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Show OPERATIONS HI Ell HILLS Net Profits $18,057.44; Balance Bal-ance Due Bank Is $30,000. Tho May report of. tho Nevada Hills has bean mailed to shareholders. Secretary C. F. Burton's statement, shows that 1260 tons of ore wore run through- the mill, averaging $12.45 per ton. The loss in the tailings ls given as SL56 per ton and the total loss In tailings is placed at $6073.06. Tho cost was $6.65 per ton and the not recoveries were valued at $46,403.06. It is evident from this report that the mill Is still treating the low-grade product prod-uct as it was previously announced that the company would clean up somo of; the low-grade deposits first. Tho company com-pany has practically enough in tho bank to offset the amount duo. Tho financial statement follows: REPORT OF OPERATIONS. ' Amt. Per ton 4260 tons-milled $53,076.1 1 $12.45 Loss in tailings 6,673 06 1.56 Net recovery $46,403.0S $10.80 Net costs 28,345.64 6.25 Net profit $18,057.44 $4.24 Owing to bank end of May business busi-ness - $50,000.00 Paid to date, in June 20.000.00 Balance now owing lo bank. ,$30,000.00 Approximated financial statement close of May business: Resources Accounts receivable $ 600.00 Cash on hand and in banks 26.100.00 Supplies In storehouse 53,000.00 Concentrates in transit S.300.00 Absorption (val. In solutions so-lutions $23,000.00 $110,000.00 Liabilities-Bills Liabilities-Bills payable $50,000.00 Net assets $60,000.00 So far during Juno tho mill has averaged aver-aged about 150 tons per day of a slightly slight-ly better grade of ore. so that a better month Is expected for Juno than for May. C. F. BURTON. Secreary and Treasurer. |