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By J. D. Davis

THIS-report gives results of in investigation of the carbonizing properties of 18 coals, including 2 from Alaska, 12 from British Columbia, 3 from Washington, and 1 from Utah. Each coal was carbonized in the standard 13-inch Bureau of Mines-American Gas Association (BM-AGA) retort at 900° C. Plastic properties were determined by the Gieseler and Davis methods, and agglutinating and free-swelling properties were determined by standard methods. Expanding properties were measured in the Bureau of Mines sole-heated oven. From the results of the tests on these single coals, three coals from the Crowsnest area in British Columbia, representing Elk River Nos. 4, 9, and 10, were selected for blending with the Utah coal, which was from the Lower Sunnyside bed, Horse Canyon mine, Emery County. Lower Sunnyside also was blended with Wilkeson -Nos. 2 and 3 (Washington) coals, Pocahontas No. 3 from McDowell County, W. Va., and the Oklahoma low-volatile coal used in the blend carbonized at, the Provo, (Utah) coke plant at the time this investigation was started. Most of the blends contained 3 percent hard pitch, which is the proportion used at the Provo plant. The blends were also carbonized in 13-inch BM AGA retorts at 900° C. High-volatile B coal from the No. 3 bed, Evan-Jones mine, Lower Matanuska, Valley, Alaska, yielded poorly fused coke or char. M-bed coal from the Chickaloon mine, Upper Matanuska. Valley, Alaska, ranked as medium-volatile bituminous and coked strongly. It expanded 39.6 percent in the sole-heated oven at a. charge density of 55.5 pounds per cubic foot..

Jan 1, 1952

By Shemek Oginski, MARK C. JOHNSON

All Rights Reserved. Printed in the United States of America. Information contained in this work has been obtained by SME, Inc. from sources believed to be reliable. However, neither SME nor its authors guarantee the accuracy or completeness of any information published herein, and neither SME nor its authors shall be responsible for any errors, omissions, or damages arising out of use of this information. This work is published with the understanding that SME and its authors are supplying information but are not attempting to render engineering or other professional services. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Any statement or views presented here are those of individual authors and are not necessarily those of the SME. The mention of trade names for commercial products does not imply the approval or endorsement of SME.

Dec 1, 2015

This report summarizes the results of a research project entitled "Fatal Accident Data Base Development." This project is the last project under Contract No. S0110601. Volumes I and 1I, "Industrial Engineering Study of Hazards Associated with Underground Coat Mine Production," summarize the original industrial engineering project and the Fatal Accident Report Analysis project. These projects were completed and accepted by the U.S. Bureau of Mines on December 10, 1971. Both volumes of the report have been made available by the Bureau to the public through the U. S. Department of Commerce technical information service. Another project under the same con tract, entitled "Equipment Operations Safety Study, ' was completed in January 1972 and the report was accepted by the U. S. B. M. at that time. The analysis in this Natal Accident. Data Lose Development report is closely related to analysis in both of the earlier reports. The original project involved an industrial engineering and safety of production operations for a representative sample of underground bituminous coal mines. The contactor was required to make recommendations 'in work practices, mining methods, equipment, and safety practices which can effectively reduce the fatality rate from rib and roof falls.' (Longwall mining methods were excluded from the study.) Time study and work element analyses were performed in over 50 mines as part of the field data gathering effort. Another requirement of the study was to develop sets of multiflow. Process charts, which are diagrammatic illustrations of the time-related interaction of mining, cycle job elements.

