| Show UTAH APEX developing COPPER ORE NEAR 2400 2400 LEVEL OF BINGHAM MINE copper ore has been developed near the 2400 foot level of the utah apex mine at bingham according to president 7 R F jr s report t to stockholders which was with the dividend checks for the fourth quarter aggregating approximately progress of the shaft being sunk to the 2400 foot level is satisfactory and should reach the 2400 level during the present month area of the companas comp anys holdings has been increased by the acquisition of a controlling bond and stock interest in a contiguous property the limits of the the new copper ore body developed on the 2400 foot level have not as yet been reached but the width is expected to average fifteen feet and the length is estimated to ta be at least feet on the 1800 level new ore with high lead zinc values has been discovered it appears of considerable magnitude A vein to be an ore body of good lead ore five feet wide has been discovered in the utah apex bingham eastern ground improvements in the mill for lead zinc separation are nearing completion zinc recovery should begin before the end of the month earnings although reduced are sufficient for the present dividend rate the reduction is due to our output being curtailed in consequence of our controversy with the utah delaware formerly utah consolidated mining company which led to suspension of ore extraction in ore that we developed d ev eloped and planned to start mining some months ago regarding this controversy w we e have nothing to add birc circular ular to stockholders to the statement contained in our last the utah delaware claim to ore within utah apex vertical boundary lines is still being investigated on the ground round and dis discussed cussed between representatives of the two companies 1 I for the purpose of arriving at an understanding which w would enable the question involved to be settled on its own merits out of court our ou r neighbors have not substantiated their claim no legal proceedings proceeding Ys Y s have been instituted for the fiscal year ended copies of our annual report and statement of profit and 31 with balance sheet august after approval at the annual loss account will be published of stockholders in november all data accumulated meeting so far show this year to be the most successful su in the history of the company |
