Show WIELD COLD fiELD CON IS THE TUE GREATEST GOLD GOLDE GOLDMINE MINE E IN THE TUE America can now boast of possessing the premier gold old mine of the word world thus wrestling wresting first place from the thc Transvaal The Tho RobInson mine had for s some ome years ear distanced all an others other reaching an annual output o approximately The Tho Goldfeld Consolidated Mines Unes company re reports reports ro- ro ports poris a u. production from its properties In Goldfield Goldfeld of fi in its Is last OsCal fiscal fis Os- Cal cal year This splendid showing was the result The ThenEt Thenet Thenet of milling tons of ore orE net nEt profits were out alit of which ci dividends a mounting amounting to were paid being at tho the rate of per share shar The management lino Ittia been beyond criticism clam cism both in Its Il technical and business This Thia has hat due to th the a aspects been high attainments of J. J II IL J. J Mackenzie Beginning Beginning Begin Begin- ning with ll the pioneer work wont orl of o J. J V. Vi Fin h during the tho period while the properties were being selected and bi brought ought together progress has been steady until now itow when these mines have been finally finaly placed on ona ona ona a solid sold basis for future success work working In out many difficult problems in economical mining and milling The construction of the tho new Consolidated mill mi was an achievement achieve achieve- ment of which engineers might be bo proud and Mrs rs Mackenzie A. A It H. Howe and the others concerned may take tako honor In Inthe inthe the tho record it is making It I Is la th the tho most notable structure for 01 gold milling in America and represents a I plant of oC the highest type of efficiency in accord with modern practice complete in its Is details from tim the very beginning no other grE great ver plant in America dealing with the precious metals Is freer from the disadvantages disadvantages dis dis- dis- dis advantages of partial reconstruction a point of importance in economical opera opera- tion ton System and close attention to detail dotan do- do tail tan have been heen responsible for reducing the total cost to per ton In view of the high costs of supplies and labor the Irregularity of the deposits and of the further fact faCt that this figure includes fixed charges such a I result Is remarkable The items of f labor O and supplies J made e up tip Si 36 ngu out of dt a o f of e g f T The e milling mill mill- ing costs were 1951 1951 per ton and tho the I extraction reached per c cent nt This again is a remarkable achievement when it Is remembered that tho the average assay I value of the tho ore sent to mill ml was i A full fun analysis of the years year's work will wi appear appear appear ap ap- ap- ap pear in oui our issue for next week weel We Ve I may remark here herc that Mr r. r Mackenzie an announces an- an flounces s the perfection of an economical method of refining on the spot which will wl I enable the company In future to ship bullion bullion bullon bul bul- lion fine The activity in development lon is worthy orthy of commendation nearly nearh 2 25 23 per percent pel cent of the entire entro operating cost cst being on that account I The result rEsul Is that the year closes with over tons lons of ore reserves developed devel devel- ped representing about four years years' supply sup sup- ply which gives a I safe margin We fo have frequently urged that a well wel conducted mine should at least keep its Is d development three years ahead o oZ of mill mi needs This shows allows a safe margin of unforeseen contingencies con con- says Mining Press I IThe The production has been increased since the annual report was issued the amount of Df ore milled in November having been 1985 tons avera averaging ln per t ton A Additional Ad Ad- equipment for Increasing the capacity ca ca- ca- ca parity of the mill ml has arrived so that the current year will wl witness a still larger output of bullion bulon For several years to come the Goldfield Consolidated will wl manifestly man man- ore hold its place securely as the greatest gol gold l mine in the world The h speculating public will ni 1 accordingly watch the fruits of development with keen in In- In terest In the price of the stock the fu future future fu- fu ture Lure possibilities have been discounted heavily This is a matter which admits of Df mention not of criticism The market market value menton of Is what people are wIlling willing will wIll- wJ- wJ ing to pay for it it Intrinsic value Is dif dif- dif dif- ferent In the case of the Goldfield Consolidated Consolidated Con Con- the policy of publicity has been pley frankly adopted An Any one who 10 buys on the strength of supposedly Inside information nation mation Is proceeding from front premises which maton are evidently e not Justifiable We e believe the public is informed of the situation situation sit sit- beleve fully by the monthly statements and sod such new development as can take place within any single month is insufficient to warrant an appreciable change in cent the price Tevel Yevel of shares We re have already tle extended our congratulations to Mr J. J R. R Finlay upon his accession to the management His capability resourcefulness resourceful resourceful- ness and high character are a guarantee of tf faithful and efficient discharge of the large responsibilities which he has as as- turned |