Jan 1, 1972

By Georgene Renner, Chee Theng, William Gleason

"In February 2018, drawn in part by the states’ proud mining heritage, SME took its Annual Conference & Expo to Minneapolis, MN for the first time. More than 5,000 people and 554 exhibitors converged on the Minneapolis Convention Center for three days of networking, exhibiting and technical sessions.The state’s mining legacy, one that continues today, is fueled in large part by its vast iron ore resources in the northern part of the state. The historical significance of the mines in the Mesabi Range, otherwise known as the Iron Range north of Lake Superior, cannot be understated. “Mining is a way of life here,” said U.S. Congressman Rick Nolan of Minnesota’s 8th Congressional District. A native of the Iron Range, the three-term U.S. congressman was one of the featured speakers of the opening keynote session. “We like to think we contribute enormously to the well-being of this country and the world. We were the source of the iron ore and steel that helped win two world wars. And we like to think that we are part of the progress that has taken place in the United States ever since.” Nolan kicked off the keynote sessionthat focused on innovation and its part in the mining industry. The session included Rene Aquilar, vice president of corporate affairs and sustainability, Antofagasta Minerals Group; Bob Anderson, vice president for research and development, 3M; Rolf Weberg, executive director, Natural Resources Research Institute, University of Minnesota-Duluth and Christopher Beck, executive vice president and president, Nalco Water. The panel session looked at U.S. and global minerals production, and the importance of the United States to maintain a major role in the minerals industry, both as a producer and as a technology leader. The panel also touched on the global mining industry and the issues that impact mining around the world. Sustainability, the use of water in mining and earning a social license to operate were among the topics discussed by the panel.Speaking of the importance of mining, Nolan conceded that talking about the benefits of mining to the crowded auditorium at the SME conference might be akin to a preacher speaking to the choir, but, following the adage that all politics are local, he continued to illustrate his point by emphasizing the importance of mining to the Great Lakes.“A study by Homeland Security concluded that 13 percent of the nation’s GDP comes out of Lake Superior through the locks at Sault Ste. Marie and most of that is iron ore,” said Nolan. “That study found that, if those locks fail, it would create a national depression. It would put millions of people out of work. That ore and those minerals supply the steel mills, the auto industry, the heavy industrials. They are the heart of our economy. The study concluded that if the states that make up the Great Lakes were a nation, it would be the fourth largest economy in the world.”"

Jan 5, 2018

By Raymond E. Davis

LET'S imagine we are at the Grand L Coulee Dam, where daily 15,000 barrels of low-heat Portland cement and 27,000 tons of processed aggregate in various sizes are mixed to produce 30,000 tons of concrete. Inspect the autographic records which show for each 4-cu-yd. mixer batch of concrete the weights of its constituent materials including its several sizes of aggregate, cement, and water, and which also show the period of mixing and the consistency of the mix. Watch the inspectors sample and test the aggregate for gradation and moisture content of sand, and sample the concrete for homogeneity. Watch the huge buckets deposit the concrete in the forms. It looks too dry to handle, but the concrete vibrators make it melt away. Just enough vibration fully to com- pact the mass, but not enough to produce segregation of the materials; the inspector says when. See the sprinkler system covering all hardening concrete with a spray so that it may not thirst for water. Watch the cleaning of the top of an old lift preparatory to placing a new lift; the sand blasting; the blow-down; the mop-up; the minute inspection.

Jan 1, 1939

The growth and influence of Sherritt Gordon Mines Ltd. in the nickel producing industry has been quite phenomenal. Although the company's Lynn Lake deposit in Manitoba was actually dis- covered in 1941, it was not until 1945, when men and materials were more readily available as a result of the end of World War II, that the area was staked and news of the discovery leaked out. As a result of the discovery, Professor Frank Forward of the University of British Columbia was commissioned by Eldon Brown, then President and Man- aging Director of Sherritt, to develop a new nickel refining process. A pilot plant, based on the results of Professor Forward's research, was constructed in Ottawa, and after the successful testing of the Lynn Lake ore, Chemical Construction Co. was given a con- tract in 1952 for construction of a producing plant. By 1954, the Fort Saskatchewan refinery was operating at an annual production of 15 million lb of nickel metal in the form of briquetts or powder. Capacity has since been increased to 30 million lb.

Jan 10, 1968

By S. L. Windes

This report presents a tabulation of the physical and petrographic properties of Over 100 rock types from operating mines or mineral-investigation projects. The physical properties include the following: Apparent specific gravity Apparent porosity Compressive strength Flexural strength, (modulus of, rupture) Impact toughness Abrasive hardness Scleroscope hardness Modulus of elasticity (Young's modulus) Modulus of rigidity Specific damping capacity Longitudinal bar velocity

Jan 1, 1949

By H. Akbari

Ordinary portland cement (OPC) is the key pozzalonic component of the concrete mix widely used as a construction material worldwide. B illions of tons of OPC are used in the construction industry each year. However, calcinations of limestone and silica that produce OPC also produce almost an equal amount of C O2 during the cement manufacturing process. Thus, OPC production accounts for nearly 7% of all anthropogenic C O2 emissions each year. The main objective of this study was to develop a geopolymer-based composite to be used as a substitute for OPC in concrete application to significantly lower the carbon footprint of the construction industry. A waste material produced during the coal combustion process was used as the main raw material for the geopolymer-based composite. It was mostly the nonmetallic content of the F-type fly ash produced from the combustion of bituminous coal. The authors envisioned extracting some of the valuable metal oxides from fly ash prior to using the major nonmetallic portion of the fly ash for geopolymer concrete application. The results obtained from this study showed that the compressive strength of geopolymer concrete compares favorably with that of conventional concrete prepared using OPC.

