Show NET NT PROFIT REACHES BIG ilic fIGURES fO fOR 5 UTA COPPER CO S. S Report for Sixth Quarter Reduction in Cost Shows J L of Producing s The sixth quarterly report of or the Utah tall Copper company shows haws that the ros output outS output out out- S put I. put or of copper was as 1 pounds greater gratcl tn that for or tho the previous quarter and the tho total COPP copper I contained In con concentrates concen n- n produced and shipped to the smelter during the quarter under lon Ion wa was l D 6 4 pounds an as against pounds for Cor the quarter cecil Ia-cecil- ing The net profit from mining minim and JlII milling milling mill mill- ing o operations for time the quarter amounted to Tho Tim additional im front from 01 rent and other Incidental items amounted to making a n total net omit pm-omit for lor forthe the tho quarter of or J The average a price of lr copper upon which the earnings above o staled were based an waa 1 12 c cents as 68 compared with an nn avor- avor ago oso price of or cents applying to the tho quarter previous lou At t t the clo cIon of or the time quarter under discussion the company had no finished copper u unsold 0 III hut but on the contra contrary all copper in transit unit and In process pro pro- cess of oC treatment and r which will due for delivery up to December It II has been hold oId I The fn increased output of or copper due to tn th the sll slightly hl higher her grade of at the thc ore arC and andS S to its better concentrating characteristics reflects Itself el very decidedly In the tho per pound co cost t of production as 8 d with either the tho first or second quarter of or orthis this year car For tho the quarter under discussion discussion discus discus- sion Ifon tho aV average ra cost at ot both plants WIl was wan cents per pound for tor the net copper opp r produced after ACtor deduction of or smelter al allowances at- at as against c cents nt per pound for or the second quarter and for the first quarter cents per r pound Considering Consid ering tho the r results of or the plant by br themselves s the tho cost per pound of the thenet thenet thenet net copper produced d was wall 7 cents The Tho total P per por r ton cost o of mining and milling was reduced as compared rr with the previous quarter L by nearly 0 cents centi The actual cost at the plant o of milling was vas at Garneld slightly In excess of 4 47 17 cents per ton Fixed and general gent charges charS s such as ta taxes eR insurance general of office expenses salaries etc Increase the ac actual actual nc- nc working cost b by approximately 5 cents per ton so that tho average total co cot t or of milling at tho the Garfield plant with these these- ch charges cs added amounted to cents per dry do ton The rue average milling cost for tor both plants Including all fixed and general charges was as cents per dr dry ton Tho The cost of at mining and all expenses expenses' incident thereto at tho the mine were 1539 cents per pert t ton n. n G General n raJ c expense pense items such ch as s above ove referred to in connection with mining min ing together together- with development tle expense pense und and the tho fixed charge per ton to retire prepaid prepaid pre pre- paid vald stripping expense amount to cents per ton making the total average cost of or mining for the quarter 2522 i 2 cents per ton and the total average cost of or mining and milling for Cor both plants including in In- In eluding all general charges development maintenance etc cents centz per ton The tonnage of or underground ore mined was further reduced d during tho the quarter to 14 U per pr cent of oC tho the total ore ort mined At Al tho the dose close o of the quarter underground work had been entirely discontinued with the exception of u a moderate amount of oC development work and In the future all an allbut allbut but an insignificant portion of oC the tonnac tonnage which will come from rom development win will willbe willbe be bl extracted by b- steam shovel mining Stripping opera operations continued throughout through through- ou out tho the quarter at an average o rate of or cubic yards per month a total for forthe forthe the quarter of cubic yards equivalent equiv equiv- abut alent to the complete stripping snipping of 01 about four fOUl acres of or ground round which would contain con con- tam tain approximately tons o of ore Throughout tho the qU quarter r both the reduction reduction reduction tion plants continued in operation at approximately approximately ap ap- ap proximately their full rull capacity with the tho exception that during part of the tho months of PC Jul July and August the Copperton plant was not in tn full fun operation on account o of sonic some alterations that were bel being mad made mad |