MINEBK01067

• County: Ouray
• Document: Manager
• Suffix: A

iter-
cally
vein
~,~o
been
v run
cor-
must
There
at this
lization
blocked
mine's
39~ tons
and a net
sight• In
,ocked out.
of wet ore,
et value of
;ed out our
gether with
i9
the discovery of the ore-body on the Chicago Tunnei Level, lead us to
believe this amount of ore can be safely relied on for future exploitation.
The total gross value of the ore-reserves thus defined
~,e accordingly estimate at ~$,S2t,9'7o.g6, and the net value at
wi4,z94,d51•46~ The net value of our present ore-reservesdeseite the
~i,i 800,000 greater than when we purchased the property, P
abstraction of the sum of ~r,3t3,bo4 as earnings of the past year.
Cost of Operations.
Awing to the lack of systematic and segregated accounts during
the previous management it is impossib]~e to maltase co a paris~,oe ertheless
the economies we have effected during the p Y
we have attained considerable succesns roved' metallur~icaa hrocessesl'a
b P
same time, been able to realise, by P
higher extraction than formerly of the metal values of our ore. I have
within the past few days succeeded in obtaining some important
concessions from the "telluride Power Company, «'hich will result in a
considerable decrease in the cost of power used at our mine and mill;
and have, at the same time, provided for additional power upon
• advantageous terms, when, in the near future, this increase shall be
required.
~l Fluctuations in Monthly Production.
There has been some unmerited criticism of the management
roduction. While the
i
with reference to the flucB'aaolVl~ne are tooyextensive and reliable to
ore deposits of the Camp the ,
be classed as patchy or pocl;ety, y nevertheless, must be included
~ ~•or of veins which are characterised by the occurrence of
in the oaten y
~ ~
I
~,
,~
,I ~~
(}.
,il'
',
i~
}II
f1
li
~I,
~~
~~~
~,
~t''!
if,'
li~