Dec 1, 2013

By Shigeru Tsutsumi

The rapid development of transportation facilities in Japan focused the attention of this country on the possibility of converting the existing coal resources (of which there was an abundance) into liquid fuels, for which there was a constantly increasing demand. Previous work had indicated that this could be accomplished by utilizing one of two processes - the Bergius process, in which high temperatures and high pressures were employed to effect direct liquefaction of the coal, and the Fischer-Tropsch process, in which an indirect liquefaction of coal was accomplished by the production of liquid hydro-carbons from hydrogen-carbon monoxide mixtures. This report describes some investigations into the latter process, which was first developed by Fischer and his colleagues in the Coal Laboratory in Muhlheim, Germany, in 1923. By 1932, these investigators had achieved a 60-percent theoretical yield (152 ml. of liquid hydrocarbons per cubic meter of 2H2:ICO synthesis gas) by using a precipitated Co-Th02 catalyst.3/ At the same time (1932), Dr. Kita of Kyoto Imperial University and Messrs. Fujimura and Tsuneoka obtained 145 ml. of gasoline (C5+) per cubic meter of synthetic gas by using a Co-Cu-Th-U catalyst. 4/ This report is a description of the experimental results subsequently obtained at the Fuel Research Institute, Kawaguchi City, Saitama, up to 1935.

Jan 1, 1951

By AIME

NEW YORK'S largest hotel, the Pennsylvania, will be filled with mining and oil men and metallurgists the third week of February when some 3000 AIME members, their wives, and guests will gather for the Institute's 1948 Annual Meeting-its 166th general meeting. Except for the usual Sunday afternoon and evening sessions of the Mineral Industry Education Division at the Columbia University Men's Faculty Club, the big assembly will be under one top and members will not this year have to consult compass and map to find their next session. Possibly enervated by the stupendous effort of the Anniversary Celebration last spring and the plethora of highly successful fall meetings, the various committees have been a trifle slow in arranging their social and technical programs, but in mid December as we go to press there is already much to report indicative of substantial fare and high interest. The definite timetable schedule will appear in the February M&M.

Jan 1, 1948

By T N. Little

The grade control process undertaken at mines aims to maximise the value of the ore (valuable product) mined and fed downstream for processing or sale. The full range of grade control activities includes: reserve estimating, drilling/sampling, assaying, modelling, ore block design, blasting, ore mark out, excavating, stockpiling, processing and reconciling. Over the last 25 years, the grade control process has undergone significant improvements and this is in part due to the developments in grade control blasting. This paper discusses the development and classification of grade control blasting applications in surface mining. A review by the author in 1988 (Little and van Rooyen, 1988) is used as a benchmark for discussing the very significant progress that has been made.Two major technology initiatives have enabled this development. The first was the development of a method for the measurement and analysis of total displacement during the blasting process. Currently, the Blast Movement Monitor (BMM®) is a practical tool that has been used around the world to improve the industry’s understanding of three-dimensional blast movement dynamics. The second technological enabler was the development of electronic detonator systems. The unique aspects of electronic detonating systems are their higher accuracy and that all detonators are activated at time zero (initiation). From a grade control blasting perspective these features and other improvements allow experimentation and, ultimately, more complex, multiobjective blasts to be designed and implemented.This paper reports on a classification and review study undertaken by the author. In all, five selective blasting methods and nine bulk blasting methods are classified and reviewed. Five important observations are made: there is value in classifying the range of grade control blasting strategies, and the blasting objective framework presented is helpful in this regard the range of strategies available to designers is increasing as enabling technology develops, so too do the ambitions of blast designers and the expectations of downstream customersgrade control blasting and Mine to Mill concepts are merging, and this paper caters for this trend using multiple blasting objectiveshaving a technical primary blasting objectives framework, combined with the classification system presented here, should assist practitioners and stakeholders with lateral thinking in regards to future technological innovations, grade control blasting and Mine to Mill initiatives.CITATION:Little, T N, 2015. Classification and development in grade control blasting for surface mines, in Proceedings 11th International Symposium on Rock Fragmentation by Blasting, pp 343–354 (The Australasian Institute of Mining and Metallurgy: Melbourne).

