OCR Text |
Show December 30. 195S The Weitem Mlnenl Surrey, Sail Lake City, Utah Research Bldg. Opens DU Stocks to Watch Consolidated Eureka Mining foot at $1.35 is a speculation building geared and equipped to exchange more on development than match Rocky Mountain technical )ased else. know-hoAlthough it may and research with the anything not soar to fantastic heights it of the region, phenomenal growth was this dedicated by the Univer- has a better chance of substantial imsity of Denver Research Insti- improvement on the basis of than portant values, anything tute. else in sight. Over a period of The building, to be known as months, specialists feel it could Conrad Hall, is located at 2340 reach $2. Production is good, the So. Gaylord. The name memorial- grade of ores is good and the izes D. R. Prolf. Ralph Conrad, incline they have is approaching founder of the research institute a critical stage as to possible dein 1946, who lost his life in a velopment of future results. Chances of success are good. If boating accident in 1947. it makes ore it could be a $2 From one or two research un- stock. The lead is of high grade temdertakings in a war-bui- lt and fairly good values prevail orporary building, the research in gold and silver: Lead values ganization has grown until it often go to high content. It is now Is the largest in the Rocky $120 a ton net from smeltMountain West, conducting al- really er. The company has 4,018,633 most two million dollars annual- shares of stock, about 50 per ly in sponsored research in a cent owned by the Hogle interwide variety of fields. ests. Rico Argentine owns 500,-00- 0 shares. ribbon-cuttinOn hand for the ceremonies were the Universitys Board of Trustees, D. Unofficial Producers Uranium Corp., is and newsmen, who, for the first technical still of an saw reasonably valued at .02 time, array cents. research The company has about and process machinery in that are pioneering study $210,000 to $212,000 in the treas-ury atomic energy, radiation, plus good management. At analysis, communications, radar, .02 cents it is selling for cash. data processing, product develop- G. W. Anderson, seasoned oil ment, food chemistry and others. man is president. Jack Blankenship is vice president. Producers Shown In actual operations has 20,000 acres of oil and gas will be five brand new labora- leases in San Juan County and tories among which are an isotope some oil deals in the Denver-Julesbur- g tracer lab, lnfa-re- d lab., computer oil basin in Colorado. analysis lab. The key The company plans to prospect in lab, machinery and men who will man the drilling of several wells, with it represent the new look" In a smaller interest in each, but no science with em- large Interest in any one in paratomio powered ticular. With a widely diversified on the phasis tomorrow. of world interest, officials think the chances are better for obtaining Recognized as already a pioneer in atomic energy research, production. the Institute this summer wll Producers is not drilling its host five hundred top industrial- uranium claims, all of which are ists in the nations first large in areas where winter weather scale study of the Colorado Pla- prevents further activity. teau problems as they apply to Officials say they are looking atomic energy, implication of the at other claims, and the possibilimmedatomic age and the steps and harness ity of mergers and have even iately necessary to utilize this awesome power for speculated on purchasing one group of new claims, or arrang-- ' peace. Co. stock on the Salt Lake stock A w g Elk Ridge, Federal Join In 314 to 1 Ratio Merger year-aroun-d Denver-Julesbur- g y, x-ra- x-ra- mid-centu- fire Federal Uranium Corp. will ac- Federal in the transaction. A new quire all properties of Elk Ridge road has been completed into ing a joint venture drilling ar- Mining Co. under terms of a the area and it is expected that rangement. First drilling in the proposed merger announced tooperation of the basin is expect- day. mine will be possible. ed to start in 1956, The company Across the canyon from the the proposal, Elk Ridge Under has 11,000,000 shares. n would be acquired by Federal in Oakie Mine is the a merger transaction in exchange group of 10 claims owned by Elk English Oil Co. at 80 cents a for, Federal stock, according to Ridge. This group of claims has share, has good properties, good W. D. Nebeker, Jr., Federal pres- been drilled and a channel of management and ample finances. ident. The plan has been approv- ore defined. Development work is The company is testing one well ed by the boards of directors of proceeding by means of a tunnel. in Colorado which showed quite both firms. stockholdof an amount of oil. English also has Federal Uranium Corp. engiSeparate meetings oil properties in Utah, Wyoming ers will be held on Jan. 16 in neers say that other claims and Montana, many of them on Salt Lake City to act on the pro- owned by Elk Ridge are favorthe route of the Pacific North- posal. ably situated geologically within The stock exchange will be on a west Pipe Line. Company offiradium in the same cials emphasizing the value of a ratio of 3 shares of Elk Ridge general area as the Oakie and Mines. good management commented: for one share of Federal. Feder- the Elk Ridge owns all properties One can give a million dollars al would issue approximately to a dummy and get rid of all of 357,000 shares of stock for ac- outright, with no royalties