The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1909-12-14
UTAH COPPER NOW
BIGGER THAN EVER
Last Quarters Production Was
Made From Section Not Be-
fore Counted Upon.

feature of Utah COppers production
for the third quarter of the year, which
means virtually the doubling of that
company's "in sight resources, while it
was covered in the executive committed s
report of that quarters operations, was
Tor some reason overlooked in the press
summaries sent out from the east. 1t Is
that the production for the three months,
which fell only a Urifle below the record
output for the previous quarter, was
made largely from a section of the COM
paly's pOrphyry deposit which averages
only Is per cent cOpper-a section which
has not been included i'm the estimates
of ore tonnage made by the company in
the past. And a profit of 81 a ton was
made on that ore, which is much below
the average grade of the mine.
Discussing this remarkable perform
anCe the current copper letter of George
/. Walker of the Boston Commercial
says:
Including its is per cent ores and
about 12OUU000 tons placed in sight by its
stripping operations this year, which
was previously not known to exist, it is
row estimated that the property con-
taius approximately l22V51O50 tons or
Gre, which viii yield profit of Sl.23 to
Sl.75 a ton on "a l3lzc copper market, or
total of approximately Sl5O,uo9u5 TO
$4,000 600. The cOmpanys capital stock
is selling for a little over A0,O00O00, and
the current net earnings are at the rate
of per cent ON the market price.
81 understand that Utah Copper is now
moving 10000 tons of material daily, of
which 1000 tons is ore which goes TO the
concentration and the remainder is sur
face Gaping, which is being stripped of
i'm proportion for the extension Of the
steam shovel mining.
Magnitude Not Realized.
Few people realize or appreciate the
magnitude of this COmpany'S operations
and the systematic method in which the
work is being carried forward. From the
beginning of operations the management
has been looking far ahead and working
out plans for a steadily increasing vol
ume of production, the objective being
an ultimate output of 1900 tons of ore
daily and a production of 100000 or
more pounds of copper annually.
with an output of 10000 tons a day. it
would require thirty-four years 10 eX-
haust the prOpertys probable ore re-
serves, and in the meantime the com
many would earn between Sc and 50
share annually on it's stock, with the
price of copper varying between he and
15c or a total OF 500 to S225 a share.
IF Utah Copper takes over Boston
COnsOlidated-aud those in position to
know say that it undoubtedly will-the
combined company will possess approx
imatelv $50 O00. 600 tons of ore, which
should yield an average OF at least SIS
a ton, or S233,OJ0,00J. The consolidated
companv will probably have a capitaii-
zation of 100000 shares, which. at $50
will have a market valuation of S66OlO,-
O0O equivalent to about 80 cents on the
dollar of prospective ultimate profits.
Notwithstanding the considerable adj
vance Of Utah Copper stock in the last
YEAR or two, IL would seem that it is yet
cheap, whether viewing it from specu-
lative or investment standpoint.