Aug 24, 2015

By Yi Luo

Bolting the mine roof is one of the noisiest underground mining operations. The main contribution to the noise is the drilling of the roof bolt holes, especially drilling in hard rock. Previous research shows that the specific energy consumed in drilling bolt holes is inversely proportional to the bite depth (i.e., penetration per drill revolution). Less specific energy at a reasonably high bite depth means less energy is wasted in the drilling process for producing heat, bit wear and noise. Therefore, proper control of the drilling operation to achieve a reasonably higher bite depth can reduce drilling noise from its sources as a proactive noise control approach. In order to explore the feasibility and develop the proactive technology for reducing drilling noise, drilling tests have been conducted in laboratory settings. The preliminary results show that significant reduction in noise dose can be achieved by drilling in medium hard rock with uniaxial compressive strength of about 276 bars (4,000 psi) and at a reasonably high bite depth of about 4.6 mm/rev (0.18 in./rev). This paper presents the findings from laboratory experimental studies.

By A. Eltringham

Operations downstream of mining and beneficiation are still being subjected to increasing scrutiny as highly capitalized projects have been either slow to achieve their targets or have actually failed to do so. Leaching and smelting projects have fundamentally high calls on capital and technology as reaction rates are increased and the capture and disposal of unwanted products are subjected to greater restrictions. Separating value from waste inherently becomes riskier as the purification of the desired product imposes greater demands on the process to produce benign wastes. When we superimpose on the chemistry of the project severe predictions of throughput rates, that bring in facets of manufacturing, we are introducing complexities that the records show are not handled well. This paper discusses some of the more common challenges that operators face and what methods are available and are likely to be successful in preventing the loss of value as projects are brought on-stream. This thinking needs to start much earlier and at greater intensity than our industry has normally chosen to employ.

Jan 1, 2011

By F. Habashi

The pioneer work on pressure hydrometallurgy was conducted in Russia at the end of the nineteenth, and the beginning of the twentieth centuries, by Karl Josef Bayer (1847-1904) and Vladimir Nikolyevitch Ipatieff (1867-1952), both working independently in Saint Petersburg. Bayer was studying pressure leaching while Ipatieff was studying the precipitation of metals and their compounds by hydrogen under pressure. Gradually, industrial applications took place first in the aluminium and later in the nickel industry. Today, the technology is well established in a large number of industries, such as uranium, gold, zinc, titanium, tungsten, and more recently copper.

Jan 1, 2004

By S. Fletcher, C. Calle, K. Constanti-Carey, R. Ruzbacky, M. D. Horne

Laboratory test-work has established that two classes of redox catalysts based on anthraquinone and bipyridinium derivatives are effective in accelerating the rate of removal of metallic iron from reduced ilmenite (RI) in the aeration step of the Becher process. Two water-soluble anthraquinone derivatives are efficient: 9,10-anthraquinone-2,6-disulfonicacid, disodium salt (catalyst AQ-2,6) and 9,10-anthraquinone-2-sulfonic acid, monosodium salt(catalyst AQ-2). When 0.2 per cent w/v of either was added during aeration the rate of metalliciron removal was accelerated by two to three times. Furthermore, the addition of either compound resulted in magnetite (Fe3O4), the iron oxide phase preferred in commercial practice, being formed. However, both AQ-2,6 and AQ-2 were rapidly lost from solution during aeration although their catalytic activities persisted even when their concentrations in solution were low(<0.05 per cent w/v). The negatively charged anthraquinones were lost from solution most probably by adsorption onto the magnetite that has a net positive charge at the pH values encountered during aeration. To address this problem, the catalytic activities of positively charged bipryridinium derivatives were tested. Two water-soluble bipyridinium compounds, paraquat (1,1’-dimethyl-4,4’-bipyridinium dichloride) and diquat (6,7 dihydrodipyrido [1,2-a:2’,1’-c] pyrazinediiumdibromide), were found to significantly accelerate the rate of removal of metallic iron from reduced ilmenite, and both gave magnetite as the oxide product in the laboratory tests. Moreover, recycle tests showed they were not lost from solution as quickly as were the anthraquinone derivatives. Results in larger scale plant laboratory reactors also showed a significant increase in aerationrates when diquat was added and magnetite was again the oxide formed. However, the oxygensupply to the reactors was insufficient to achieve the maximum effect of the catalysts on theaeration rates. The limited supply of oxygen in a full scale aerator may prevent the application ofthe catalysts in a commercial Becher operation. Keywords: Becher process, aeration, anthraquinone, bipyridinium, redox catalyst, reduced ilmenite

