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Show The National Enterprise, April 28, 1976 Page Nine Mining Highlights continued from page Two ounces of silver per ton vs. 39 ounces in the previous year. Sunshine Consolidated-T- he Adjoining property owner also enjoyed a substantial earnings increase last year, realizing net income of $132,683 or 5 cents a share vs. $29,914 or 1 cent a share in 1974. The amounts include Sun Cons 70 percent equity in Big Creek Apex. Sunshines production from Sun Con ground totaled 6,318 tons of ore mined n drifting 986 feet westerly along the Yankee Girl vein on level. The drift the 3700-fowas in ore for 267 feet for a total of 369 feet of ore opened so far on that level. Sun Con's 50 percent share of ore 'reseres ot were estimated at tons. Sun Con also ownership of 23,070 ore reserves in the Girl veins S area. 102,680 claims tons of Yankee income Clayton Silver-N- et for 1975 was $255,044 or 9 cents a share vs. $704,140 or 23 cents a share a year earlier. Lower metal prices and higher costs cut operating profit to $65,593 from $177,357. Gain from sale of investments and silver contracts declined to $154,333 from $526,000. Ore reserves total nearly 190,000 tons sufficient for two more years of capacity operations, and current work below the 800 level is expected to substantially increase ore and some quarters predict a uranium shortage and prices. A sale of $40 million worth of uranium for future delivery may be announced by the company shortly. Midnite shares sold at a record $8.00 on the Spokane market this week. Gladstone Resources has reserves. Cash on hand just completed its most .sucamounted to $684,000 and cessful year with record oil current assets totaled $1.6 and gas revenues and has million or around 53 cents a elected Ted Brooks Jr., a share. successful oil and gas production expert from Texas as its Atlas Mining-Noran- da Mining Company continues its chairman. work at this property which Day Maines this year will adjoins Lucky Friday on the start getting back the $1.49 south. Crews are driving a 7 million it has contributed to by 9 foot crosscut 10 feet a day putting the new Coeur Mine and are expected to be in their into production. projected target area some time in August. still-high- er shaft-sinkin- g Midnite Mines-Earni- ngs in the last nine months of 1975 jumped more than 400 percent Ladd Schedules Shareholders Meeting to $2.55 million from $636,000 in the comparable 1974 period The annual stockholders or to 62 cents a share from 15 cents. The uranium oxide it meeting of Ladd Enterprises, will be held on May 7. produces has shot up to $38 a Inc., 10:00 a.m., at the pound from $8 in 14 months 1976, at corporations principal office, 70 Linden Street, Suite 6, Reno, Nevada 89502. Gammill Talks Stocks President .Innovative Money M gt. & Analysis Research Director Pittman & Co. Our dramatic growth the past two years is the result of two events. In 1974, wc acquired Dixie Insulation of Houston, Texas, and changed our business to insulation of oil refining and storage facilities. In 1975, we broadened our services through insulation of liquid ammonia fertilizer storage tanks and plants. Our experience in insulating ammonia facilities places us in a favorable position to take advantage of the increased world production of liquid ammonia. At the same time, we continue to assist the petroleum industry in its effort to increase oil and gas production. We have dedicated ourselves to making DiEnco the foremost petroleum and fertilizer facility insulation company in the nation. Audit Chances IRS expects to audit 2,420,000 tax returns this year. Sounds like a lot, but it's less than one in 35. Four out of The Dow Jones Industrial Average (DJIA) has advanced from five of the audits are expected the 570 level in December of 1974 to approximately 1020 in to additional produce March of 1976. Despite this hearty move in primary stocks, many secondary' and third tier securities have yet to overcome their supressed levels. As the investors interest shifts, The advancement in these areas should take hold. (OTC) market is expected to begin reacting favorably after a major consolidation period in the Dow 30s, investors arc still acquiring primary issues with high hopes in over-the-count- m SALT LAKE HOUSTON er 0 their appreciation potential during the last percent increase in the DJIA. To those, I have a word of caution. The DJIA has already increased approximately 79 percent in the past 16 months. There is a strong possibility that any major profit taking could effect these stocks to a greater degree initially than these securities in the lower two tiers. My opinion is one of increasing optimism for the OTC securities. The market has not had a speculative climax since 1968 and barring a near term reversal in interest rates andor a return to double digit inflation, this could be the next real OTC Bull market since that time. The major oil companies have been attacked from all sides. This unfavorable industry attention has hurt many small oil companies as well. Doing so, the investor has seemingly given no consideration to each companies individual industry position. I believe, some of these companies whose depressed security prices are based upon this general stigmatism should be brought to the eyes of those investors whose portfolio investment demands one or more above average 10-2- Do You Care to Associate with: risk-rewa- rd vehicles. The following briefs are on companies whose technical and fundamental positions show some interesting opportunities. Beaver Mesa Exploration (OTC $.70 bid), is an energy exploration company who completed 27 of the 32 wells in which they participated. The specific well results were as follows: 16 oil producing, 1 1 gas producing, 4 dry holes and 1 junked hole. The company's daily net production was in excess of 850 bbls of crude oil and 2.8 million cuft of gas on December 31, 1975. Positive financial trends as of Beavers year end August 31, 1975 include: Assets up 62 percent from 1974; Earnings per share increased 40 percent from 1974; Return on equity was a plus 63 percent for 1975 compared to a 1974 return of plus 72 percent. Inc. (OTC $.50 bid) is another energy exploration company. Its joint venture with Husky Oil alone consists of 240,000 net acres of producing, undeveloped, oil and gas leases, geothermal and mining properties. These and a number of other prospects include some promising lease area. holdings in the over-thruThe 1975 crude production figures averaged approximately 230 bbls per day. As of December 31, 1975, the company and its Exploration) had wholly owned subsidiary (Burton-Hawk- s proven reserves of an estimated 489,947 bbls. The company total assets arc in excess of $1,000,000. Burton-Hawk- s, st Then subscribe to The Alternative. 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