California Mining Journal (PH 16-14)(April 1943) (36 pages)

California Mining Journal, April, 1943 _ ELeven Homestake Has 15-Yr. Gold Ore Reserve -19,000,000 Tons , OMESTAKE MINING CO. milled a total of 1,275,138 tons of ore during 1942 for an average recovery of $13.39 per ton, against 1,499,988 tons of $13.12 average recovery in 1941, ; ¢ Fifteen Years’ Reserves Developed ore reserves at the year end, according to G. N. Bjorge, general manager, totaled 18,183,683 tons, equivalent to approximately 15 years’ supply on basis of 1942 production. At the end of 1941, reserves were stated at 19,393,300 tons. Bjorge said that the recent modifications of the WPB order suspending mining operations will permit the company to mill all broken ore until June 8, next. He estimated that the company would mill approximately 1,000 tons of ore daily between now and June 8. Options California Manganese By that time Homestake will have swung fully into the groove, mining strategics. The company has taken option on a manganese property in Lower California and plans for erecting a mill are under consideration. Other contributions to the war effort include development and operation of a deposit in Wyoming containing a strategic mineral. However, only nominal profits at best can be expected from these operations, Bjorge stated. Gold Ban Cut Earnings 22% : The company reported for 1942 net profit of $4,416,322 after all charges including $2,. 564,606 for depletion, equal to $2.20 a share, ‘compared with $5,682,999 (after $2,932,878 _for depletion), or $2.83 a share in 1941, a = drop of approximately 22% in net profit from 1941. Year-end balance sheet shows a total of $16,223,921 in cash, government securities and tax notes as against $15,446,448 on December 31, 1941. Atlas Powder Co. reported for 1942 net profit of $1,855,669 equal to $5.89 per c. sh. compared to $1,904,601 or $6.13 per sh, in 1941. Freeport Sulphur Co. had net profit for 1942 of $2,436,655 or $3.05 per c. sh. the figures including the company’s share of the net income of Cuban-American Manganese Corp. Net profit for 1941 was $657,862. Monsanto Chemical Co. reported for 1942 net profit of $5,515,836, equal to $3.75 per c. sh., compared to $6,769,435 or $4.90 per c. sh. in 1941. Underground and Surface Machine DRILLING Immediately Available for Strategic and War Mineral Exploration DIVIDEND RECORD Company Time Amount Date Superior Cem Co pfd Reg. $ 8214 Apr. 1 Calaveras Cem Co pfd Reg. 15 Mar. 15 Tom Bell Royalty Irreg. 01 Mar, 1 Yosemite Cement Quar. 10 Apr. 1 Cooper Bessemer pfd Reg. 75 Apr. 1 Cooper Bessemer c Reg. 50 May 6 Anaconda Copper Quar. 25 Mar. 23 Sloss Sheffield Steel Quar. 1.50 Mar. 22 Union Crb & Crbn Quar. 15 Apr. 1 Calumet & Hecla Quar. 25 Mar. 16 Lone Star Cement Quar. 15 Mar. 31 Hercules Powder Quar. 50 Mar. 25 Int'l Salt Quar. 50 Apr. 1 Climax Molybdm 1st Quar. 30 Mar, 31 Climax Molybdm Extra .20 Mar. 31 U. S. Gypsum Co. Quar. 1.75 Apr. 1 Shattuck Denn Reg. 12% Mar.10 Hecla Mining Co. Quar. .25 Mar. 15 Magma Copper Co. Quar. 50 Mar. 15 Newmont Mining Crp Reg. 374% Mar. 15 Federal M&Sm Co. Quar. 1.00 Mar. 19 Greene Cananea Crp Quar. 50 Mar. 20 Inspiration Copper Quar. .25 Mar. 23 Andes Copper Quar. .25 Mar. 23 Kennecott Copper Quar. 50 Mar. 31 Sunshine Mining Co. Reg. 15 Mar. 31 Molybd. of America Quar. 12% Apr. 1 Columbian Carbon Co. had for 1942 consolidated net profit of $3,132,659 or $5.83 per sh., against $3,529,159 or $6.57 per sh. in 1941. Revere Copper & Brass, Inc., reported for 1942 net profit of $1,749,374 equal to 86c per c. sh., compared to $4,066,616 or $2.64 per sh. in 1941. Vanadium Corp. of America reported for 1942 consolidated net profit of $542,094 or $1.33 per sh., against $1,231,752 or $3.03 per sh, in 1941. Monolith Cement Co. reports for 1942 net profit $189,716 after all charges, equal to $1.39 per sh. on the pfd. with dividends in arrears, compared to $235,022 or $1.46 per pfd. sh, in 1941. Climax Molybdenum Co. reported a netprofit of $13,390,433 or $5.31 per sh. in 1942, compared to $8,954,204 or $3.55 per sh, in 1941. Kennecott Copper Co. reports 1942 net profit of $48,821,000 or $4.51 per sh., against $49,251,857 or $4.55 per sh. in 1941. Homestake Mining Co. had $4,416,322 net income or $2.20 per sh. in 1942, compared to $5,682,999 or $2.83 per sh. in 1941. 779 Bryant St. @ MITCHELL DIAMOND DRILL CO. Phone YUkon 2375 SAN FRANCISCO . ——e Whiting Workmen's Compensation Insurance Exclusively @ INDUSTRIAL INDEMNITY EXCHANGE 416 West 8th Street LOS ANGELES 310 Sansome Street SAN FRANCISCO.

