Show RAY CON PRODUCING I POUNDS I oi Of COPPER MONTHLY The production being made by br bythe bythe the Ray Consolidated is h placed d at a j pounds monthly which the m management expects to increase to at 1 least al pounds b by the eJ end of the year year Up to October 1 this company had d turned ture out pounds of or copper copper concentrate concen- concen This Thin gives shareholders some m idea IdeS of o what the Ive property I Is I capable of producing and that the yield will 11 eventual eventually even even- be bE much I larger I Is assured from operation nl up to the present time President AldrIch la says s s 's that mill mi extractions ex cx- tractions are a averaging about 6 69 perc percent per percent c cent nt from ore containing per pEr cent copper One section o of the null mill Is now giving e even lh better results ft st as adjustments J h have ve been made mado which best meet the re requirements to- to r- r of ot this ore The Th Tl now owned b by the American Smelting arid and Refining company com corn pany should bo be b completed early in 1912 1913 Ray nay carr delivery delver of the principal prin prin- cOpeS cipal portion of concentrates to the smelter cpa on January 1 1 and the entire Ure output output output out out- put after April 1 Until concentrates are shipped to Hayden they will wJ be sent to El Paso Past which imposes Impose an added expense In execs excess of or li a cents per pound as against t the C cost of smelting at under the fr new hew contract For Tor the six Ix months up to October 1 the he cost of or producing copper has hal been I such that tha with wih the above above- credit applied the net cost per pound would have have ex exceeded ex- ex t Only slightly estimated costs cost of or production when operating at full ful tonnage ton ton- nage nage When the plant runs at full ful capacity ca Ca- tIm the cost of or copper even from the grade grad of ore now handled ed will wi be well weil below biow f 9 cents per p pound The Ta Ray flay i- i Gila Gia Valley Valey railroad h has given entire satisfaction both from an anI I opera operating and earning earning- standpoint Equipment at t No 1 shaft shaH was put Into 10 operation May ay 1 10 No 2 I shaft haf equipment is ready for operation t Development e In Inthe Inthe the eastern section s served r ed by No gmt 1 I shaft ta has been e practically t al completed and there theres i g er Js s now tributary to the levels developed come r tons of or ore read ready for sto- sto sto-I sto ping 1 During September the cost Cost of or mining i a proper portion porton of or current i cost COt was about 65 cents a ton which in included In in- eluded crushing and delivery of ore ore- oreon on on ona cars ars a The company should mine I its ores at a a ost cost of not exceeding 75 5 cents a aIon aton aton ton Ion this f figure lre including retirement of ofal all al the Investment expended or to be spent in underground development The management expects to produce an ore averaging per pel cent copper when supplying supplying sup sup- uP- uP plying tons per day Up to October 1 J a total of or l 31 feet of workings or approximately twentythree twentythree twenty twenty- three and three quarter miles mies had been accomplished or Of the tho eight ht sections of the mill mi four have a been e. e placed in operation The fifth l I i f Is in process of completion 0 P I and d all equipment equip equip- m ment nt is on hand for the remaining three sections The four now In commission I Iara are ara treating somewhat more than SOl tons a da day each ench but are designed to 1 handle 1000 ton tons each tach and have demonstrated demonstrated demon demon- demon I their ability to handle this ton ton- nage The fifth section Meton will 1 be completed corn com earl early this month but will wi not com I be needed b before fore the end of the year |