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Show Page 2 OMJ November 16, 1976 Work 50 complete on Rio Algoms Humeca uranium complex near Moab Work on Rio Algoms Humeca uranium and mill near Moab is about 50 percent complete and should be in production early in 1972, a company official said in Salt Lake Gty. Walter P. Arnold, executive vice president of Rio. Algom, Canada, and president of its U.S. .subsidiary, the Rio Algom Corp., left for Moab after touring Kennecott Copper Corp.s Utah Copper Division facilities. Were opening up an open pit copper mine in the Highland Valley of British Columbia, that will be the largest in Canada, Arnold said. However, it will be Much smaller than Kennecotts Utah mine, he noted. At the $21 million Humeca deep operation, a 2,700-foo- t ventilation shaft was bottomed last week. The other shaft has 300 feet to go to reach the 2,700-fodepth, Arnold said. These will be the deepest pranium mine shaft is in the U.S.,he added. ot Weve started surface construction of the mill, tailings area and shops, he said. . The mine is expected to produce a million pounds of uranium oxide a year for at least 15 years. Duke Power Co. of North Carolina has contracted to take the mines full production for a seven-yea- r period, Arnold said. Toronto based Rio Algom is a full scale exploration launching program in the U.S. with the - opemng of an office in Denver, Colo., he said. The company has uranium, copper and steel operations in Canada. Its parent organization, Rio Tinto, London, has mining interests. Arnold is a mining engineer who went to Canada from his native South Africa 13 years ago. He has been making periodic visits to the Moab site to check progress on the construction. The two shafts, about 18 feet in diameter, will be concrete lines. world-wid- e dupekin The ventilation shaft was sunk by Centennial Mining Co., Eureka. The production shaft is being sunk by Boyles Brothers Drilling Co., Salt Lake City. few The mining and milling operations 1are expected to By Chuck Hayward Several times during the past year or two we have employ up to 50 persons. ore body is considered an extension of the Alice Mine ore body which lies to the west on the other side of the The Humeca been approached by individual prospectors with the idea of a union" for prospectors which could act with a united voice in matters regarding dissemination of information, lobbying for faborable legislation, etc. We know of at least one instance in which an attempt was made through the want ad columns of this paper to get this sort of union" started, but due to a dearth of replies, or lack of effort on the part of the promoter, it wasn't carried thru to completion. The advantages of such a organization are too numerous to count, such as set forth above plus the added advantage of trip insurance for prospecting trips, discounts on publications and legal materials, state representation in class-typ- e all interests of in the defense of actions prospectors, claims by "block" of as indiscriminate such the filing n a promoter recently in Nevada, etc. There is no question that this sort of organization is needed, and we are willing to use the facilities of this newspaper and the services of our friends to get it Lisbon Fault. The Alice Mine is operated by Homestake Mining Co. Brush Beryl, tells profits; eyes production hikes DELTA, Utah Brush Beryllium Co., Cleveland, 'eported sales of $3,216,449 and earnings of $2,214,715 or 92 cents a share, for the first nine months of 1970. This compares with sales of $28,081,499 and net income of $2,494,284 or $1.03 a share for the first three quarters of 1969. The firms beryllium mine and mill are located northwest of here. Sales of the third quarter were $9,860,156, with net income of $435,567, or 18 cents a share, compared to $9,445,910, and net income of $858,565, or 35 cents a share in the 1969 quarter. The company said the third quarter decline resulted from lower production because of plant non-prof- it high maintenance costs, and a development program using various grad of bertrandite ores at the companys Utah plant. shutdowns, The latter is to provide information to maximize economics of domestic ore use. The company said production levels in the fourth quarter will be much higher and are expected to result in satisfactory earnings for mid-wester- the quarter. The company also reported a contract for beryllium brakes on the S3A, the Navys new started. If you feel that such an organization is needed and you would be willing to give it not only your moral support, but also your financial support through small dues which would be used for the betterment of the individual prospector, and not paid out in salaries there is really no need of any salaries, with the at the possible exception of a secretary-receptionistate headquarters. So, it's up to all you prospectors out there, if you feel that such a "union" can do you any good, write us and give us your ideas, so that we can tailor the organization to your needs. Contact: Ed Welch, Box 2244, Salt Lake City, Utah 841 10. antisubmarine aircraft. Brush the beryllium for the supplied two previous aircraft using the Air. Forces C5, the worlds largest aircraft, and the F14, a new Navv beryllium brakes st Fighter plane. WODCO announces acquisition of 45 Missouri oil wells, facilities formation resulting in a higher percentage recovery of the oil in place, when compared to a water flooding operation. Madsen said the leases are still in that the essentiall virgin primary and secondary reserves are intact. No substantial production was achieved by the Americana Corporation or its 93939393333 3 3 3T successors prior to the time the property was acquired by WODCO, he said. Well, He said although WODCO has not purchased all of the production equipment on the site, the owners are leaving the unpurchased equipment in place for the use of WODCO and have granted WODCO the first right to purchase same. Notwithstanding apparent Subscriptions $10 Per Year 25 Cents a Copy Published weekly in Salt Lake City, Utah by Charles E. Hayward of 1243 E. 21st South, Salt Lake City, Utah 84105. Mailing address: P.O. Box 19243, Salt Lake City, Utah 84119. Serving the mining and oil industries of the Rocky Mountain Region. Articles and information herein are true and factual to the best knowledge of the publisher. Information and opinions published are the I sole responsibility of the publisher and do not reflect the attitudes or I opinions of the merchants, brokers, corporations and service firms who advertise herein or otherwise sponsor this publication. I Second Class Postage Paid at Salt Lake City, Utah Advertising Rates: Display Advertising Classified Advertising Phone editor & Publisher 487-076- 8 $2 col. inch $2 for 20 words or 467-966- 2 Chuck Hayward 4r3999999999399939J99999933933391JH9ITT difficulties experienced by others in developing their properties in this area, management is of the opinion that the Americana leases are promising properties, Madsen told shareholders. Based upon the examination of the properties and upon a review of the records and reports of prior owners, management believes that its proposed method of operation will result in substantial and economical of the recovery of oil. Twenty-si- x 45 wells recently were opened for inspection and to prepare for gas pressurization. Of the 26 wells opened, 24 had oil standini the wells. Eight of the wells began flowing oil when the casing head was removed. This indicates to management that bottom hole pressure is higher than anticipated and it will probably not require as much time as previously expected to pressure up the oU bearing formation, Madsen said. . the value of the family heirloom silver, the price of black and white photographic film, color television sets and other electronic equipment may all go up now that the U.S. has stopped its weekly silver bullion auctions. One thing is for certain, the price of silver on the market is certain to push upward. As we've noted in the past, the auctions have artificially depressed the price of silver. Now the U.S. has gone out of the silver market because it no longer has any silver. The U.S. stockpile is down to 25 million ounces- - - 22.5 million of which are earmarked for the Eisenhower silver dollar, if Congress approves it. In addition, there is a strategic stockpile of about 165 million ounces, part of which is not refined and some of which is mixed with gold. Part of the U.S. silver which has been auctioned in the past has come from melting down old coins, and War II stockpiles. Many private part from hoards of old silver coins have been built up across the country, but a private individual or concern cannot legally melt them down and sell them. Because of this and the economic downtown many speculators in the past, concluding that silver prices had reached their forseeable high, began unloading their coins. Silver currently sells for about $1.80 an ounce. After the Treasury cut off sales to private individuals in 1967, the price climbed from $1.29 to $2.80 an ounce, then settled back to its present level. Watch for another spectacular increase in the price of siver without the brakes previously applied by the sales. Treasury pre-Wor- ld |