outit, but, if a company employs quisition of Elk Ridge .This will standing. We feel we are making an a manager with good business increase Federals outstanding cent. seven stock about per important major acquisition, by judgment, his chances are excelIn addition to acquiring all Nebeker said. In this transaclent of building a company into properties of Elk Ridge Uranium tion, we will obtain two producsomething substantial. Co. Federal will receive cash of ing mines and other properties more than $160,000 from the Elk of exceptional potential. Ridge treasury. Elk Ridge is a producing uranium firm with properties in the Elk Ridge area of San Juan Coun- By O. D. QUINLAN Survey Denver Bureau Page ry . Imperial Moves to New Property Uope-Lyma- 20-mi- le Hope-Lyma- n Atomic Energy Group to Meet in Denver Jones Moves Up in Colorado AEC Office . ty, Utah. Federal Uranium Corp. engineers and geologists, who made DENVER The joint CongresThe Atomic Energy Commisextensive examination of Elk sional committee on atomic ension has appointed Allan E. the propproperties, say ergy will hold its first meeting Ridge suberties at include two least Jones, to the manager post of the of 1956 on Jan. 10 and 11, acore stantial bodies and other Grand Junction operations office cording to P. I.s Uranium Into succeed Sheldon P. Wimpfen. of claims. formation, Denver technical news promising groups Jones, now deputy manager, service to the uranium industry. tiesEngineers estimate the properhave minimum reserves of will move into the position on Certain of consideration early more than 30,000 tons, with in- Feb. 1. The Grand Junction office has next year is the question of how ferred reserves of 90,000 tons. Elk The been numRidge properties, responsible for the managethe government ore baying pro43 ment claims 10 of the AECs uranium exin groups, gram shall be continued beyond bering include the Oakie ploration, ore purchasing and ore the present expiration date of about 25 miles west of Mine, processing programs in the ColoMarch, 1962. Present Utah. owners rado Plateau area. Blanding, have 500 Jones joined the AEC staff in completed more than The committee has already feet of been unofficially told that the underground development April, 1952. Wimpfen resigned work. the managerial job to accept vice will be recommended program This mine is equipped with presidency of the Glen Alden for continuation by AEC. AEC Pa. He will spokesmen have denied that any machinery, several mining build- Corp., Wilkes-Barrofficial action has been taken, ings, supplies, and other equip- continue with the commission as and say that details on the pro- ment, all of which will go to a consultant. gram beyond 1962 have not been BEST WISHES FOR A PROSPEROUS NEW YEAR reached. well-know- n e, INVEST WISELY WITH A Since this is the case, the meeting early in January, and later committee hearings to be held in February are of much interest to the industry. GAMMO METER Questions remaining to be answered include government ore by Imperial. Ore was obtained prices and whether ore or confrom surface or pit mining and centrates will be bought. ran an average of .43 per cent. Senator Anderson of New Mexarea is of the ico said publicly some time ago Exploration announcement of AEC plans that planned by Dr. Bronson String-hacome as early as possible. should geologist, prior to further The Imperial Uranium Corp., has moved its drills and mining machinery into the Salvation group of claims, north of Cainesville s south of the Delta and mine, it was told today by Imperial Courtney Campbell, said the who January meeting will be the program mining activity. president, first for the committee since his is progressing. The Hunt Oil Co., of Texas, statement. The company has a group of according to the geologist, has 50 claims in Red Canyon near four claims adjoining Imperials, Hite, where drilling was under has drilled the area extensively, way until early November, when and has uncovered a good ore operations were shifted to the body. Hunt drilled a 150 foot Salvation claims. Imperial owns drift and are emerging into proNEW - USED MOBILE HOMES 33 claims in the Salvation group. duction at the present time, the GLEN C. BILLS & SONS The original owners of these geologist indicated. Dr. String-haclaims visits the Imperial 1901 Sonth Main HU claim shipped a considerable amount of ore prior to acquisition each week. two-mile- m 51 Be Well Informed take this opportunity to wish all my friends the Best of Everything May I GET THE FACTS! JUST CLIP OCT AND MAIL The Coupon Below for Our FREE MONTHLY BULLETIN on THE LATEST DEVELOPMENT IN THE MINING or OIL INDUSTRY nr Visit Our New Office at VALLEY STATE BBOXEBAGE Incorporated Suite tSN Booth State - Salt Lake Phone HU BOO Booth 5th St. BUf. 10S-- During 1956 Ph. EL Name Address City Bulletin Bes HU 18 and Communication Engineering U City BU-7- S Please Send Monthly KITT0 TELEVISION . Las Venae, Nevada TWK 18 DOC to: DOC K1TT0 Manager 255 East 2nd South Salt Lake City See Ad Phone Book Page 311 Model 101 $149.50 (Dimensions 5x5x7 Ins.) The newest, most sensitive, and sturdiest counter for discovering radioactivity. Every model absolutely guaranteed to out perform any other counter of equal price. Prospect from auto or airplane. Over 1000 now in use. Other models at $239, $495, and $795. Dealer inquiries invited. SALES RENTALS 6AMM0METER SERVICE ON ALL MAKES TRADES ALLOWED ATOMIC ELECTRONIC ASSOCIATES 45 East Broadway EM 79 |