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Show Page OIL & MINING JOURNAL 6 000 VQDC? RICHARD BLACKBURN Arizona State of Maine Mine and mill on stream A 100 Ariz. tpd cyanide leaching mill built by hand in the spare time of its owners, is on stream at the famed old State of Maine Mine near here. Louie and Charlie Excapule have long owned the State of Maine, a mine their grandfather worked 90 years ago. The mine, located on Uncle Sam Hill in the TOMBSTONE, Dear Mr. Blackburn: .While most of your readers have been writing in about the losses they have taken Ive been sitting back watching my stock move to higher levels each month. People used to kid me about my purchases of penny stocks but this year they arenlt laughing. For instance: Last June I bought 10,000 shares of Gassic Mining at 4c. By September it had gone to 26c (then I sold out half of my holdings). Last week it was 39c and today as I write you this letter it is 50c. Hope you don't mind me bragging a little. But it's my turn since the blue-chi- p buyers have had it their way so long. Carl Belknap Dear Mr. Belknap: Cant blame you for wanting to share your good news with us. Congratulations. Would you like to tell us which penny stock is going to do the same thing during 1970? FEBRUARY 23. 1970 The long hours of work recently paid off as one of the plant's two leaching tanks was loaded and the leaching cycle began. In the cycle, ores are sized and placed in the tanks where the weak solution of deadly cyanide dissolves the silver and gold from the ore and the solution, carrying the values flows into a battery of zinc boxes (containing zinc shavings) where the gold and silver are precipitated out on the shavings. The cyanide solution moves on into another tank where it is brought back to strength and returned to begin another leaching cycle. southwestern portion of Escapule Basin some two and one-ha-lf miles from Tombstone, was a big producer during early Nevada minine dayes. Included on he property are huge dumps containing considerable values in silver and gold, and underground are e ores which were low-grad- Dear Mr. Blackburn: Please send me the folder on you wrote about in your recent column. Do you have any folders that are directed towards a womans view? If so, please send one. A envelope is enclosed. Esther Bustamante self-address- dollar-cost-averagi- ng ed Dear Miss Bustamante: Yes, I have a folder entitled: 10 Questions Women Ask About Mutual Funds. A copy has been sent to you. I have a limited supply on a a first-com- e, self-address- ed basis for any of our readers who send me and stamped envelope. first-serve- d Dear Mr. Blackburn: enjoy your column very much and want you to know that I have learned a great deal about the stock market from the many instructional items you have carried. I've never written a newspaper before but would be curious to see your answer to this question: Isn't it true that while the Dow Jones Industrial Averages have dropped substantially many stocks have gone upl Craig Horton 1 Dear Mr. Horton: You are quite right. Here are some samples: blasted loose then put aside in favor of richer materials. With no mill in the district to handle their ores the owners decided to construct their own cyanide plant to remove the precious metals on site. They studied all the information they could lay their hands on, pouring over books on the construction and operation of a cyanide plant. Flans were drawn up, a site excavated, and actual construction began in August of 1968. Both brothers work full time at other jobs and every spare moment was put into the construction of the plant. Even their wives and children served as rock masons. Louie, something of an electrical wizard, developed a sophisticated system of controls for automating many of the operating procedures, while Charlie, a whiz at constructing - '- ' ; ' , mechanical devices, went to work at planning methods of moving the ores to be treated BUILDERS, OWNERS and operators of State of Maine Mine and handmade cyanide mill are Esculpe brothers Louie and Charlie, and sizing them. here inspecting beaker of precious metals from their own mine and Wvv. Bennett opposes oil import Sen. WASHINGTON Wallace F. Bennett, h, mill. ATTENTION SECURITIES DEALERS INSURANCE COMPANIES & FUTURE NASD REPRESENTATIVES has urged Secretary of Interior Walter Hickel to reject an You wrote that a call option was usually good for six months and application by a U.S. firm to ten days. What if the stock goes up two weeks after 1 buy the option residual oil up and then by the time the six months are up it has gone back down? import foreign the Mississippi River to Chicago, Its been no good for me then, rightTlease send me the folder you to replace domestic coal. described. Thanks in advance. Mr. Ennis Fiori It is my understanding that air Dear Mr. Fiori: pollution can be controlled at lower cost by using low sulfur You can buy options for three months duration, six month and domestic coals or by building ten day duration as well as one year option. It is my belief that the sulfur dioxide removal plants, average option purchased is for the six month and ten days. Sen. Bennett said in a letter to If the striking price of the option is, let's say 20 and two Sec. Hickel. weeks later the stock has risen to 26, then you would surely want to Furthermore, approval of call your broker and tell him to exercise the option in order to get this application might well be the profit made so easily. Options may be exercised anytime up to used as a precedent to throw the expiration date. You do not have to hold on to them for the full open the major portion of our term. Before I go on to the next letter, 1 should explain the term striking price. That is the price of the stock you are guaranteed by the option. It is determined at the moment your broker obtains the call option for you; energy market residual oil, which would pose a severe threat to our economy, said the Utahn, whose state is a area. Sen. Bennett said, Because of these reasons, and in light of the potential tremendous drain on our countrys balance of payments if the major portion of our energy market is ever thrown up for grabs, I urge the rejection of Commonwealth Edison's application. coal-produci- For instance: As write this column Del Webb is approximately $10 a share. If you wanted a six month call option on Webb, it would cost you approximately $237.50. Ihe striking price would be $10 (today's price). It is obvious that Webb would have to go to 12 38 before you were even. But if you only had S237.50, this would be one way for you to control 100 shares of Webb. Otherwise you would have to come up with $1 ,000. 1 (Continued on Page 6) to foreign 2 NASD PRINCIPAL'S CLASSES FRIDAY, I SATURDAY, SUNDAY February 20, 21, 22 OR March 20, 21, 22 ALSO 2 NASD and UTAH STATE REPRESENTATIVE CLASSES FRIDAY, SATURDAY, SUNDAY, MONDAY Feb. 27, 28, Mar. 1, 2 (Monday is a repeat of Sunday) OR MONDAY, TUESDAY, WEDNESDAY Mar. 30, 31, April 1 - ALL CLASSES 9 A.M. 5 P.M. RAMADA INN ng 1000 S. State St, Salt Lake City RESULTS GUARANTEED Write: INVESTMENT SECURITIES SCHOOL 710 East Speer Boulevard Denver, Colorado 80203 Phone: (Collect) 303 744-71- 37 |