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Show MIAMI COPPER NOW HITTING ITS GAIT Miami Copper win make its initial report re-port as an operating mine to Its shareholder share-holder at the nnniia'. meetir.cr on Wed nesday. The period of actual production covered bv the renorl extends from th. middle of March. If it. when the concentrator concen-trator at 'Hob. Ariz. started, to the end of the calendar year, during which period Miami turned out about 12..2.V- 000 pounds of refined copper. Miami's production in the first quarter of the current pear IS about 7. 600,0 Oil pounds of which L' 800 000 pounds was made In January, 3.4)00 000 pounds In Fe.bruarv hikI apnroxlmatelv 1.000.000 potindi In Match Miami's six units are 1 BOW running and the . .1 j y.ii t ix now at the rate of lfi. 000. 000 pounds per annum UitimatS prospective eapnclrv of the mill Is 4.000.000 pounds a month or 4S.O00-000 4S.O00-000 pounds S year frcn eight units but oniv six units have been completed to date Miami's coats on the present prod'je. tlor, hurls are estimated a' 6c ;i p.un.i I which would give the following earnings 1 per share on the 74V7XS shares outstanding out-standing and on the price- ,.f copper 1 shown in the following table: Cot per Earnings per Sh at Production Pound Hi- l"c lc 3COAO.00 lbs. SJc $;.g $3.1J ts.&o With a production of 3iJ. 000,000 pounds Miami's net earnings on l-cent copper should total about Jo.'iOn per unnum r,r $7 00. 090 In exc.ens of the present dividend divi-dend distribution of about $l,500,0O0 per j annum |