The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-10-01
UTAH COPPER MINES
DISCUSSED IN BOSTON

In Saturdays issue of the Boston Com
mercial George l. Walker discusses Utah
Consolidated, Utah Copper and Boston
Consolidated, as follows:
Utah Consolidated must be earning APP
proximately 81 per share on its stock: IL
is putting out 800 tons of ore daily which
averages a little better than 3 per cent
copper and carries excellent values III
gold and silver. / figure it is producing
at the rate of 100000 pounds of cop
per annually, at a cost OF about cents
per pound. 1t therefore must be earn
ing approximately 81 100000 annually, or
"a share on its 30o000-share capital.
This company's splendid dividend record,
and the fact that by the extension Oh
developments it has practically DOUBT
the tonnage of ore in sight in the mine
during the past year or two, should
cause this stock to sell above $50 as
soon as the stock market regains its equi-
librium.
Utah Copper stock acted exceptionally
well while the market was under pres
sure. In view of the fact that this stock
has advanced from sl3 share in the
last three years, it was believed by many
that il would be one of the first cop
pers to show a bad decline in weak
market. The action of the stock, there
fore, is a strong confirmation of the
claims made by the friends of the com
pany that it has demonstrated an ability
to produce $1,000 900 pounds of copper an
nuaIly at a cost of about cents per
pound. If it can do this the stock is
certainly worth more than its present
selling price.
Boston Consolidated is obtaining bet
ter results than is generally believed A
mining engineer who is on the ground
and in a position to be thoroughly con-
versant with the cOmpanys operations
The low results obtained in the mill
at the outset were due to large amount
Of iron in that ore which lay immedi-
ately below the Gaping and which was
the first to be reached by the steam show
els, but not to an absence of copper in
the ore. The excess of iron contents is
simply local condition. and the company
has a vast tonnage of ore minus this
iron which ranges from 1.6 to 1.9 per
cent copper. It is now producing cop
per at a sufficiently low cost so that
it is able to carry on its operations with
the So per cent advanced on the cOncen-
trates by the smelling company. 1t is
producing copper from pOrphyry at a
cost of 101z cents per pound.
The ore is being drawn from under
ground, the caving system of mining be-
ing used. and the cost of extraction is
about 40 cents per ton Milling has been
costing about 30 cents per ton; but as the
to 1900 to LOO tons daily. it is expected
that the cost of milling will henceforth
be under 30 cents. During the month of
August the porphyry ore treated yielded
to the ton. Gross operating costs, in
Guiding eastern expenses, have been about
$40 to $3.50 per ton of ore, but they
will be reduced % or 80 cents per ton
within month or two.
Most that has been said unfavorabIe
to the Boston Consolidated is based up
on the very poor showing made by the
mill Immediately after II began opera
tions. 1t is now demonstrated beyond
question that this company's mill is able
to do better work than that of the Utah
Copper. Approximately - per cent or
the copper contents of ore is being saved
by concentration There is no possible
question by what the company will earn
handsome profit from the treatment of
its big porphyry deposit.
The Utah Copper company can put
out 1000 tons of ore a day. and Boston
Consolidated can put out 5000 tons of
practically the same grade at about the
same cost per ton for mining milling