Show United Park Gaining O After Copper 11 Strike Losses By Robert 11 II Woody Tribune Business Editor United Park City Mines Co lost more than a million dollars because of the cop per strike which cut off smelter outlets for its ore ores fa a 4 But it is now moving ahead in development of its w o 0 r kings New shaft development and other technological technological technological techno techno- logical efficiencies anticipate future p pro prod r o d in in- creases Its Resort Division Division Divi Divi- sion ion may well Mr Wood Woody move into the profit columns for the first fiat time In 1968 These were among highlights of a are report report re- re o port by James lames Ivers Jr president to the annual meeting Tuesday morning Shaft in Production Cost of maintaining the mine during the he down close was more than he lie said Revenue loss was estimated at atmore atmore atmore more than Almost all production is now coming out of the new Ontario No 6 shaft he said The shaft has to be sunk another feet he said to develop current stapes beyond production requirements The sand fill plant has to be improved to extend the hydraulic fill techniques to tomile tomine tomine mine mile operations beyond the shaft area he said While there has been drop in the price of lead the substantial increase in the price of silver has hs been sufficient to offset off set the effect he said Future company policy he said willbe will twill willbe be directed to further technological logical efficiencies and exploration and development development develop develop- ment of oC ores orl'S with higher silver ratios Promising Future Assuming adequate capital will be bo available there is little doubt that the mining operations of your company are capable of sustaining a very promising future for many years to come Resort Division lift ticket sales were up 20 percent during the season One half of the increase was the result of inauguration inauguration inauguration ration of night skiing cing Mr Ivers said the Resort Division might in 1968 reach a self sustaining self basis as far as flow cash balance is con eon Need Nerd out Stators rs He emphasized the success of the division division divi sion will ride on attracting state out skiers who would use the facilities durIng during during dur dur- ing the week days when valley vaney residents were at school and work He indicated that this will require competition against such winter resorts resorts re re- sorts as Aspen Vail Vall Sun Valley and Heavenly Valley and dozens of other 1 large western areas who are arc spending great sums to attract these same people He said that voter support of a more reasonable law controlling disposition of alcoholic beverages would give Park City the Ute opportunity of becoming one of the greats in the western ski world and a successful tourist mecca Stockholders approved a plan to inaugurate inaugurate gura te a pension program for all aU salaried All AU directors were reelected Officers will be elected at the next directors' directors meeting 4 |