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Show II COPPER DEAL IS II ON INJICHIGI mm Keweenaw Offers to Take Kj One Basis. II NEW LAND PURCHASED IIS Rounding Out of Big1 Com- II H pany Being- Engineered by I Thos. F. Cole Interests. III T. F. Cole, president of the Kewoonaw IH Copper company, lias Issued a statement URIj to the stockholders of the Phoenix Con-U Con-U solldated Copper company In regard to n Hill i ca' for inc'r possessions, which reads Hlw as "0U"0wS: I in ' "',e Keweenaw Copper company has Bui purchased approximately Gt3S2 acres of HIE additional territory, 00 per cent of which BSC in located on the mineralized area of By Keweenaw county, Michigan. It hua been HQi decided by tho directors of that company HD, to begin an active campaign of explora-1 explora-1 tion on the Ad h lied lode. B Vafuatlons of the properties of the Kc-BM'1 Kc-BM'1 wcenaw Copper company, the Vhoenlx n Consolidated Copper company and tho B&f 1 Washington Copper Mining companj BB have been made by an Independent e.ngi-BPJ e.ngi-BPJ necr, from which a ratio for on exchange of sharo3 'of stock has been deduced of HI l(!n scares of Phoenix for one share of BD Keweenaw and twenty shares of Wash-US! Wash-US! lngton for one share of Keweonaw. The HH directors of the Keweenaw Copper com-IH com-IH pany believe this basis to be equitable and II F1 otter to exchange Its shares for the HH shares of the Phoenix Consolidated Cop-HH Cop-HH pcr comrnn' 011 tn,s hauls. II Possibilities of Deal. HH If this exchange of shares is completed HH l'1e Keweenaw Copper company will own. HH including tho Asdibcd on the lands of the BH Phoenix Consolidated Copper company. BH about thirteen and one-half miles along HH tne strike of the Ashbed lode. In the HM past, mining operations on this lode have BW been conducted on' a Hmlled seal. It Bnl i" believed I hat by extensive dcvclop-Hlff dcvclop-Hlff ments and by producing a large tonnage H 111 OI rock under modern mining methods. II 111 "iat operations on this lode will bo prof-Ill prof-Ill In order to pay for the additional ter-Hl ter-Hl ritory acquired, liquidate Us outstand-Bl outstand-Bl ,nK Indebtedness and provide funds for B9 1,10 Proposed explorations upon the Ash-Bl Ash-Bl ne(i. the directors of the Keweenaw Cop-HH Cop-HH P1'1" company have called an . assessment HH of 52 a .harc, SI. payable October 1. 101". HH ant January IS. 1313- if '" ile.slro HH 1 exchange your shaves of stock in the HH Phoenix Consolidated Copper rompany for BH sharps in the Keweenaw Copper company IIH n the above basis, your certificates must BH' hn deposited with the Old Colony TrujU HQ company, Boston Mass.. An o.r before the IBM Gih dav of December. 19)2. properly en-BH en-BH closed in blank. The first 'Installment of Hn this n-saesamcnt will bo paid before any fin shares of Keweenaw stock are Issued n BH t"'F exchange; consequently, the Kewc-HH Kewc-HH naW poc'f 5s offced on a basis of ?lu BH a shar paid in. HH 0,t flf,ir,-': no following statc- HH' ' 1P"' 10 ",fl Keweonaw shareholders: Hi Keweenaw Statement. HH The directors of the Keweenaw Copper BH company riav? submitted to the stoek- BH holder of the Phoenix Consolidated Cop- Hffl ,,er fompanv. by the enclosed letter, an HUH c ffer to "xchangf one, share of the sto'k Bin f he Keweenaw Copper company for HEu RnaFcs of l,lc slock of the Phoenix BH Consolidated Copper company. The pur- Hifl pose, of tnls exchange is to mak il pos- HPI sible to pursue extensive developments Bin on ,,,c Ashbed lode, in the bllf (hat, H&f.i D ,nc production of a. large tonnage of Hkw roc'k under modern mining methods, such B 'H opera tionn will.be profltablc. During the B n year 1910 some diamond drilling was Bl I done on the Phoenix properly., the result H Iffl wl'lfh has shown the Ashbcd lode to B fiffl he mineralised for some distance Jj igj The Keweenaw Copper company, by an B II assessment just called, has provided funds Hit II or sucn developments, and if the ex- Bfil change of stock offered by it :o the stock - Bl! holders of the Phoenix Consolidated Oop- Bjli I"?r company and the Washington Cop- B1?B Per f'nlnp company is completed, it Is Bnl? believed ihaL development work will dis- BISm close at many points on Its lands a large Bsifi tonnage of rock which can be profitably Hfl " This proposed cxvbango offers the only i HS&M means of further developing your prop-: rJSl prty, except the calling of an assessment. HiSl Hn't ,fi hellevcd by your directors that BIS& ne exchange offered is preferable to un- PHns dertaklng alone to develop tho Ashbed HHi on your property. |