Mohave County miner and our mineral wealth., 1922-01-27
THE TIME TO MAKE
 MINING INVESTMENTS
By Henry M. Atkinson, E. M.
 Salt Lake City.

Inc present IS the CrlClCdl ana psychological time both for mine oper- ators to be active in the development work in their mines which have been lying dormant ,and also for mine in veStors to be busy in Investigating properties which they may purchase. There is no disgusting the fact that both 1920 and 1921 were hard years in the mining business. They were difficult years both for stockholders in the larger companies whose divi- dends were cut off, and for the own crs of small properties which were compelled to cease operations. Every one in the least acquainted with the details of mining knows that these two years have brought about condi- tions which have forced the liquidation of many valuable mines and pros poets, and it is to these particularly wish to direct attention.
 In general mining men feel that the day has passed when good mines in first-class operating condition can be brought outright on favorable terms. Very few transactions of this charac- ter have been made in recent years. The developed mine, with adequate ore reserves blocked out, commands high price. Owners are not tempted to sell when ore reserves show promising future. It is particularly true that they will not sell on the depressed market for metals now existing. When operating costs be- gan to rise in 1917 and 1918 the Gore in sight" in such mines was extracted and new development work was dis continued. Today the mines thus op- erated stand apparently exhausted and worked-out shells. Their owners cannot demand and get high prices for such properties.
 Only Faith and Little Money Needed.
 In the same class with these are a large number of excellent prospects which only require faith and little money to develop them into valuable mines of the future. The big mine owner of the years close at hand Will be the man who is willing now to in vest in these inconspicuous properties which, to the casual observer, seem without much value.
 This situation can be more easily appreciated if we take concrete exam ples to illustrate the conditions. It Is q conservative statement, l believe, to say that the controlling shareholders of such developed properties Tn our own state of Utah as the Silver King Coalition, the Chief Consolidated, the Tintic Standard, the Bingham Mines and the Utah-ApeX companies would not sell their control except at prices o,, terms which would neither be i'm possible or unattractive to the buyers These mines possess ore reserves largely developed; they have money in the treasury, and the owners would not sell their mines on the present depressed metal markets. On the ether hand there are many promising small mines and prospects which no" need capital and need it badly. lhese properties offer attractive opportum- ties to the men seeking legitimate mining investment.
 Illustrative Opportunities Noted.
 At the moment know of one com panv which offers the control ot US nropertv to capital which will build a mill, and not a large mill, either; another company offers control to parties who will equip it with power plant for drilling and hoisting, and this property has production record of high-grade ore running into many hundred thousand dollars. Still an other group of small owners offers its property-a prospect showing hundreds of dollars per ton in gold and silver values-to capital which will carry on the development work, and this offer is made on two years time on very attractive terms and price. So it goes. These examples may be duplicated many times in the knowledge of every active western mining man.
 Capital cannot complain that it is not receiving fair deal when the owner will put his property into the transaction against new money to be spent in development, and let the money control the enterprise if the outcome is successful.
 This manner of dealing shows the faith of the mine owners in their prop erty; they do not undertake to "mine the pocket of the capitalist" They merely say, eve need money to make ours a producing and profitable mine. You put in the money and take full charge of the development of the mine and the disbursing of your own funds. If the outcome is successful, as we be- lieve it will be, you shall have the control. If at any time you feel the investment will not be successful you may withdraw" This sort of pro posal is an eminently fair one, and many such are today awaiting the ac-