The Parker post., 1911-07-22
WANTED-MINES


that come to notice, even many but in
completely developed, are promptly fl
nanced if the owners are at all rea-
sonable in their attitude says writ
er in the Mining and Scientific Press.
Within a year an expensive eXamina-
ton of a California gold mine was
made, where the ore averaged only
$3.50 per ton in value. The mine was
rejected, not because of the low val
ue of the ore, but because the guam
tity proved did not warrant the in
vestment The orebodies found at
Porcupine passed promptly into the
hands of experienced and capable men
amply prepared to furnish all the
money needed to develop them on the
largest scale, and there is money
waiting for anything else that shows
equal promise.
1t is an encouraging sign of the
times that substantial business men
of large resources are prepared to in
yes in metal mines on terms fair to
all concerned, including the promoter
and the minor sotckholder. 1t is
to be hoped that their experience may
Justify a continuance of this attitude
Making mining less of a game for
gamblers, and more a business for in
vestors, is worth while. We would not
however, lose sight of the fact that in
legitimate mining there is a stage
where speculation is large element.
This, though, we believe is properly
in the development of prospects rath-
er than in the manipulation of shares
in companies operating producing
mines. A prospect is always uncer-
tain To discover it in the first place
and to develop in the second, calls for
SKILL experience, and money. Much
of the first two, and, relatively, little
of the third, are needed. This is the
part of mining that attracts the man
who has but little capital but album
dant nerve and optimism. Of the
whole number of prospects found,
few make good mines; but mine
once developed can be promptly
converted into cash at very large
profit on the original investment A
prospector may work all his life and
never discover anything of value. He
may become wealthy in few months.
Surely this affords a sufficiently wide
field for any legitimate desire to
speculate.
1t is none too easy to find even
good prospect Most of the rich ore
shoots that outcrOp at the surface and
pay from the grass roots down have
already been staked. Great portions
of the world have been thoroughly
prospected so far as this stage of the
work is concerned. Not that similar
Ore-shoOts will not still be found in
the old and thoroughly prospected
cOuntry-indeed, experience at Grip
pie Greek, Goldfield National, and
elsewhere, urges to the cOntrary-but
in the main, prOspectors must expect
either to go into country till now in
accessible or spend more in testing
each outcrOp in depth.
Modern prospecting is a peculiarly
suitable field for the organization of
limited partnerships or small 'syndi-
Gates to use a large and pleasing
word for a small venture. The men
going into it should recognize the
speculative nature of the business
and should choose their field agent
with care. This done, they should
be hopeful and persistent When a
suitable claim is found, attention
should be concentrated on finding
ore. There is no need to worry over
metallurgical difficulties or treatment
charges; if the ore is found it can
who will shoulder those worries. Find
ore, that is the first essential; do not
gOuge it out so that nothing is left
but the shell, that is the second. 1t
is a mistake to waste good ore by
mining and selling it at the high cost
always incident to prospecting opera
tions. Find the ore take your profits
and find more ore, and you will soon
cease to worry over increased cost of
living. Show faith in your prospect.
If you cannot do that, stay out of the
business, but if you go into the game
play it fairly. Not long ago our at
tentiOn was called to company fl
nanced and promoted by attorneys
and bankers and engaged in selling
stock to the general public. A report
by reputable engineer stated his be-
lief that expenditure of $4,000 would
result in developing several hundred
thousand dollars worth of ore. The
amount needed was by no means be-
yOnd the resources of the group han
Hing the DrODerty Yet they were