The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-12-14
BIG MERGER is IN
PROSPEROUS SHAPE

The Goldfield Consolidated Mines COM
pany has issued a statement to stock
holders showing that the company owns
lao acres of ground as follows: Mohawk,
Y acres: Jumbo 90 acres: Red Top, is
acres, and Lasuna, % acres.
The company is a consolidation of the
above companies effected a few weeks
ago by the Wingfield- Nixon combination
The statement in part is as follows:
Careful estimates from sampling of ore
available, standing in leases and company
workings OF all four Mines" the CONSOLE
dated company says, show ore reserves
amounting to some 81, 10000 gross. not
counting the estimated production from
the leases on the Mohawk for their I'M
expired terms. Including the latter. the
total present reserves amount TO $l2.32S
000 gross assay value. This is exclusive
of the bodies of low grade ore. The pro-
duction of the Hayes Monnette lease has
been made from about One-haf acre of
superficial territory, the Franc es-MOhawk
from about the same area. and Judging
from Developments on the Combination
Fra ton and in the Mohawk company
shaft on the continuation of the same ore
bodies. we can estimate a superficial area
Of about three acres under which ere
bodies of equal richness should be found.
In addition To this, the dip of the vein
is much sleeper in lower levels, there
Gore the tonnage from the same superb
cial area would be much greater.
Consequently, in addition to the actual
re serves above stated, there is a great
tract of ground in which estimates may
be made by taking as a basis the value
Of ere already mined, continuity of devei-
oped ore shoots. the fact that lower lev
els are the best. and the wide area over
which ore has been found. This estimate
of prospective ore is nearly certain; in
fact. the examining engineer considers the
following an underestimate. and the de-
Vciopments of shoots known at present,
without the discovery of new ore shoots,
will put in sight much more than stated.
The total value of ore produced. in tran
sit and developed is a little over 100000,
and prospective ore should exceed a du
TiiCation of this figure by at least 5000
COO. giving a future production from now
known ore shoots of at least $30.000,000,
gross assay value. with a reasonable OK
pectation of an immensely larger amount
even in the three acres referred to without
mentioning the remaining Indeveloped
territory of the four companies.
The cash treasury statement of NOVem-
her % saws i'm part: with royalties re-
ceived and receivable of over S1.000O00
from one claim for period of about three
and one-haif months. and estimated roy
alties for balance Of the terms Of the
principal leases of $500, 900 more, the net
receipts from these sources ana from
ores shipped and mined on account of the
several companies should allow the cree
ton Of necessary equipment the pTOSeCu-
ton of the projected development. the
Ia yment of at least 10 per cent dividends
on the issued consolidated stock. and the
accumulation of verv large cash reserve.
1.-THE ore blocked. when taken out under
company management. VIII net much
higher profits than under the leasing syS-
tenn The assurance of reserves capable
o. sustaining a 10 per cent dividend rate,
in addition to present cash treasury fund,
gives ample time for exploration and de-
VeIoDment of the territory to greater
depth and probably for placing in reserve
ore for ten years production,