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Show Jane 8. 19S6 WESTERN MINERAL $300,000 To Go Editorial Dont Miss Out area tends to loolt The stockholder located in a askance at the uranium industry when his holdings hit the down grade. He should take a second look on a wider scale before striking out to sell or turning down a good offer to buy. Mining development, particularly in uranium, in the western states is hitting a new peak. A look around shows exciting results. More than 40 companies are located in the famous Gas Hills area of Wyoming. Most of these companies are in the development stage with huge open pit operations like Lucky Me, Two States and Pat NBill mines proving the existence of valuable ore. In Crooks Gap and Pumpkin Buttes the story is similar. Spokane, Wash, is getting its share of strikes in the Mt. Spokane and Indian Reservation areas. Large and small firms are hitting the rich autunite uranium ore in the area. Ambrosia Lake is growing daily and more and more local firms are moving in to develop property. Another angle, which proves advantageous to todays stockholder is the new push of uranium companies into oil and vice versus. A wider diversification of property and interests gives the stockholder a better chance to see a return on his monies. The wise stockbuyer doesnt let the soft market fool him. Best look around, get the overall picture of the industry before deciding that uranium, or any phase of mining is on the way out. soft-mark- et Index Daley Mine Pushes Nevada Development At Spruce Mountain The overall development picture looks very promising, Charles S. Woodward, Salt Lake City, president of Index Daley Mines Corp. said this week. Index Daley is now at the 300 foot level In a proposed 2,000 foot development of Old Bulls Head Mine at Spruce Mountain, Nevada. The company also acquired six claims adjacent to Bulls Head property from Eugene Parker. Woodward said the copper vein from the Index Daley property extends into the Parker land. The mine was a heavy producer of lead-golcopper and silver between 1870 to 1934, when more than 7,000 mining people inhabited the Spruce mountain area. Index Daley shipped $1,035,000 r ore from their properties in 1919-2Woodward said. The present operations at the d, lead-silve- 9, Bulls Head are being conducted in virgin territory, President Woodward notes. A survey taken last week shows that the tunnel now being driven will cross seven major fissures varying from 20 to 25 feet wide. Index Daley is now spending $2500 per month minimum. This amount, or more, will be put into the mine for the next few months. Woodward .reports. .Modernized equipment including electrified trammers are extending the 8x8 foot tunnel. Blue Lizard Debentures Pay Mine Levy No.firstOnein then successful . Monday. An additional $300,000 must be paid to sellers by Sept. 1 to complete the mine and property purchase. The mine is located in Red Canyon, San Juan county, Utah. Mine and property is being sold by Preston W. Redd, currently President of Blue Lizard Mines , Robert Redd, J. Wiley edd a Len W. Adams and the Red Canyn Mines. The temporary suspension of Mayday Uranium Co. on Regula-- 1 tion A exemption from registra-- 1 tion is in regard to a stock offer- ing made in 1953, according to Ben Conford, president of the initiated a The newly organized firm. new operating, agreement for the The SEC action has not stopped Blue Lizard Mine was.also agreed signed at the Monday stock trading or the current de- - Wn velopment program of the com-- 1 meeting, Badger reports. s He said Conford reports IW,action company-- new 0per-th- e taken by the SEC is agreement, Badger notes, it due to actions of the company Lating the oficers intention to push prior to the planned program ahead to inConford also states that the crease mining operations at the company is now getting all finan- mine and to purchase additional cial and bookwork up to date, equipment. and is continuing to develop minMonthly tonnage shipped to ing properties in Wyoming and AEC buying station is also on the Utah. increase to exce'ed the 1,000 tons now approved by the AEC. I Right now the circulation oi the WESTERN MINERAL SURVEY is keeping pace with the uranium industry in general booming! Keep posted on latest news and quotations by reading the WESTERN MINERAL SURVEY regularly . . . every week. SUBSCRIBE NOW! I year $3.00 2 years $5.00 Circulation Departments 421 Church St. - P.0. Box 2608 Salt Lake City, Utah NAME ADDRESS CITY Remittance STATE. Bill me latex - CIRCULATION Phone DC Street 21 Church tising ratee on application. HABBT PubUaher B. MILLER Editor oatt. p. CRITCHLOW L. M. ym- Contributing Editor ah news ippeartar 1b the Western Mineral Surrey la obtained from aonrere believed to be reliable bat no reoponslbU-lt- y for accuracy of atatemeota. la Reproduction of any material from tbla publication muat bava written permiialon from the publisher. I i ad Arizona Reports On Copper Worker