The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1916-07-15
CHANCES in MINING ARE Shown
To BE GENERALLY FAVORABLE

Inc 1act mat the Mlu-
ing and Exploration Co, organized
by powerful and prominent inter
ests to acquire and develop mining
properties, liquidated after hay-
ing investigated 1900 properties
without finding one sufficiently
attractive to induce it to under
take its exploitation 1t still being
mentary on the chances which a
nonexpert investor in mining stock
has of picking a winner, and
moreover to show hat the mining
industry is on the wane, that
good mines are no longer to be
found. This notion, however, fails
to take into consideration funda-
mental differences in the policies
of the several exploration and de-
velopment companies.
One of our largest and most
successful mining organizations
maintains an exploration depart
ment, and according to it's annual
report for 1915, had presented to
it for consideration 7S6 proper
ties. OF these 655 were rejected
reports and data submitted. A
preliminary field examination of
11S was made. and 10 properties
were accorded a complete examina-
ton. For the year previous 63a
properties were offered. OF these
examination of the reports and
data submitted. The preliminary
field examination of 50 was made
and in the ease of 10 properties
a complete sampltVg and examina-
tion was undertaken.
Now the policy of this company
is to acquire only mines that have
a sufficient tonnage of ore de-
veloped to show them a profit un-
der their scheme of operation.
Many mines today operating at a
loss could be worked at a profit
by an organization as large as
the one we are considering, and it
is on this margin of operating
returns and on it's capabilities OF
more extensive and more inten-
sive operations that this company
relies. So that prospects, no mat
ter how promising, are not con-
sidered.
Another of our largest mining
concerns operates on an entirely
different basis, considering only
prospects and declining to under
take the purchase or acquisition at
a developed mine. We are not in.
formed as to the number of pro-
positions this company considers
in the course of a year, but from
it's policy it might reject perfectly
would be no reflection on the pro-
positions, because the very same
mines might be most desirable from
the standpoint of the other COM
pany just cited.
We have in mind another COM
pany, not Incorporated, composed
of very wealthy men experienced
in the mining business, who are
continually on the still hunt for
good mining properties. They will
not consider a prospect, but only
a mine with a developed tonnage,
and while unlike the other corn
pany we have just mentioned, they
have no operating organization,
they have the means for equip
ping a property that is suffering
from lack of or poo equipment
and inadequate working capital
and making from a mediocre pro-
perty a big success, as they have
recently done in n instance in
British Columbia.
The men in this aggregation say:
why should we go through the
worry and mental anguish of de-
veloping a prospect when we do
not have to?" So that by this
aggregation also, prospects, no mat
ter how alluring, will not be OH
sidered.