California Mining Journal, April, 1943 _ ELeven Homestake Has 15-Yr. Gold Ore Reserve -19,000,000 Tons , OMESTAKE MINING CO. milled a total of 1,275,138 tons of ore during 1942 for an average recovery of $13.39 per ton, against 1,499,988 tons of $13.12 average recovery in 1941, ; ¢ Fifteen Years’ Reserves Developed ore reserves at the year end, according to G. N. Bjorge, general manager, totaled 18,183,683 tons, equivalent to approximately 15 years’ supply on basis of 1942 production. At the end of 1941, reserves were stated at 19,393,300 tons. Bjorge said that the recent modifications of the WPB order suspending mining operations will permit the company to mill all broken ore until June 8, next. He estimated that the company would mill approximately 1,000 tons of ore daily between now and June 8. Options California Manganese By that time Homestake will have swung fully into the groove, mining strategics. The company has taken option on a manganese property in Lower California and plans for erecting a mill are under consideration. Other contributions to the war effort include development and operation of a deposit in Wyoming containing a strategic mineral. However, only nominal profits at best can be expected from these operations, Bjorge stated. Gold Ban Cut Earnings 22% : The company reported for 1942 net profit of $4,416,322 after all charges including $2,. 564,606 for depletion, equal to $2.20 a share, ‘compared with $5,682,999 (after $2,932,878 _for depletion), or $2.83 a share in 1941, a = drop of approximately 22% in net profit from 1941. Year-end balance sheet shows a total of $16,223,921 in cash, government securities and tax notes as against $15,446,448 on December 31, 1941. Atlas Powder Co. reported for 1942 net profit of $1,855,669 equal to $5.89 per c. sh. compared to $1,904,601 or $6.13 per sh, in 1941. Freeport Sulphur Co. had net profit for 1942 of $2,436,655 or $3.05 per c. sh. the figures including the company’s share of the net income of Cuban-American Manganese Corp. Net profit for 1941 was $657,862. Monsanto Chemical Co. reported for 1942 net profit of $5,515,836, equal to $3.75 per c. sh., compared to $6,769,435 or $4.90 per c. sh. in 1941. Underground and Surface Machine DRILLING Immediately Available for Strategic and War Mineral Exploration DIVIDEND RECORD Company Time Amount Date Superior Cem Co pfd Reg. $ 8214 Apr. 1 Calaveras Cem Co pfd Reg. 15 Mar. 15 Tom Bell Royalty Irreg. 01 Mar, 1 Yosemite Cement Quar. 10 Apr. 1 Cooper Bessemer pfd Reg. 75 Apr. 1

Cooper Bessemer c Reg. 50 May 6 Anaconda Copper Quar. 25 Mar. 23 Sloss Sheffield Steel Quar. 1.50 Mar. 22 Union Crb & Crbn Quar. 15 Apr. 1 Calumet & Hecla Quar. 25 Mar. 16 Lone Star Cement Quar. 15 Mar. 31 Hercules Powder Quar. 50 Mar. 25 Int'l Salt Quar. 50 Apr. 1 Climax Molybdm 1st Quar. 30 Mar, 31 Climax Molybdm Extra .20 Mar. 31 U. S. Gypsum Co. Quar. 1.75 Apr. 1 Shattuck Denn Reg. 12% Mar.10 Hecla Mining Co. Quar. .25 Mar. 15 Magma Copper Co. Quar. 50 Mar. 15 Newmont Mining Crp Reg. 374% Mar. 15 Federal M&Sm Co. Quar. 1.00 Mar. 19 Greene Cananea Crp Quar. 50 Mar. 20 Inspiration Copper Quar. .25 Mar. 23 Andes Copper Quar. .25 Mar. 23 Kennecott Copper Quar. 50 Mar. 31 Sunshine Mining Co. Reg. 15 Mar. 31 Molybd. of America Quar. 12% Apr. 1 Columbian Carbon Co. had for 1942 consolidated net profit of $3,132,659 or $5.83 per sh., against $3,529,159 or $6.57 per sh. in 1941. Revere Copper & Brass, Inc., reported for 1942 net profit of $1,749,374 equal to 86c per c. sh., compared to $4,066,616 or $2.64 per sh. in 1941. Vanadium Corp. of America reported for 1942 consolidated net profit of $542,094 or $1.33 per sh., against $1,231,752 or $3.03 per sh, in 1941. Monolith Cement Co. reports for 1942 net profit $189,716 after all charges, equal to $1.39 per sh. on the pfd. with dividends in arrears, compared to $235,022 or $1.46 per pfd. sh, in 1941. Climax Molybdenum Co. reported a netprofit of $13,390,433 or $5.31 per sh. in 1942, compared to $8,954,204 or $3.55 per sh, in 1941. Kennecott Copper Co. reports 1942 net profit of $48,821,000 or $4.51 per sh., against $49,251,857 or $4.55 per sh. in 1941. Homestake Mining Co. had $4,416,322 net income or $2.20 per sh. in 1942, compared to $5,682,999 or $2.83 per sh. in 1941. 779 Bryant St. @ MITCHELL DIAMOND DRILL CO. Phone YUkon 2375 SAN FRANCISCO . ——e Whiting Workmen's Compensation Insurance Exclusively @ INDUSTRIAL INDEMNITY EXCHANGE 416 West 8th Street LOS ANGELES 310 Sansome Street SAN FRANCISCO.