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Show NEW FINANCING OF COPPERS IS PREDICTED That thoro is considerable new financing finan-cing still to bo dono among tho low-grade, low-grade, low-cost copper propositions now being rounded out Into production shape. Ih evident from frequent reports from the caul. The Miami and tlio Inspiration both have completed their plans for providing pro-viding tho cash to go ahead with tliclr preparations, and now conies the cast with Iho report that, tho Hay Consolidated Consoli-dated and Chlno will soon raiio more capital for fully completing the development develop-ment and equipment of the same. Tho last copper letter of George L. Walker has tho following to say In regard re-gard to this: "It Is anticipated that the management of the Chlno company will decide, after it visits the property noxl month, to increase in-crease Its concentrator plans from 3000 to 5000 tons dally, as the mlno will soon bo In shape to supply this amount ot ore without difficulty. Additional financing will bo necessary, but this can be provided pro-vided for by the hhIo or 100,000 sluircii moro stock. Therefore. Chlno will reach the producing "atago with a smaller snare capitalisation than any of tho other large porphyry or disseminated ore mining companies. This, of courso, will give its stock greater speculative possibilities, especially In view of the fact that Us ore la of high average grade and Its demonstrated demon-strated oro resources, very largo. "TJ10 opinion Is expressed by those. In a position to pass competent Judgment, that Chlno Ik atlll tho liicapest stock In the porphyry list. I expect lo sco Chlno advanco another 10 polntu In tho near future. "Tho 1,200.000 sharca of Ray Consolidated Consoli-dated now outstanding, at $20 a oharn. ban a market value of $24,000,000. This will be Increased to $27,000,000 by the proposed bond Issue, equivalent to about 38 cents a ton for tho 70,000.000 1011a of, oro already developed In the property. Its proved ore will probably be Increased to 100,000,000 tons by the exploratory work now undor way. I la ore averages 2.17 per cent coppor, and at least thirty pounda should be recovered from each ton of oro. yielding a prollt of $1.20 a ton, or more than throe tlmc3 what the developed oro Is now aelling for in tho market. There should bo a profit of approximately ap-proximately $75,000,000 on the extraction and treatment of the ore now developed In tho Ruy property, provided that the coppor is sold at an average of only .13 j cents a pound. |