OCR Text |
Show INSPIRATION PLANT J TO OPERATE SOON j Mill Designed for Treat J ment of 10,000 Tons Daily ' f j Nearmg Completion. Providing present plans are carried out, j the Inspiration Conso tdated Copper com 1 pany the mines of v, 1 lch are located at , Miami Ariz will begin operations on a large scale In April and as the market for copper warrants the output -will be , Increased The ml designed for the treatn ent of 10 000 tons of ore a day la nearing com f pletlon and It now appears that this p ant will be capable of hand ing 12 000 I tons and that with the installation of additional mach nery the capacity can be raised to lo 000 tons It is figured that with a dai y capacitj of I 000 tons the annual product on of copper shou d he approximately lOo 000 000 pounds hi e with a capacity of 15 000 tons a dav the output shou d be about 131 000 000 pounds Engineers of the company estlma e t at when the p ant is n f u 1 operat on the cost of production wi 1 not exceed 85 cents a pound with a probab lity that u t mately the cost of production will be sti 1 lower Figuring the cost of production at 81 cents and a daily output of 1' 000 tons the earnings per share ith a 1 bonds I converted) wi 1 be as folio vs With cop per at 12 cents, a pound S3 21 a share at 13 cents a pou d $4 Id a share at 14 cents a pound $o 05 a share at lo cents a pound $o 97 a snare S ou d tho cott of production be re duced to S cents a pound the earn ngs per share on an output of 12 000 tons is estimated to give the fo lowing res t Wi h copper at 12 cents a. pound $1 67 a bhare at 13 cents a pound $4 60 a share at 14 cents a pound So 59 a share at 15 cents a pound $6 43 a share Up to the en I of 1913 there had been de eloped 73 3 2 000 tons of su phlde o e with an average copper content of 1 71 per cent wh ch Is expec ed to yie d twenty five pounds of copper to the ton In add tion approx mate y 16 000 000 tons I of lower grade oxjd zed and mixed ore I have been deve oped which may not be i mined econom cal y at present, but which wi I no doubt pro e ultimate y aluable I Besides the ore in s ght there are good posslb lities of additional ore discov eries On December 81 1913 the company had 1 on hand cash amounting to $1 81 000 S nee that t me, however $4 500 000 6 J per cent debenture bonds were issued i and were nderwntten by a syndicate j headed bj J P Morgan & Co Conse i quent y the company not only has all the funds required for the completion of Its plant and the development of the 1 mines but will start operations with ' ample working capital |