Jan 1, 2003

"Chairman: Professor J. Elbrond Rapporteur: Miss V. E. MartingPapers.Aids to planning production in coal mines by F. H. Deist and M. P. RobertsCapacity calculations, investment allocation and long-range production scheduling in German coal mines by F. L. WilkeOre reserve evaluation and open pit planning by J. M. Marino and J. P. SlamaThis session was devoted to the economic aspects of planning and scheduling. After Dr F. H. Deist had introduced the paper Aids to planning production in coal mines, Dr T. V. Falkie summarized the following formal contribution prepared jointly with Dr R. V. Ramani, describing the work that has been done at the Pennsylvania State University in the development of simulation programs for mine planning over the past 15 years:During the late 50&apos;s and early 60&apos;s, Monte Carlo simulators were developed to model continuous miner-shuttle car transport systems, track haulage systems, belt conveyor networks, etc. In the mid-60&apos;s attention was directed towards deterministic simulation of equipment performance, given the equipment characteristics and the system profile. In the late (10&apos;s all these systems (miners, shuttle cars, belts and trains) were integrated together to form a complete coal mine simulator and the program could predict the output potential of the system, given the mining dimensions, method and equipment employed. The actual sequence of coal-cutting operations is entered into the computer through the use of a special programming language which permits any type of mining configuration to be simulated. The simulator is hybrid in nature in that the shuttle cars, trains and belts are simulated deterministically, whereas rate functions with delay frequencies are entered for the continuous mining operations of sumping, shearing, fleeting, cleaning, etc. With suitable manipulation of the data, the program may be applied to all belt or conventional mining sections. Most of these simulators were developed through the assistance of grants from the Department of Mines and Mineral Industries of the Commonwealth of Pennsylvania and are available from the Coal Research Board of the Commonwealth,"

Jan 1, 2014

By Corby G. Anderson

Since 1985, the Sunshine Mining Company has used a patented nitric-sulfuric acid pressure leaching system for production of silver and copper from a refractory sulfide ore body. To better understand this novel process, a program of lab scale testing was undertaken to quantify the effect of system variables on silver recovery. Some of the factors studied include temperature, agitation, acidity, vessel pressure, particle size, percent solids and oxidizer amount. In turn, this knowledge will be applied in actual plant practice to upgrade reaction time, increase concentrate throughput, raise silver recovery and lower reagent costs. A discussion of plant process changes resulting from lab scale testing is included.

Jan 1, 1991

By Robert W. Yokom

As the search for new sources of energy and minerals leads to more remote areas of the country - and the world - the need to plan for adequate housing and community facilities for the construction and operations workforces and their families takes on an importance equal to the mining and processing facilities themselves. A corollary to the need for planning is the increasingly crucial need for development companies to devise effective strategies for dealing with the local communities impacted by these projects. Experience has amply demonstrated the high price to be paid for failure to learn this lesson, a price measured in lost productivity, confrontation with local communities, labor turnover, mental health and other social and eocnomic problems. In Sweetwater, Wyoming, a new industrial activity caused the population to double from 18,000 to 36,000 between 1970 and 1974. During that period industrial productivity fell 25 to 40 percent, cost overruns on the principal new industrial facility exceeded 33 percent, annual employee turnover rates climbed above 100 percent, the local mental health clinic workload increased nine times and complaints to the local law enforcement agency increased 60 percent.

Jan 1, 1981

By Arthur Mackwell

The role of the precious metals is changing rapidly. They are becoming primarily materials of modern industry, and their decorative and monetary functions are diminishing in relative importance. Certainly gold is still the premier metal for jewelry, as silver is for silverware. But these uses are not growing nearly so fast as are the uses of these metals in a variety of industries. This is even more true of the platinum metals. Moreover, this is true despite the fact that the precious metals are highly expensive and liable to substitution by the base metals in cases where this is feasible. For the fact is that the physical and chemical properties of the precious metals make them relatively invulnerable to substitution; where they can be replaced by the base metals, they have been, and the opportunity for further substitution is, therefore, limited. SILVER In November 1969 the United States Treasury stopped minting the only remaining coin with any silver content. That was the silver-clad Kennedy half dollar, which had a silver content of approximately 40%. The step was taken out of necessity, because of the rising shortfall between world mine production and consumption. It was important to divert the 35 to 40 million oz of silver per year used for the minting of this coin into the open market, where it would be available for industrial consumption. This decision was important, not only for its practical effect but also for what it symbolized. Only four years earlier, in 1965, the Treasury had used 320 million oz of silver" for the full range of coinage. Now not an ounce of silver goes into the United States coinage. The reason is simple and yet complicated. For many years the U.S. Treasury had purchased silver at prices which provided a subsidy to domestic producers. As a result, silver producers were eager to sell to the Treasury, and that agency built up a huge supply of the metal -almost 2 billion oz by- 1961. But, as the free-market price neared $1.29, the basic melt value of the coinage, the Treasury became a seller of silver, not a buyer, and its stock was depleted rapidly. The Treasury lost more :than a billion ounces of silver in the years 1962 through 1965, and it continued to lose silver, both through coinage and through sales to consumers, through 1969. The Government continued to sell silver to consumers at the rate of 1.5 million oz a week, even after terminating the 40% silver Kennedy half dollar. But it was apparent that the Government stocks could last no more

