the development of what the management believes will be a vast mine of ore of these values alues this does not necessarily mean that other ores cannot be found in your property there are faces of ore carrying ounces in silver and 10 in gold there is an incline shaft to a depth of feet in which numbers of samples have been taken running 10 to 18 in gold and as high as 94 ounces in silver your management however recognizes 6 that high 1 grade mines as a rule are not permanent mines and it is building in the simon silver lead a mine of permanency and of strength that will when i it t becomes a paying mine mine continue so indefinitely the de of the high grade bodies of carbonate ore found in the property can wait all efforts have been and will be for the present bent on the building up of that which will endure and not in the chasing of that which so often proves a chimera mill and smelter provided your mill is a complete success and was a success from the da day it was first turned over when completed early in the present year it had a daily capacity of tons it was run for a number of months and proved its entire efficiency fici ency y by making a lead concentrate carrying 60 per cent lead and 40 ounces in silver in the same operation it separates the zinc from froin the lead and makes a zinc concentrate carrying 44 per cent zinc and 5 ounces in silver there has been some criticism as to your mine being a zinc mine and that because of the zinc content in the ore it is of a refractory nature and the values could not be saved such an opinion is entirely a fallacy the mill has proven conclusively that it can separate the zinc from the lead and that a highly desirable concentrate can be made of each metal if it were necessary the zinc contents could be cast aside and the mine would be a success depending entirely on the lead concentrate for its profits As it is however the zinc concentrate if considered a product byproduct by alone is decidedly profitable your management has purchased the roasting plant of the goldfield consolidated and the zinc concentrates are shipped to harbor city california cars are stopped at goldfield the zinc concentrate is roasted and re shipped under tinder the one through freight rate at harbor city the zinc concentrate is reduced to a zinc oxide of a very good grade keenly sought by the tire and paint industries of the coast nearly ready for maximum operation taking into mi consideration the present capacity of the mill and the possibilities of hoisten hoisting Z sufficient ore to run it at capacity your management 6 believes that a minimum profit of from to can he be made monthly by your company we speak of the present capacity of the mill after running the mill for a number of months at less than its maximum capacity the management shut down the plant and started the construction of a three compartment shaft the old shaft through b h which the mine had been developed is not capable of supplying the mill with avith more than tons of ore a day for this reason the mine was shut down and the new shaft was started at a point much more desirable for sup plying b the mill than that at which the old shaft was located the new shaft one of three compartments will when completed be capable of hoisting a thousand tons a day dav if necessary it is now down feet and will be pushed to the foot level as rapidly as possible while the mine has been shut down a few changes chang es have been made in the mill increasing it from tons toils to tons daily capacity As soon as the shaft has reached sufficient depth operations will be resumed at both mine and mill when this occurs the conr pany should be in a position to make the monthly profits we have mentioned it should not then take long to pay up the debts and place the property in a position where it can call make mak esome some return to stockholders has cost to date your mana management management ement has heard a great many corn comments ments on the selling price of the stock of your company and speculations ions as to its actual worth if a mine is a mine its value can be determined largely on oil just what has been developed and the cost of that development simon silver lead stock is selling at present between thirty and forty cents we should say that since the mine was discovered a million dollars has been spent on oil its development and the improvements that have been placed on the property basing in the value of the property entirely on oil what has been spent the stock is selling for little more than half of this cost basing the price of the stock on what has been developed ve loped it is selling at such a small fraction of what we believe is its actual worth we hesitate to draw a comparison there has never been a time in the history of the simon silver lead when we have felt as optimistic over its future as at the present |
