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Show UTAH WOUDiUfO SHQl'JS . PROFITS OF $812,194 FOR 1917 This Wonderful Producer Is Better Known In Bingham as the Highland Boy Mine. . Utah Consolidated of Bingham has 200,000 to 300,000 tons of low-grade -copper in sight, according to a report issued by the eastern directors. This report for 1917 shows net profits of $812194, equal to $2.70 a share on 300,000 shares outstanding, against (6.41 a share in 1916. The report says In part: "There were mined 226,536 tons of copper ore and 58,247 tons of lead ore, which yielded 7,968jl65 pounds of copper. cop-per. 12.014.841 pounds of lead. 508,560 ounces of silver and 13,530 ounces of gold. "As compared with the previous year, the above figures show that tonnage ton-nage of copper ore mmec was decreased decreas-ed by about 37 per cent: lead ore by about 22 per cent, but with 13 per cent more exploration and development work necessary to maintain ore reserves re-serves around their former figure. "The large decrease in tonnage of cop;er ore mined was due to the fact that a curtailment o our shipments practically throughout the entire year was made necesHary by a continual coal shortage at the smelter. Under the high price of copper now prevailing, prevail-ing, certain portions of the oie bodies can be worked which under average conditions would have to be left in the ground as unprofitable. The tonnage of this class of ore placed ih sight during the year has been increased, but, on the other hand, the ore reserves re-serves available under average prices tor coppt-r Khow a reduction. Lead ore reserve! have also been reduced but exploration work now being carl rled on In this clans of ground looks more promising. "Ore reserves in sight in the mine .ire as follows: One hundred and forty-one forty-one thoiiHdiid toiiH of copper ore, averaging aver-aging 1.76 per cent copper; .05 minren Hilver, .05 ounces gold; 3I,"00 tons of lead ore, averaging 1 4.90 per cent lead, 4.0G ounces silver, .06 ounces gold, .61 per rent copper. "There are. in addition,"between two and three hundred thousand tons of low-grade coper ore that can be mined at a small profit under the present price of copper." |