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Show Up? OIL & IJnited Park City leases I area pine jo joint venture United Park Gty Mines Co. lays it has approved the granting r )f a lease covering all of its nining properties and facilities . o a partnership composed of aconda Co. and American elting & Refining Co. The ease covers about 10,000 acres f mining property near ty, Utah. Under the terms of the lease, kh still must be approved by e boards of Anaconda and American Smelting and by United Park Gty shareholders, a 'frinimum expenditure of $2.5 trillion is required during the first two years for geological and snine development, with a Irk 'minimum of $250,000 expenditures each year thereafter. I' United Park City will also receive an advance against the royalty of $42,500 per quarter during the first two years, $35,000 per quarter thereafter and 10 of annual net income from operations before recovery of the total investment capital. United Park Gty said it has also approved the granting of a pending option under which the Royal Street Development Co. of Newport Beach, Calif., will purchase United Park Gtys 4,200 acres of resort facilities and developable real estate lands in the Park Gty area for about $6 million, payable over 15 years. Mineral rights will be retained by United ftrk City. The option agreement is subject to approval by United United Park Gty said it will receive a royalty of one-thir- d of .cumulative profits from operations after recovery of the necessary investment capital. Park City shareholders and would allow United ftirk City to of the purchase up to 42.5 common stock of the purchasing company. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is made only by the Offering Grcular. NEW ISSUE January 20, 1970 Par Value Per Share REVERBERATORY METALS. INC. $L00 BONNEVILLE SECURITIES, INC. (801) 322 A I Salt Lake City, Utah - 3515 E. Hayward, of 43 W. 3730 Soorth, Granger, Utah 84120. Mailing addraw: P.O. Box 18243, Salt Laka (Sty. Utah 84 119. in Salt Lake City, Utah by I Chart signing for the board of directors. An expected increase in the price of silver, a planned merger with the Tombstone Development Co. of Arizona, plus an optimistic outlook for a and class postage paid at Salt Laka City, Utah Second decided to wait until bottom of the silver market had passed. We believe the price of silver is now sufficiently stable to go display Advertising-- .. Phaoe: EdtDr&Pitinher.- -. fidsXnt to tabinhor.. . .2 20-240- 3 or $2 col. inch for 20 words 283-370- 3 .Chuck HaywenJ EnidJ. Haywod be resolved in the fall, Frankovich stated. centurys biggest A story from United Press Ogden, Utah, reported last week that a silver deposit found by New Products Corp., Ogden, 60 miles west of Ely, Nevada, could be the richest silver find since the Comstock Lode 100 years ago. The Rocky Mountain Oil & International out of Mining Journal featured an article on the silver find in the March 16 issue at which time the company reported it was in the second phase of proving out the ore body. New Products Corp. has 1,500 acres of mining claims in the Hamilton Mining District. The company reported 'to its stockholders that at least 300,000 tons of silver ore have been discovered by drilling. Geologists . report the ore is visible on the surface and extends to a depth of at least 230 feet, lending itself to open pit mining, according to the UPI story. New ' Products obtained the silver claims when the acquired the assets of Atomic Fuel Extraction, another Ogden corporation. McMoRan Exploration reports on earnings, activity McMoRan Co. reported net Exploration income of $29,185, or one cent a share, on gross revenues of $385,490 for 1 969, according to McMoRan, a year-en- d d engaged in the oil and gas on the of exploration Gulf Coast of Texas and 1969, is Louisiana. The results the combined operations of the two companies for 1969 on a pooling of interest basis. Comparative figures for prior years are unavailable. While our 1969 figures are said encouraging, privately-owne- company prior to its merger with Horn Silver Mines Co. of Salt Lake City on December 5, reported reflect McMoRan President B.M. Rankin Jr., they reflect only partially the excellent progress made during the year which will result in a substantial improvement in our performance in 1970. Our 1969 Oil and Gas Exploration Program, which involved the drilling of 13 wildcat wells and two development wells on the Gulf Coast of Texas and Louisiana, resulted in five discoveries. With a record of five discoveries out of 13 wildcat wells drilled, added Rankin, our success ratio was 38 per cent, far in excess of the industry average. McMoRan plans, under its 1970 Oil and Gas Exploration Program, to drill 15 to 20 wildcat wells in Texas Louisiana at a cost $3 and $5 million. of between and Old antimony mine to be reactivated activity as a result of the rising price of antimony. A new firm, called Antimony Mining and Milling Co., headed by Ed Heifer, Osborn, Idaho, insurance and mining man, is reactivating the property. Three patented claims and 240 acres of mineral rights Securities leaders from surface stripping work at adjoining the claims have been purchased by the new firm from Idaho Antimony Co. of Kellogg, headed by Fred Albinola. Heifer said his company has leased the Golconda mill east of Wallace, Idaho, to concentrate the raw antimony ore. He said the mill is being readied for an initial shipment of 300 tons the Pinehurst property. Some 1,800 tons of dump material from previous operations also may be put through the mill. Several other old Pine Creek antimony prospects also are being inspected for possible production by the new company, Heifer said. Monthly Recommendations for n Lease Drawings" GEOLOGY Alaska Colorado Montana New Mexico INVESTMENTS SLUED I I through inoverlapping a the exchanges. memberships have coverage except a of Few believe that members the exchanges could be induced to put up money to cover the I possible insolvencies of I nonmembers, and this and other B problems could cause deep dissent, despite the show of unity in the letter to the SEG I I HUM RANGE 4c TO W specialise Py mining EVALUATIONS Phone (303) CONSULTANT Wyoming r V WILLIAM E. SWANSON P.O. Box 6384 Denver, Colo. 80206 Utah 8 market, has no such arrangement. Its members 1 over-the-count- er dont Advertising iatss the' Silver find could be (Continued from Page 1) .Subscriptions $10 per year 25 Cants a copy stockholder approval within the next three months. The court decision referred to involved a litigation with CDA Mines Corp. which will probably Development when both parties oil indwtriaa of tha Rocky Mountain Region. ArtMaa and information herein ara trua and factual to tha hart kiNNdadga of tha pddiahar. Information and opinion puHiahad ara tha sole rasponubRity of tha pubIWier and do not raft act tha attitudaa or opinion of tha merchants, broke, corporation and aarvica firm who haroin or otharwiaa aponaor thia publication. would be submitted for merger with Tombstone i Serving tha mining ahead with the merger and we are proceeding to bring the merger agreement up to date, Frankovich stated, adding that it was possible the merger proposal er The old Coeur dAlene antimony mine at Pnehurst, Idaho, first operated before the turn of the century is now seeing Pj Atij constructive Supreme Court decision all contributed to the expectation for a bright future. silver-coppThe report said the decline in bright for the silver J. Frank price last year had caused a company by Frankovich, managing director,, suspension of the planned SPOKANE Stockholders of American Silver Mining Co. were told that the next year looks announcement. FOR UTAH- - RESIDENTS ONLY Copies of the offering circular may be obtained from the undersigned only in states where the undersigned may legally offer these securities in compliance with the securities laws thereof. 601 Kearns Bldg. American Silver continues merger plans the companys Pii Shire April 20, 1970 L DALLAS 93200 Shares Common Stock. PRICE: $1.17 MINING-JOURNA- SAO 722-513- 6 STOCKS PfR SNARE silver, geld and uranium stocks and solnltive stocks. Wn neenpt collect cells on buy orders. in J. H. DILLON W. 412 Spcegeo. Spoken e. Wesh. & ffftl, Member Spokane Stock Exchange 8 0 0 CO. Tel. I I Ifl I 0 38-44- 38 Q 8 |