Jan 1, 1976

By William L. Young

There is an old saying in Canada: "Mines are made as much as discovered." What follows is Young&apos;s perception of his experience developing and financing the Cochrane Hill gold mine project. In 1974, I came back from rutile and zircon exploration and mining in Australia. I became interested in a copper, lead, and zinc project in the Bathurst District, New Brunswick. Much field work had already been done but I was convinced that a reinterpretation of the geophysical work left room to enlarge on the known mineralization. So, with my own money I put a property deal together, found an underwriter willing to raise $100,000, and had a lawyer produce a prospectus. The prospectus was ultimately accepted for filing by the Ontario Securities Commission and I acquired funding and began work. It did not take many drill holes to determine that the interpretation was not geologically valid. However, while drilling was going on, geophysical and geochemical explorations indicated interesting anomalous zones elsewhere on the property. But by now the base metal market climate had soured and the $50,000 I had left was not enough to evaluate the new results. So I decided to farm out the property. A data folio was produced and the property was optioned to a major mining company, with Northumberland Mines Ltd. retaining a 20% free, carried interest. By 1976, the market for junior issues was so bad no under¬writer would even talk to a geologist and I still had the $50,000 in the bank and was looking for something to initiate. A Project That Went Nowhere Market research indicated that the Toronto area imported fine calcium carbonate fillers from Georgia, Alabama, and Vermont. I was aware of the specs and the fact that there is a large marble belt in Eastern Ontario. After some prospecting, I found an interesting deposit. The product was slightly high in silica and low on brightness. Research work eliminated the silica and corrected the brightness. So, with insufficient money we launched a feasibility study. This included diamond drilling, bulk sampling, special fine grinding and air classification tests, and an in-depth market survey. Our product was as good or better than those on the market. Our advantage was that delivery could be made by a two-hour truck haul to the customer. The present system of rail delivery had many problems, especially in winter. Despite everything looking rosy, we ran into a stone wall. The underwriters were singularly unimpressed because the public saw little glamour in a substance most people had never heard of. The issue would have been difficult-if not impossible-to sell. Banks and government agencies took the position that if we could get long term take-or-pay contracts then they would lend the required capital. None of the suppliers, however, would even consider a contract until production had begun and they could evaluate the production material. It was a classic "catch 22" situation. I have gone into this in some detail to show how tough the industrial mineral market can be. We eventually optioned this calcium carbonate property to a major corporation. The option agreement would give us a free, carried 15% and the right to buy up to 40% for contributing 25% of the production costs. But the experience left my company in poor financial shape. To survive, I think the entrepreneur-geologist must always have at least one project in reserve, an emergency plan. I had been searching out a new project to work on, after the calcium carbonate option was wrapped up. It was gold. Gold intrigued me and I knew quite a bit about Nova Scotian gold. I felt that with any rise in price, many of the former high-grade gold mines would have interesting potential for the larger, low grade portions of the deposits. That is how I happened on Cochrane Hill, where much work had been done in the early 1970s when gold as $4.82/g ($150/ oz). This time my timing was good. No sooner had Northumberland signed an option agreement than gold prices started to rise. In six months, they went to $27.331g ($850/oz). Even so, financing gold prospects in early 1980 was still not easy. It had been years since gold financing had been undertaken. A whole new generation of investors, with no knowledge of gold mining, had grown up. So, with accounting and legal council, we decided on a semiprivate "seed money" offering. Under the new Ontario Securities Act, this was a new-and partly tax sheltered-concept. At the time, it was very innovative.

Jan 6, 1982