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Show Wwfcm " VON.aCUtATIMS Bulk Rate V. S. Postage I REPRINT FOR SPECIAL PAID Salt Lake City, Utah Permit No. 2091 DISTRIBUTION VOLUME 1 NUMBER 47 FEBRUARY 2, 1970 jp-- . 25 Cents per Copy Bennett, SEC agir jng rule questioi jfe 4 . WASHINGTON Wallace F. Bennett, Sen. says and Exchange Commission has agreed with his position that the potential consequences to the mining h, the Securities industry should be fully explored before new public disclosure regulations are put Into effect The regulations, which would apply only to mining operations, are in the form of proposed changes in Forms 10 and 10K. They would require companies annually to report publicly data on costs and profit realization per ton of ore, and estimated recoverable reserves. Sen. Bennett, in a letter to SEC Chairman Hamer H. Budge, said he found arguments by the mining industry against the proposed new regulations to be "very persuasive" and urged further study of the problem, and equal treatment for all corporations. In reply to the Senator's request. Chairman Budge wrote, "I want personally to assure you that no action will be taken until v. o m m i ssip n. fas fully explored whaWhe result might be. We are ndw considering the many recommendations which we received as a result of exposing the proposed-changeto the public for comment." s Sen. Bennett noted, "No other industry group is required to make such disclosures, and the possiblility exists for such information to be improperly used to the detriment of the industry. I am hopeful these proposals will be fully and critically evaluated." Arctic oil poses problem, for Canada pollution . . . AGREEMENT ON MINING, TRUCKING of uranium oxide ore from East Antelope Corp. Colorado property is signed by, from left, Carl Powers, E. Antelope president, Frank Stanley, trucking contractor, and William Buniger, president. Elk River Construction Arctic pollution, thea and construction of archipelago are and shall be subject to the sovereign control pipelines multimiooion 0 dollar Arctic and regulation of CAnada." The committee's study is 'a tankerport and, above all, the result of the Manhattan's direct fo basic question sovereignty over the Arctic waters. voyage last fall. The voyage, in The Canadian energies turn, was a sequel to the opening minister, J. J. Greene, has of the new Alaskan oil fields. East Antelope re pact signs u-o- East Antelope Corp. of Salt Lake City has announced the signing of a contract for the mining and trucking of uranium oxide ore on its Craig, Colo, property. Meeting with the presidents of a trucking and a heavy equipment company in Salt Lake City last week. East Antelope president Powers said Carl D. ore from the property will be shipped to area mills within the next few weeks. Mr. Powers said over 100,000 tons of uranium oxide ore has been blocked out by drilling on the property. Drilling contractor on the property known as the Fault Claims was" Walter Visintainer of Craig, Colo. Mining contractor for the operation, which is expected to be open pit, is Elk River Construction Co., Steamboat Springs, Colo. William H. Buniger, president. Frank Stanley, trucking contractor, Hayden, Colo., will haul the uranium oxide to the mill. Harold Smithson, East Antelope geologist, said .tests currently being run on the Fault Claim ore will determine whether the ore will be shipped to the Western Nuclear Corp. mill at Jeffrey City, Wyo., or the Union Carbide mill at Rifle, Colo. Union Carbide wants the ore if its vanadium content is sufficiently high, Smithson said. The Western Nuclear mill, at which tests on the ore are being made, does not have a vanadium circuit, Smithson said. Overburden on the ore body is from one to thirty feet, according to Mr. Buniger. The soil is all rock, but mainly fractured sandstone, Smithson said. IT'S YOUR MONEY by Richard Blackburn appears on Page 6 of this issue. The Northern Development Canada acknowledges that the Committee of the House of right of free passage exists under Commons has drafted a report international law, but the recommending that "the question of sovereignty is the Northwest Passage have government of Canada indicate important in determining opened up a whole new bundle to the world without delay that whether CAnada has a right to vessels, surface and submarine, of broblems for CAnada. regulate shipping and adopt of These include the questions passing through CAnada's Artie safeguards against pollution. OTTAWA The discovery of oil in the Arctic and the exploratory voyage of the giant U.S. tanker Manhattan through Conservationists contend that extreme care is vital to the preservation of animal life in the Arctic because pollution can be many times more devastating there than in temperate zones. disclosed that the U.S. Since then additional oil discoveries have been made in governemtn is seeking of these the CAnadian Arctic and After a recent visit to Washington, Greene said the Canadian government was not exploration is in progress. opposed to granting the access AlthoughoverCAnad ian sought by the United States, the Arctic sovereignty islands, and even the continental provided vessels using the shelf under the waters, is Northwest Passage do so under and in a recognized, the United States CAnadian jurisdiction, manner which "would safeguard debated in Parliament with has denied that his extends to our ecology." the Arctic waters. more discussions on a number question, especially the right of unimpeded passage of U.S. tankers through the Northwest Passage and construction of a trans-Canad-a pipeline. These questions are being increasing urgency. Mew Products locates New Products Corp. of Ogden Utah, announces that recent core drillings have uncovered a large ore zone at their Hamilton silver property near Ely, Nevada. J.L. Robertson, president, said preliminary assay reports show ''high silver mineralization." Additional drilling is under way to determine the extent of this mineralization and to determine if there exists commercial ore bodies, Robertson said. Drilling contractor on the property is Exploration Drilling Co. of Seal Beach, Calif. Robertson said New Products Corp. has completed acquisition of Atomic the os expected to be complete early next month. Fuel to Robertson, tests Extraction Corp., also of Ogden. to According date on the device show that Acquisition was made by issue reduces unburned of 2 million shares of New below 0.01 and Products stock, Robertson said. hydrocarbons carbon monoxide well below the The acquisition includes an office building in. Ogden, mining California standards of 1 New Products was organized properties in Utah and Nevada, device for two and an anti-smo- g ago for the years and driven owned licensing of gasoline engines development useful technical ideas, inventions by Atomic Fuel. Robertson said that further and innovations. It has several and refinements to the anti-smo- g products on the market the process of device are presently in progress others are in and an improved prototype is development. it .5. |