Show MINING NEWS jesse james conflicting reports from many sources regarding the future of the uranium business continue to be published in many papers and mag abines which have many of the uranium miners and investors in a state of confusion to begin with there was never anything wrong with the uranium business it is just like any other metal mining bus iness only a little more hazardous due to the character of the ore de posits the main trouble was that so many of the feature writers for papers and magazines painted a picture of how easy it was to get rich over night in the uranium bus mess they picked out a few bals that made a good discovery and in their articles gave the im lm that all you had to do was go out and stake a few claims and start loading the ore on the truck and d haul ito itlo the mill and get a fat an check heck well this all sounded good but was far from the facts which so many are finding out many promotion deals were made with outrageous prices paid for cl aims amis most of which had no value except for sheep pasture in order to organize a stock company and sell stock to the public while the uranium boom fever was at a high point many ini investors estors have wound up with nice pretty stock certificates as their only dividends in their wh irl of the uranium boom the uranium mining business is now closing down what would make footing where sane deals are being made for exploration and d develop ment and there is a lot of good prop arties that warrant exploration and development most of the companies getting into the picture now have mining experience and with the cap ital to go ahead and develop the properties into producing mines the uranium mining business is now closing down that would make profitable profi tible mines if they were oper abed efficiently and on a smaller scale most of the uranium mining is going to have to be on a smaller sc ale to make it pay it is not the type of mining for large scale operations such as copper lead zinc and other metals while many are worrying as to what is going to happen to the uran ium aum and what other metals will take its place just remember that by 1962 at which time the govern ment me nt buying program is to end un less ess extended all the known reser res ves of the present uranium mines now low in operation will be min mined ed out if the rate of production is abelt ept up as it has been in the last two years more uranium will have to be found and it Is hard to find asman as mana have found out in the past two years yeats with the new uses being developed every day for uranium there is i go ing to be more demand for it the world over atomic powered ships of all kinds power plants and in the not too distant future railroad motors airplane engines and many other uses dreamed of today when private enterprise is turned loose wi th atomic power there is going to have a lot more uranium then is be ing mg mined today take a look at all the big companies making invest ments of millions of dollars in atom ic projects they know where they are going so don t sell uranium sh ort Kerr McGee oil industries nava 3 jo 0 uranium division plan to imm mediately edia tely start on expansion a of f their uranium mill at shiprock N M ace acc to air mr E C osborn general supervisor capacity of the mill will be increased 25 this mill process e es s most of the uranium ore prod produced on the navajo indian reservation as well as a good deal of high lime content ore purchased by the monti cello mill the four corner uranium corp san rafael reef area 15 miles west of green river is still very active several companies have drilling ex work and other others are block ing mg out ore about the only thing that has slow ed down the uranium business in th is area is the deer hunting and as most of the hunters have returned things are going full blast if the weather stays good there should not be much of a slow down this winter most of the work is now underground and the bad weather does not bender hender ore hauling and drilling operations it is reported that the united pr co ltd of grand june tion ion colo which is a patino bol ma ivia tin king connected property has started shipping ore to the vitro uranium corp salt lake city this property is s located 15 miles west of green river and adjoins the fo ur corner uranium corp prop erty the shaft on this property is feet deep and is being operated by bill cime cline which has a lease from UP U P co considerable ore has been blocked out the defense minerals explore tion administration regin al office in denver has approved loan to the UP co ltd for drill ing on the above described proper ty and work is too start immedi abely green river got a jolt last week as far as getting a mill located here in the near future the hidden asplen dor mining co signed a long term contract with vitro uranium corp which operates the mill in salt lake city for tons of ore per month from their mine formally pick mi ne on the muddy river south of here the hidden splendor is owned by the atlas corp which floyd odium controls and they have been figuring on building a mill he here r e in green river for some time in order for a mill to pay for it self they should have at least one half million tons of ore in reserve that can be mined on or before 1962 at which time the buying con tract expires this reserve can be developed and is being developed here in this district fast by other companies during exploration work it t take too long with as much ore now in reserves to get the minimum amount needed to get someone interested in building a mill here but as long as oper acors in this district sign contracts with mills mius in salt lake moab and ad other places there will not be any mill here another thing that dos ent help matters any Is the fact that there is no place for people to live in green river and ind conditions 1 are not being helped any by the high prices asked for building sites and city ordinances being passed that run the cost of construction up so new buildings cannot be fi ft danced moab grand junction price and other towns in this area are growing at the expense of green river |