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Show AUGUST 17, 1970 OIL & MINING JOURNAL PAGE 2 Cascade Energy reports at annual shareholder meeting The government's plan to stop selling silver this fall is creating a new wave of speculation in the metal. U.S. Treasury officials have announced that the government will halt its weekly silver auction in November. With the government out of the market, it. is widely believed that silver prices will begin to climb. Silver consumers in the free world every year use about 110 million troy ounces more silver than is mined(there are 12 troy ounces to the pound). And government sales, which have been feeding 1.5 million ounces a week into the market, have been a major factor in balancing supply and demand. In addition, the ranks of silver speculators are being swelled by securities investors who are disgruntled with the long bear market in stock. There are more stock-markplayers who go into silver trading than into any other commodity I know of, Walter Emory, commodity research director for Shearson, Hammill & Co., said in an interview in the current issue of Dun's Magazine. The first wave of speculators flocked to the market in ' 1967 after the government stopped selling silver to all buyers at $1.29 an ounce'. But many were burned badly when silver prices entered a prolonged tailspin in May, 1968. The price tumbled from 2.85 an ounce at that time to $1.51 last Cascade Energy & Metals Corp., Salt Lake City, told shareholders that it has entered into a reorganization and exchange agreement with Westland Films Corp. ; of Encino, Cascade, and Art Centrum Reductions, a wholly owned Canadian subsidiary of Cascade, has been exchanged for 85,000 shares of the common voting stock of Westland Films. Also conveyed in the agreement, was Cascade's right, title and interest to its agreement with Art Centrum t Inc., a government corporation of the Socialistic et Republic of spring. ' During that time, one Detroit insurance man lost $536,000 in seven months in the market. Dun's pointed Czechoslavakia, which agreement provides for that Cascades Heusser Mountain shareholders that Cascades wholly owned subsidiary, property consisting; of in exchange for 628,438 shares of the common capital voting stock of Silver Metals. Cascade held the claims . 31 budgeted for work on the Heusser Mountain silver BuMines office ' properties, the board reported. Cascade is currently obtaining additional financing for further development of the Rex Montis owned by Silver Co.. (40 Cascade) mine at the 10,8000 foot level of Kearsarge Peak Interior cooperation between State and WASHINGTON-Th- e Department will open the first Federal officials on matters of a series of Bureau of Mines involving mineral resources, Sen. Bennett explained. Utah . liaison offices in Salt Lake City, has the distinction of being the Sen. Wallace F. Bennett, announced. He said the opening first state designated for such a date of the one-ma- n office liaison office. Others will follow later in several cities, including hasnt been set. The office is being Durham, New Hampshire; and established to enhance Rolla, Missouri. R-Uta- h, matter. money." Yet the glittering forecasts keep coming and the ranks continue to swell. Some analysts predict the price of silver will climb to between $2 and $2.40 an ounce within a year and as high as $5 or $6 an ounce by the mid-- 1 970s. The price currently is about $1.78 an ounce. se some $90,000 has been Like other commodities, silver futures can be purchased for just 8 percent cash. With most brokerage houses, $2,000 in a margin account and a telephone call will do the job. The investor can buy a contract for delivery of silver up to 18 months in the future, with a minimum down payment of $1,500 for a 10,000-ounc- e contract on the New York Commodity contract on the Exchange, or $750 for a 5,000-ounc- e Chicago Board of Trade. But getting out of the market with a profit is another bly under-- agreement with a for provided purchase price of $350,000 on a lease term of 10 with an option to renew .owned subsidiary Terra yean, 10 for an additional yean. .Resources, Inc., which has Silver Metals, formed Sept entered into a contract with :Hckands Mather and Co., one of 24, 1969, owns mining claims in the worlds leading producers of White Pine and Pershing counties iron ore pellets and a major mine of Nevada. The company management company, the recentlythesought registration Securities and under board reported. Act of 1933 by filing Exchange will The joint venture seek to A. Of the amount a .develop Terra Resources toRegulation be raised by the offering, lease-purcha- out. One