The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-09-14
WALKERS REVIEW OF
LOCAL PROPERTIES
PASSES SEVERE CRITICISM ON
MANAGEMENT OF GIROUX
CONSOLIDATED

the tGeCt1OH anu etlulplllcll
OF the mill and smelter which are tC
treat the ores of this company ano
the Cumberland Ely. The mill is de
signed to treat 1000 to 1900 ton:
of ore daily. 1t will be finished be
fore the smelter, and the concen
trates will be shipped temporarily to
the Garfield smelter at Salt LAX e
| One-third of the concentrator viii
go into commission by January l
and the remainder of the mill .and
smeter should begin operating in
March.
This reduction plant is loacteo
about twenty-five miles from the
mine. The plant is owned by the
Steptoe Milling & Smelling company
the stock of which is divided equally
between the two companies which il
is to serve. The Nevada Consolidat-
ed and Cumberland Ely each own
) per cent of the capital stock of the
Nevada Northern railroad which is
to serve them.
This reduction plant is located
The east side of Steptoe valley, about
l 4 miles north of Ely, at Il point
where several big springs gnsh out
and provide an ample supply of wa
ter for all purposes. About half a
mile east of the plant, just over the
first range of mountains, is large
and permanent stream of water
known as Duck creek. The bed of
this stream is about 900 feet higher
than the foundation of the mill. 1t
is the intention of the management
to tunnel the mountains and brin g
this stream through to the mill.
where it will be used first for power
and then will supply by gravity all
the water needed for concentrating e
and other purposes in general about
the pant.
1t is the estimate of the various
copper engineers who have sampled
it that Nevada Consolidated's ore
contains an average Of 2 Ia per cent
! to 2 "a per cent copper and that it
will yield under treatment an aver
age of 80 pounds to the ton. On a
daily output of 2,200 tons of ore.
therefore, the company should next
| year produce 27,000,00 pounds of
copper, or a little more than q
pounds for each share of its stock
If it is produced at Il cost of 8 cents
per pound and sold at . cents,
| therefore, it will give the company
net earnings of $3.50 per share, or
25 per cent on the recent selling
price.
When its production has been in
creased to 5000 tons of ore daily, as
il will within two or three years, Ne
vada Consolidated will put out 75,-
100000 pounds of copper annually,
or SO pounds for each share of it's
stock. With such production the
company should he able to show net
earnings of 500 to SO per share on
n 13-cent copper market, and s. to
Sc on an 1S-cent market In one
| year of 25-cent copper-and II is
likely to sell at that price again
Nevada Consolidated may be able to
show net earnings of $40 share.
The plan is to increase the capacity
| Of the Steptoe plant to 1900 tons
of ore daily. There is no reason for
the belief that it will stop at this
point. 1t is demonstrated already to
| the satisfaction of the management
of the Nevada Consolidated and Cum
berand Ely that there is something &
like 40, ,000,0 900 to 60,000 900 tons of
ore available in the properties, or
enough to feed "A 12 ,000-ton plant
20 to 80 years. 1t is quite probable
that as much ore will be developed
1t stands to reason, therefore, that
the plant will grow with the mines
for many years to come.
| The Ruth mine of the Nevada Con-
solidated has been developed exten-
sively by an incline shaft which is
down about 500 feet, with long drifts
at each level A big working level
extends from the Ruth mine to the
new Star Pointer shaft, where it will
be hoisted.
The Star Pointer is said to be one
of the largest mining shafts in the
world. 1t has four compartments,
and is designed to hoist $500 tons
of ore daily. A feature is it's timber
compartment, which is nine feet in
the clear.
e Copper Flat ore body was de-
veloped quite extensively by the old
New York & Nevada company, and
a very large tonnage of to 2 1-2
per cent concentrating ore blocked
out. This work has been supplement-
ed recently by operations with churn
drills which open fiye-inch holes to
as great depth as desired. The
sludge from the drill holes is care
ioi'! toiitNbCu anu fiosdytu dS tllt
work progresses.
One of the big steam shovels whict
Will be used to strip away the cap
ping and mine the Copper Fla
ore body is on the ground. Gradin,
for the railroad is completed to tn,
location. Nevada Consolidated nov
has railroad service at its mines; an,
when the Steptoe mill is completed
will be able to supply very heav
tonnage of ore.
The Ruth ore will be mined by un
derground caving, by the same sys
> TEN that is used so successfully AM
: economically in the iron mines o
9 Michigan. The ore is very soft ant
4 can be broken rapidly and cheaply
r 1t is estimated that the experienced
: iron miners who will have charge o
h the underground work will be able
/ to keep mining costs down below %
: cents per ton of ore. and that they
t will lose practically no good ore il
J. the caving operation.
S GirouX Consolidated is probably
8 one of the richest and most valuable
g properties in the Ely district. The
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