The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1918-05-11

have been levied since.
The first work-that of dewater-
ing the mine-was begun upon your
property May 90, 1915. A new
and complete plant of machinery, of
modern type and adequate for all
purposes, was installed. The mine
had been standing full Of water for
nine years; the ground was found
to be water-logged and the workings
caved. The work of recovering the
mine was arduous and expensive,
requiring timbering throughout.
In addition to the smelting-grade
ore produced, a considerable ton
mage of good mill ore has been
hoisted and a large tonnage remains
exposed in the mine. This is an as
set that should be realized on, but to
show a profit the ore must be milled
upon the ground; and in view of the
statement of Superintendent Turner,
in the premises, we would recon-
mend that steps be taken to install
an inexpensive mill at the mine, to
reduce this ore to an available as
set. A haul of six miles to sampler,
or So pei ton, would thus be saved,
beside heavy freight and treatment
charges, which this grade ore can
not stand.
While the ore of your mine is of
good average grade, the values are
more or less elusive, and the size of
the pay-streak irregular. For the
most time, the pay-streak is narrow.
At times there are spots of enrich
ment, where the vein widens and the
values run into sensational figures.
This leads to the constant hope and
belief that large lenses or chambers
of high-grade ore may be encounter
ed at any time.
Besides the work in progress on
the two main levels, exploration of
the east end of your property has
begun. The old "Lockhart" shaft is
being dewatered and will be sunk
another 100 feet, and drifts will be
run to the west, where known ore
bodies of good size and value are to
be found.
While the operating of the Great
Bend mine has been more difficult,
perhaps, than any other mine of the
district, still operating costs COM
pare to its advantage with the most
favored properties. Every economy
has been exercised.
1t will be observed that notwith-
standing quite a handsome ore-pro-
duction, the mine: for the entire
period of 26 months, shows a loss
of $4,000. This represents, ap-
proximately, the cost of recovering
the mine and putting it upon a pro-
ducing basis. Since ore was opened
the returns have about paid operat-
ing expenses, including thousands of
feet of dead" or development work.
But it has been a close proposition
too close for an enterprise of size.
The failure of profitable ore for 60
days would put the company in debt.
Sound business requires that steps
be taken to fortify the treasury,
more especially in view of the new
work projected on the east end of
the property and the erection of a
mill.
The Great Bend, in common with
other gold mines, suffers from
high war prices" for all supplies en-
tering into mining operations, with
out the compensating advance in the
price of it's product. Every metal
other than gold has advanced in
price to keep pace with the advanced
cost of supplies. For a given out
put, the profits of a gold mine at
this time are about 80 per cent less
than two years ago, or, conversely,
the expense is 80 per cent more than
formerly.
notwithstanding these unfavor-
able conditions, the stockholders of
the Great Bend may look forward
t o a reasonably profitable future, as
the opening of the "Lockhart" shaft,
the erection of a mill permitting
realization upon mill-grade ore, and
the continued output from present
workings promise much for the COM
ing year.
The annual meeting of the stock
holders was held April "a. There
were represented at the meeting,
either in person or by proxy, 1904
063 shares out of an outstanding of
1,4S7,235 shares, and the following
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