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Show ' CALUMENT 4 HECLA H GOOD FOR DECADES ' Calumet & Hecla should no longer K be considered a gradually declining j mining enterprise The company rep- 1 resents a great copper producing In- H: dustry. which bids fair to continue in profitable operation for generations, H' perhaps for hundreds of years to H "Hundreds of yeais" Is a long time, ' of course, but there is little doubt '- that the Lake Superior district will H be producing copper 200 years hence H; And, if it is. the production is as Ht likely to be coming from Calumet & 1 Hecla lands then as taken from any Hi other area. H A few years ago the Calumet & i iHecla company adopted an expansive f policy, first buying a cores of square j miles of land on and adjacent to the J mineral belt which traverses the Ke- Hj weenaw pennlnsular and then very H large holdings of the shares of sev'- H eral other companies which operate j In the same district By doing this H it became both a holding and a de- j velopment compajy and fortified Jt- H self against the possibility of eariv - extinction. H Much Ground Virgin. H Coincident with the production of 1 copper, which naturally will gradual- B ly exhaust the mines it Is now work- Hf lng, it will in the future explore Its H outlying lands and develop such de-' H posits of copper bearing rock of com- V mcrcial value as may be found. While H its production and earnings may be H expected to fluctuate considerably H over a long period, there is little pros- H pect that any of the children who are H born this year will live long enough B to see the company discontinue dhi- fl dend payments altogether. B Calumet & Hecla has numerous as- H Rets that could not be sold at present H for more than a few thousand dollars, Hj hut there Is a reasonable prospect H that in time they may come to have H a value running into tho teans of mll- f lions. I refer to its stamp mill tall- H Ings, its known lodes of low grade Hi, rock, the development possib'Mties of H; Its unprospected mineral area and its H managemental organization. Hi' In the early days- of Us operations, H thirty to forty-fire or fifty years ago. H- when the science of concentration was B in its infancy, Calumet & Hecla mined H and treated a very rich product, Its H rock then containing from Go to SO BBS pounds of copper per ton A great deal BBB of this went to waste and as a re- BBBB suit there "has accumulated In Torch BBBfl lake, where Its mills have always been BBBB. located, 40.000.000 tons or more of BBBB tailings that carry all the way from B 1 0to 25 pounds of copper to the ton BBS and average arouud H to 16 pounds BBBB Working Old Tailings. BBflj For several years past the manage- BBH ment has been conducting experi- m, ment; to ascertain whether or not it H would be profitable to retreat these Htl t-a flings, and It has been demonstrat- BBttl ed that at least 30 per cent of the J contained copper can be recovered, H, ay four and a half pounds per ton, BBH at a cost of 7 cents a pound. This BBH will result In a profit of 25 to 50 BBH , cents per ton of tailings treated, the BBI amount depending on the price of cop. BBB per. giving the whole 40,000,000 tons BBBV an ultimate recoverable value of $10,. BBVM 000,000 to $15,000,000 B The work of reclaiming the values BBBB in these tailings will be undertaken BBBB, immediately. A retreatment plant BBBB capable or handling 3000 tons daih Is BBB now being constructed. The knowl- BBBB edge gained by Its operation Is ex- BBB pected to enable the management to BBH; Increase- the recover' considerably BBH' beyond 30 por cont eventually, It is BBH, for this reason that the Initial ln- BBBB stallatton will have a capacity of onlv BBBB 1.000 000 tons a year. Walker's Cop- BBB. per Letter. |