The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-05-31
ROUND MOUNTAIN CO.'S
ANNUAL REPORT Is GOOD

The Round Mountain Mining COM
pany, which declared its initial divi-
dend of $40 900, or 4c a share. on Wed
nesday. is apparently I'm tip-top condi-
ton. In the annual report to share
holders, just issued, President ]. r.
Davis comments on the eompany's OPP
erations and makes a showing that
speaks we'll for the company and the
Nevada camp in which it is located. He
says:
I'VE have now blocked out and ready
for stopping 80 900 tons of ore, which
calculated upon our average recovery.
sl3.25 per'ton, gives us $500, 600 worth Of
ore IN sight. ! shall not attempt to
make an estimate of the probable ore in
sight. II will not however, be difficult
TO greatly increase our ore reserves by
extending our $50. 500 and $50 levels. A
strike of great Importance was made
last month 200 feet east of the shaft on
the 20 level. Only eighty feet of drift
ing has been done on this new ore
shoot, but ii is developing splendidly
and producing a good tonnage.
Il am now having installed a twenty
i've horsepower hoist on No. l shaft,
800 feet east of No. 3, from which l ex-
pect TO obtain a considerable tonnage
of ore.
During the period covered by this
report $lS,699.66 has been spent on sur
face improvement and equipment. The
surface improvement consists of super
intendent's house, assay office, addition
10 mill. mill store and machine shop.
water plant mine office, etc: and
equipment consists of two five-foOt
Huntington rock breaker, boiler and
engine. With this additional mill
equipment, we have been able to in
-
tons day TO eighty-five tons per day.
"As a comparison. II might be of in
terest to the stockholders TO state brief
ly few facts regarding the value of
our ore, cost OF production, etc. The
average value of our ore from the be
ginning of operations May l, 1907 to
April l, 1908, inclusive, was S1S25 per
ton. This is the average recovery cal
culated upon mint returns after deduct
ing cost of shipment and mint charges.
The average cost of mining and mill
ing during this period was sos per ton.
This cost includes expense of develop
ment. The cost OF mining and milling
for the quarter ending March 81, 1908,
was S5.76 per ton. The cost for mining
and milling for the month of March
was $5.49 per ton. These costs include
cost Of development. The average
value of ore for March was 1852 per
ton. l mention these working costs so
that you may see that the cost Of min
ing and milling is being steadily re-
duced.
You will note by the secretary
statement that the net profits above
mining and milling and development
| costs from Aug. l, 1907, TO April /, 1908,
a period of eight months. is $685. This
report also shows a net profit OF $751;
1884 for the quarter ending March 81,
| 1908. II is also OF interest TO note here
that from the beginning of operations
| May "A, 1907, to March, 1908, inclusive
there were milled 1909 tons of ore
which netted the company sos, 1855.
From the fact that our ore shows
| considerable improvement in size and
values in our deeper levels, and the fur
/ Their fact that our mill capacity will
soon be increased. l feel confident that
we will be able TO maintain our record
of production as shown by the quarter
ending March 81. Calculated upon these
returns, our property shows a net earn
| ing power of 1851 SO per year"