Show UTAH UT AU COPPER HANDLES i ORES AT LOVER VER COST Fractional Increase of Copper Cost Caused by Treating Oxidized Ores PROVIDE TRANSPORTATION Remaining Difficulty in Reaching Reaching Reaching Reach Reach- ing Full Ful Capacity to Be Reined Remedied Copies of the second quarterly re report 11 ro- ro port of ot the Utah Uth Copper company advance figures from flom which were given yesterday r reached the Ct city from New York during the day Tho rho report re lC rc- rc ta port which Is signed b by C C. C M. M 1 MacNeill Mac- Mac Neill 11 president Spencer and aul D. D C. C executive under date o of November o 10 Is in full fun fullas fullas as folos follows follows- In accordance with wih the established established estah- estah J hel custom of ot the tho company we wo submit herewith a statement of oC operations operations opera opera- tons for Or the tho third quarter o of the I OOS OS comprising tho the months of or July I August and Sept September I Ten sections of ot the tho plant have ha c been running continuously for the tIme period and eleven sections for the mouths months of ofA A August and September tile the the eleventh section Iclon having bc been n started on August 1 1 The twelfth section will wi probably be started carl curly In November o thus putting the tho entire Garfield Garfeld plant Into Int commission but It I Is doubtful If It tho the plant w will be supplied with full ful ton ton- lago nase before January 1 1 For the qua quarter cl under di discussion the Uio gross production of or copper amounted to pounds an In Increase Increase increase In- In crease of ot slightly less cs than I pounds as compared with wIh the previous pre pro quarter The average cost per vel pound was cents on the net cop cop- JOi 1101 jor resulting after deduction of or Emel- Emel tor ter cr allowances this showing an In Increased increased increased in- in creased cost of or per tier pound as compared to the previous quarter TIme The stated cost per pound In Includes In- In eludes chIdes mining milling managerial general expenses of all 01 kinds trans trans- tans tans- CO costs tS smelting and all aU soiling Treated Ov Ox lUe l Ores Is The increase In cost per pound duo duoto to the tIme treatment during tho the months of ot Jul July and August of ot an ore containing a u very large percentage e of ot otIs its Is ts copper coppel contents In the form of ot oxidized ox- ox minerals on which only erent recoveries are aro made in the con- con The net profit for mining and ant mill mm millor fo for or the time quarter amounted to Additional Income from rents and other minor Items amounted to 4 54 Total amount for tor quarter These earnings arc based basel on 13 cent ent copper for the months of or July and August and 1 IS 13 1 1 1 1 for Cor the tho month of 01 oS September These figures are lower than the actual price received for copper sold during tho time quarter At Atthe the tho time or of of I the tha company com corn pany nn has no finished copper coppel on hand unsold Tho The tonn tonnage ge treated for the last lart quarter was In III excess of oS that covered by the tho previous report but the copper copper cop- cop per pier contents were lower as above e explained ex ex- ex- ex by reason of treating some seine low grade rado though profitable material coming from stripping As It is necessary in steam stem shovel l operations to mine and han handle lo this o oxidized material It is treated with wih tho ho other ores and a fair fall profit re re- re su suIts Is Operation Costs Reduced The Thc per ton co costs ts of operation for forthe forthe forthe the quarter were reduced S 3 1 2 1 p per percent r cent as compared ll to those applying for Cor or the tho previous quarter Stripping operations continued throughout tho the quarter at the time rate of nC C approximately yards of or capping per month equivalent to the the- stripping of oC about 08 of oC an acre per pel month or 2 21 l 1 acres for the time period of or three months As tho the stripping of or each aero ucro results in tho the uncovering oC or about tons of normal grade grado 01 ore It I will wi be lc seen that our stripping operations opera- opera lions tons arc are resulting in uncovering uncovering our ourore oro ore bodies tor fOI steam shovel sho mining at nt ata ata a 1 rate mate of or about five f e times as great ns as that which the ores aro are being used Inthe in inthe the reduction works During the quarter the underground underground under under- ground ore sent to the te mills mIls amount amounted d to 32 per pel cent edit and the steam shovel sho el ore to 68 per cent of ut the total Wo We havo have been considerably d de delayed delayed de- de laY d in reaching the ultimate tonnage tonnage tonnage ton ton- nage for Ole which the reduction works are arc designed 1 viz about tons per pel day mainly by rea reason on of ot transportation trans tran difficulties In lu moving ore orn orp promptly to tho the reduction plants plant Existing defects in tra transportation ar arrangements arrangements ar- ar a- a s will wi be permanently corrected corrected corrected cor cor- through steps now being taken by tho the directors to that end end |