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Show UTAH APEX GO. PAYDIVIDENDS The Utah Apex Mining company com-pany has posted a regular quarterly quar-terly dvidend of 25 cents a share and an extra dividend of the same amount, payable June 15 to stock of record May 31. The 50 cent a share disbursement disburse-ment totals $264,100 on the 528.200shares of stock outstanding outstand-ing and brings, total dividends paid by the company to $1,518,-575. $1,518,-575. The last dividend which was 25 cents a share was paid in November, 1920, No dividends were paid in 1919, disbursements disburse-ments having been stopped with the dividend of 25 cents a share in November 1918, due to Apex litigation starting between the Utah Apex and Utah Con. which was won by the Apex company gaining the5 biggest judgment for a mining apex suit ever recorded re-corded in Utah. The judgment and interest of $1,276,282 ; was paid a few weeks ago. ' 'ufyv. Settlement of the Apex' litlt gation opened the, big- Leadvfile ore bodies and lower levels of the mine for production to the Apex company and vigorous exploration ex-ploration work has been conducted conduct-ed on the lower levels. ; The-mine The-mine is producing to the 1800 level and drifts are now being run on the 2000 level to open the ore chutes at that depth. The company is reported to have available ore in sight 100,-000 100,-000 tons of shipping grade running run-ning from 12 to 14 per cent lead and 100,000 tons of milling grade running 6 to 8 per cent lead. The mine has a capacity for handling 1,000 tons a day. Remodel Re-model of the mill is nearly com-pleted com-pleted MdloperattSnsafe'Show ing exceptional results, the tailings tail-ings running about 2-10 of 1 per cent lead. Recovery is running from 95 to 97 per cent. The mill is handling about 350 tons of ore a day. ... Recently the company purchased the Quinn group of claims to the southeast of the main property which itself it-self covers approximately 300 acres. A shaft has been started start-ed on the Quinn group to explore a fissure which in shallow workings work-ings produced durings'the war period about $25,000 of good grade copper ore. Lead and copper ore bodies are expected to be opened at depth from one fissure. There is another fissure fis-sure traversing this group but little work has been done on it near the surface. ,r,Utah Apex financial position is very strong, besides a strong cash surplus the company has on hand $1,421,784 of marketable market-able securities. As is the case with most of the big Bingham mines the greater part of the dividend payment will go Boston. |
