The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1914-06-20
WINGfIfID TAKES new
OPTION ON AURORA GROUP

With a consideration varying but
slightly from $l,000,O00 the long
pending deal of the Wingfeld inter
ests for control of the Aurora Con-
selidated property in western Nevada
held by the Knights of Provo was not
consummated in Salt Lake. 1t is un-
derstood that the Knights have under
consideration q new Offer The prin-
cipals at the meeting were Jesse
knight, J. Will knight and R. f. Al
len of Provo on the part Of the sell
ers and George Wingfeld of Reno and
Albert Birch of Goldfeld, represent
ing the buyers.
For some time the Gcldfeld Con
solidated mine at Goldfeld has failed
to keep up to the first few years of
its phenomenal production which gave
it the reputation of being the largest
gold mine in the world. The direct
ors have been looking about for an
auxiliary to help out the dividends.
The old Aurora mine in Mineral coun-
ty caught their eye. This had been
acquired by the Knights and asso-
ciates at a low figure. Yet since the
Utah people secured control they have
expended in Improvements approxi-
mately 100000 This embraces a
$4OO 900 mill OF 500 tons daily capaci-
ty and lot of development of the
low grade ore bodies. This work
probably cost not less than $200,000.
II is estimated there has been block
ed out 100000 tons Of ore. 1t aver
ages $5 ton in gold. The mill is
ready to begin operating in few
days and the expectation is that it
will show recovery of close to 90
per cent.
The first option taken on the
Aurora by the Wingfeld people was
for $s25,000. During its existence a
l0-cent assessment was levied. Thls
called for 100000 While the Neva-
da people were sampling the mine the
option expired. Frantic efforts were
made to have il extended. But not
on the old terms after the 100000
had been expended. So this amount
was added to the original, and the
second option was for $925,000. This,
too, was permitted to expire on June
l5-Monday of this week..
The Nevada men were parleying Tor
NOT only a reduction of the price, but
for a system of deferred payments
with view of making the mine pay
for itself as i. went along. The dick
ering required two conferences at the
knight Investment company offices on
the eighth floor of the Newhouse. AT
the afternoon meeting the details
were arranged and new offer drawn
up and signed. -. NJ.
II is understood that the Nevada
people will probably assume eontrol
,t once The mill will be started up
a. least within the next ten days
This will probably be at haif eapaclty
and gradually increase so that witnin
the next sixty to ninety days ~
should be treating 500 tons daily. Al
capacity 100000 tons OF ore woulo
keep the mill going five to SIX years
net saving of 81 ton would pe
Al 600 a day, 100000 month"; o.
$a6O GOO a wear. In three wears the
mine should pay for itself, with sun
c;ent ore left to keep it going tha'
much longer.
At present the Goldfeld consolidat unu
al Is said to have more than sl'ooo''
900 treasury surplus. The NINE y
making monthly a net profit of about
s150 900. With the setting aside OF
J;vidends for a time il would oe IN
nos;tion to easily meet this new re-
,nirement either in an out-ano-ou'
cash settlement or in deferred pay
ments.-Herald-R Republican.