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Show The National Enterprise , July 14, 1976 Page two Polaris Views Development with Caution DENVER There are a lot of winners and as many losers in the mineral development business, and shareholders of Polaris Resources (OTC .42, .46) are betting that R. A. Dutch Hildebranch, president of the company will be a winner. Thats the way it is, because Polaris Resources is n comessentially a pany, and Hildebrand is that man. The shareholders are one-ma- counting on Hildebrand to find and put together good geologic prospects that can be turned, with the help of money from outside investors, into a profit. of the companys cash position, the development of its prospects has to be handled cautiously. The company wants more risk activities, according to Hildebrand, but the risk must be managed with the company But, because at the companys annual affort to lose. meeting in Lakew'ood, Colo., and it is making money. The philosophy apparBut, at this point, the ently is working because the company reported net income money is coming from the of $163,245, or 1.6 cents a companys coal royalties and share, on revenues of from its diversified operations. The mineral develop$923,935 during 1975, compared with net income of ment segment of the business $142,404, or 1.5 cents a share, still is operating at a loss. Polaris Resources owns on revenues of $464,225 the 50 percent of Eastern Devprevious year. The firms cash flow is elopment Corp., a firm that holds coal lands positive, he told shareholders in West Virginia. That firm leases the coal lands to Polaris investing no more than it can non-operati- ng Coal Co. Security Brokers, Dealers, Corporate Officials, Attorneys. hand for sweaty palms A helpiimg Juristics Securities Law Seminars help you avoid problems under securities regulations. They're education on tape to protect you and your clients. Complete, current, concise seminars covering the field of Securities Law, you learn at your leisure from experts. Listen and learn while you commute to the office, while you have lunch, in the evenings as you relax at home. said, activity has been lower in the first half of 1976, but recently has picked up and the firm is looking for a better year in 1976 than in 1975 The company doesnt get many large orders and tends to count its small and medium orders as steady business. The backlog in small and medium orders is higher than at any point in Terrametrics history, according to Howard B. Dutro, vice president and a director of Polaris Resources and president of Terrametrics. He added, Terrametrics is a small company by the nature of the products that it sells, but it is a world leader in those products. There is a coal mine on the land that once was active but no longer is in operation, Hildebrand explained. But, the company has negotiated a Other Interests contract with a group of investors under which the As for the prospects of investors will pay the company $1.4 million, in four annual Polaris Resources, the firm payments, with part of the participated last year in three payments in cash and part in dry holes and a discovery well and another well in Texas notes. Hildebrand said that the should be ready for testing The firm has a 10 mine could be in production soon. next year, and, when coal is percent interest in the well. It also has a partnership being produced, Polaris Resources will get a 4 percent arrangement with Van Eck royalty on the gross revenues Management Corp., the firm of Interon the first six million tons of management national Investors Inc., a coal mines. mutual fund based in New York that specializes in inManufacturing is Profitable vestments in gold. A backlog of some five The other profitable operations of Polaris Re- properties are being investisources, he continued, are its gated by the partnership with manufacturing companies, Van Eck providing the monbji fc) Anchor Tool Co., a 50 percent If Polaris Resources can put an" attractive package together, owned subsidiary, and the Inc., an 80 percent profits will be shared 50-5owned subsidiary. The firm also has a Anchor Tool has a license to manufacture and lease high uranium venture with Geotechnology industrial tools surveys Inc. of Colorado from Germany and Belgium. Springs, Colo. The venture The primary tools in the line has purchased 10,000 acres of are overburden drills, used in prospective uranium properstrip mining operations, and ties near Delta, Utah, which shoring excavation equipment have produced some 300 used in underground mines. pounds of yellow cake in the Terrametrics makes past. The prospect is set in instruments that measure stress in large formations, volcanic rock, a new uranium such as mines, buildings and formation for this country but a producer in Australia and dams. In this line, Hildebrand continued on page twelve Ter-rametri- cs 0. . 12 Cassette Seminars in handsome album with compendium the small investment of only $1 00.00. Any one of the 1 2 sessions could save you many times its modest cost. All for NATIONAL JURISTICS Send for your Juristics Securities Law Seminars now. Subscriptions $24.00 per year 533-055- Second Class Postage Paid n Salt Lake Gty, Utah P.O. Box 11126 San Francisco, California 941 01 R. Please send me the Juristics 1 2 Cassette Seminar on Securities Law. My check for $1 00.00 is enclosed. Atone E. Bentley Editor Ryen B. Poulton Business Manager Street Address State City Bankamericard Account Number r. 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