analyst, comparing silver with other commodities, told Dun's: Potatoes only respond to potato factors, but silver goes wild because of psychological factors like fluctuations, and currency uncertainties, interest-rat- e behavior of the stock markfet." For reasons best know to themselves, silver speculators tend to parlay winnings and gamble everything on the new as recently happened in the stock move up. But this-jil- ftt market-inevitaand prices plummet," brings a blow-of- f one floor trader said. The average silver trader lasts six months," one expert told Dun's. That's how long it takes him to lose all his six unpatented claims lpcated about 7 miles north of Ely, Nev., have been sold to Silver Metals, Inc., RETEP Corp., is continuing to develop industrial supply sales on its patented fuel saving device known as FUELSAVR. The training of additional salesmen is expected to increase profits during the next six months, the board reported. Work is progressing on the joint venture with Cascades 90 Centrum, Inc., and Art Centrum Productions lid. All the outstanding stock in Art Centrum, a wholly owned Delaware corporation of films: The board of directors told ; Lincoln County, Nevada, reported earlier in the Oil & Mining Journal The board told shareholders relative to Czechoslovakian . Calif., in connection with Cascades subsidiaries, Art et free-mark- certain distribution rights property in as above Veins Calif. have yielded samples assaying from 1.7 to 4.8 ; ounces of silver per ton with some gold sampled, the ' board said. The company is also moving ahead with its (dans to develop the patented solution mining process known as the Kali process. Cascades wholly owned Canadian subsidiary,. Starfire Uranium Mines Ltd. will acquire the assets of Lynbar Mining Corp. Ltd., the developer of the process, and a U.S. Delaware corporation will be Kali Development formed . This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is made onfy by the Offering Circular. . Independence, uncovered to date New Issue 3,000,000 Shares QUANTEX CORP. Common Stock Price $.05 per Share Corp. i to continue the development and marketing of the process. The agreement has been Copies of the Offering Circular maybe obtained from the Underwriter. submitted to the Ontario Securities Commission for Cascade is and seeking approval tax rulings from the U.S. Internal Revenue Service and a letter from the U.S. Mednick Brokerage Co. 201 Boston Bldg., Salt Lake City, Utah 84111 - Phone (801) 355-387- 5 no-acti- on Securities and Exchange Commission, the board reported. 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 Circular. 25 Cents a Copy Subscriptions $10 Per Year NEW ISSUE Advertising Hates: Display AArertising Classified Advertising . , Phone: Editor & Publisher VALYEK MCORMfUTU) 300,000 Shares Common Stock PRICE: $1.00 Per Share ($00 Par Value) Copies of the Offering Circular may be obtained from: Second Class Postage Paid at Salt Lake City, Utah ! VICTOR CARTWRIGHT THEOBALD G PEARCE P.O. Box 10 487-07- 68 or 298-37- 03 Chuck Hayward Provo, Utah 04601 Phone: 375-257- 0 60 South Main Salt Lake City, Utah Phone: 364-100- 3 Other offices in Phoenix and Tucson 1 1934, since the company has in of 900 shareholders of record and total assets exceeding $1,000,000. The board urged shareholders to review the shares of stock of Cascade Energy & Metals which excess each owns directly or beneficially with a view to with the compliance of an initial requirement $2 col. inch $2 for 20 words board of and Exchange Commission pursuant to Section 12(g) of the Securities Exchange Act of Published wesldy in Sait Lake City, Utah, by Charles E. Hayward of I , . 4386 W. 3780 South, Grwigar, Utah 84120. Mailing addrew: P.O. Box 19243, Salt Lake City, Utah 84119. Serving the mining and oil industries of the Rocky Mountain Region. Articles and information herein ere true and factual to the bast knowledge of the publisher. Information and opinions published are die pole responsibility of die publisher and do not reflect the attitudes or opinions of die merchants, .broken, corporations and service firms who advettise honip qr otherwise sponsor this publication. The Cascade directors also announced at the shareholder meeting that the company has filed a registration statement with the Securities filing statement of beneficial ownership of securities if such or ownership constitutes 10 more of the stock of the company. Such filing is required within 10 days after the date the registration becomes effective, which in the case of Cascade is August 13, 1970. The number of shares of Cascade on August 13, 1970 was 4,348,733 shares, the board reported. |