Wage The Arizona copper miner has enjoyed the largest weekly earnings of any worker in the U.S. This statement from the new Arizona Department of Mineral Resources is backed by tables, charts and figures on the Arizona copper worker. busiLake Salt Garff, Wayne His annual wage (not includness man and construction coming fringe benefits) averaged pany executive, was elected to $5,750 for the year 1955, the reserve on the Board of Directors. port states. I ufAcribe Who J)Ah t? . . . HEWS nui tt Terre Haute, Ind., Ground breaking ceremonies were held Wednesday at the plantsite of the operation eventually will American Brass Cos integrated aluminum mill in Terre Haute require a working force of 1,000 The American Brass Company, people. The production at Terre will include casting of with general headquarters in Haute aluminum ingots and billets, roll- Waterbury, Conn., is a wholly ing of sheet and strip, and ext- owned subsidiary of the Anaconda rusion of rods and special tubes, Co. The Terre Haute fabricating shapes. facility is a logical extension of Our forecast of future business Anacondas entry into the alum- trends, predicted Coe, is sym- inum field, John A. Coe, Pres- bolized in the construction of this ident said. Anaconda Aluminum new fabricating plant. Cos aluminum reduction plant1 at Columbia Fall, Mont., was Our survey has led to conclude brought on line in August, 1955. that Terre Haute, Indiana, is a The Montana plant has an annual good place to build. The market capacity of 60,000 tons of ingot we will serve are close at hand. aluminum, and it will be a source Our customers. . . and this community. . . will share the benefits of this, our symbol of faith in the future. Mr. Coe continued, In Horn! our study of business conditions we can attempt to look ahead, to estimate (if we can) what the Activities? 11 LOMtAINI ADVERTISING phase Blue Lizard Mines completed a S3X Box 2608 finance plan for purchase of the Blue Lizard mine June wi Lake City, Utah Salt the sale of Debentures, payment of $100,000 raised through Entered ae aecond daaa matter at Salt Briant Badger, chairman of the board reports. t..v city, Utah, under Act of March 3, Ackerson-HackeInvestment 1879. George Hackett, president of Subscription ratee: $5:00 tor tvo yean; underwriters for the company, presented the check to- $3.00 tor one year. Donald T. Adams, attorney repmention Weatcra Mineral Surresenting the sellers, in Salt Lake veyFleaae when writlnr to advertleen. Adver- Anaconda Breaks Ground For Aluminum Plant Interested In Uranium SURVEY consumer is going to need. We have seen the consumption of copper products more than double in less than 20 years. Annual output of steel is nearly three times what it was prior to World War 2. Aluminum output has more than doubled In the postwar years. Today, the consumer - - and we must Include world as well as domestic markets - - is actively standard seeking an even-highe- r of living. To keep abreast of the constantly rising demand for goods and services, industry has made qpd is continuing to make huge capital outlays for new plants and equipment. The Anaconda Company, of which we are a subsidiary, has spent $384 million in the last 10 years, and our program Is only half complete. Mines have been brought into production; smelting and refineries expanded and improved; fabricating facilities modernized to process the increased flow of metal to the consumer. The company has already entered the primary aluminum industry with its new plant In Montana, and is now taking the next logical step in the aluminum The report, entitled Wage StaMoney for the first payment d con-saitistics and Copper Output in Ariwas raised through a unique zona Copper Mines, also shows vertible debenture program, that pounds of copper produced de- cleared through the SEC. The Ventures, selling for $100 each, into common convertible soc f company at any time on or before May 1, 1959. r per during the 1947-46.30 per cent. increased has period A copy of the report can be obtained from the Arizona Department of Mineral Resources, Mineral Building, Fairgrounds, Phoenix. 9 man-hou- . WE HAVE About 20,000 acres of Mineral Properties in the Colorado Plateau area of Utah and about 2400 acres oi Copper and Uranium prospects in Quebec and Ontario, Canada. We are looking for a company or private capital to develop these claims. If interested con- NEW low-pric- ed loader tact DAGGETT SECURITIES, INC. 45 Halsey St. Newark, New Jersey Telephone: White Hall or MArket 10 yd. power bucket 36.5 hp gasoline engine 8'2 dumping clearance crawler traction and flotation Turns with full power on BOTH tracks 16" ground clearance Weighs only 6670 lbs. Optional scarifier, hitch, winch Vi-c- I IN DEFENSE OF u. All-weat- her THE TRUTH Uranium Market . Research rear-mount- ed int Issue No. 15 is out Call us for details Ask for your free copy today: UMR, Box 45, Saif Lake City, Utah MACHINERY CENTER, INC. U01 South 6th West Phone IID 01 |