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Jan 1, 1946

By Louis A. Panek

MOST roof bolts are used in mines with bedded roofs, but it has not been determined to what degree thin-bedded roofs can be reinforced by bolting if there is no thick member in which to anchor the bolts, or what function the bolts must perform in such a case. Owing to widespread practice of sys- tematic bolting to support thin-bedded roofs, moreover, it is desirable to design roof-bolting systems on a quantitative basis. Specifically, a solution to the following problem is required: For a roof composed of beds of given thickness and physical properties, what is the optimum length, spacing, orientation, and tightness of bolts consistent with safety and economy? The investigation reviewed here has produced a functional equation to evaluate these variables and establish basic principles of roof bolting.

Jan 1, 1956

By Leroy U. Gardner

The human respiratory tract is an apparatus for the interchange of gases between the air and the blood. An important part of it are mechanisms to prevent the apparatus from becoming clogged with dust particles that are inhaled with the air. These mechanisms are adequate to protect the organ against most dusts, but silica and at least one of the silicates, asbestos, are tissue poisons which initiate changes in the connective tissues of the lung, incompatible with function. Silica is concentrated by the phagocytes in contact with the connective tissues of the lymphatic drainage system. An overgrowth of connective tissue occurs which interferes with the function of this system. More dust that may be inhaled can no longer be effectively eliminated from the lung. It accumulates in the functioning part of the organ and excites the formation of characteristic fibrous nodules and bands. These changes seriously impair the respiratory function. The shadows of such changes cast upon an X-ray film of the lung are discussed. The reaction to silica in the lung produces a marked increased susceptibility to tuberculous infection. It can be reproduced and studied in the experimental animal and has been observed repeatedly in human beings. Asbestos dust also causes fibrosis in the lungs but the mechanism of its development is different. The fibrous dust settles along the irregular walls of the terminal bronchioles. In this location it excites the formation of cuffs of scar tissue. This contracts and shuts down the tubes, resulting in a collapse of the air spaces distal to the obstruction. Such a condition in itself is a cause of fibrosis. The two causes, immediate reaction to the dust and collapse of the finer air spaces, bring about a generalized diffuse fibrosis. This reaction is not so regularly associated with increased susceptibility to tuberculosis as with silicosis. The case against sericite as a cause of silicosis has not been proved. Experimentally, sericite-free quartz will produce nodular fibrosis. Silicon carbide and aluminum oxide are quite inert in the normal animals. The former apparently increases susceptibility to tuberculosis in animals but whether the same is true in human beings awaits demonstration.

Jan 1, 1934

By Rossiter W. Raymond

THE most important event in the history of mining in the United States was the discovery of gold in California, which led to the rapid development, not only of a new industry, but of a new empire. The settlement of the Pacific slope was making but slow progress under the inducements of a scanty commerce in furs and hides. The liberal grants offered by the government to agricultural pioneers in Oregon had attracted to the Willamette valley and other favored points in that territory a limited population; but the government of the Mexicans in California was positively unfavorable to enterprise. It is true that gold was known to exist in the country. Rumors of it were current among the trappers, and placers had actually been worked in what is now Los Angeles County ; but the padres of the neighboring mission of San Fernando had discouraged the business as demoralizing to their flocks ; and the existence of the precious metal was not widely known; still less was its distribution north¬ward suspected. The discovery of gold, January 19th, 1848, at Sutter's saw-mill, on the south fork of the American River, afterward famous as Coloma, in Eldorado County, was the beginning of the new epoch. This discovery was made by James Wilson Marshall, a partner in the mill, who observed in the debris washed down by the tail-race a glittering fragment of a mineral unknown to him. Suspecting it to be gold, he sought for further specimens, and obtained, in the course of a few days, several ounces of it. Tests subsequently

Jan 1, 1875

By Rossiter W. Raymond

The most important event in the history of mining in the United States was the discovery of gold in California, which led to the rapid development, not only of a new industry, but of a new empire. The settlement of the Pacific slope was making but slow progress under the inducements of a scanty commerce in furs and hides. The liberal grants offered by the government to agricultural pioneers in Oregon had attracted to the Willamette valley and other favored points in that territory a limited population; hot the government of the Mexicans in California was positively unfavorable to enterprise. It is true that gold was known to exist in the country. Rumors of it were current among the trappers, and placers had actually been worked in what is now Los Angeles County; but the padres of the neighboring mission of San Fernando had discouraged the business as demoralizing to their flocks; and the existence of the precious metal was not widely known; still less was its distribution northward suspected. The discovery of gold, January 19th) 1848, at Sutter's saw-mill, on the south fork of the American River, afterward famous as Coloma, in Eldorado County, was the beginning of the new epoch. This discovery was made by James Wilson Marshall, a partner in the mill, who observed in the debris washed down by the tail-race a glittering fragment of a mineral unknown to him. Suspecting it to be gold, he sought for further specimens, and obtained, in the course of a few days, several ounces of it. Tests subsequently

By John C. Robison

INTRODUCTION Sensitivity analysis is a means of gauging the impact of individual risks on a financing. Key risks can occur in three time periods: - Feasibility, engineering and construction phase; - Start up phase (usually through completion); - Operating phase (post completion). If a company has agreed to cover these risks prior to completion, then less attention will be paid to the sensitivity of the project in the first two time periods. Since the operating phase of the project generates cash for both operations and debt service and generally does not begin until two to six years after the loan is signed, it is wise to look at scenarios other than the projected "base-case" scenario in order to determine the project's capability to operate successfully under a broad range of probable future events. Lenders are compensated at a fixed spread over their borrowing base and generally are not compensated if the project is successful beyond expectation. They are also subject to the loss of principal plus funding costs if the project performs below expectation. Because of this, lenders establish sensitivities around the parameters of conservative projections developed in the project feasibility studies and the cash flows resulting from these projections. The initial cash flow projections should demonstrate the project's ability to meet cash costs, debt service requirements (principal and interest), and still have sufficient cushion to cover contingencies such as strikes, price fluctuations, force majeur situations, etc. (See Schreiber, Chapter 10). The selection of the level of sensitivity analysis to be performed is the result of both objective criteria, including probabilistic analysis applied to the technical parameters, and, of equal importance, subjective criteria applied by the analysts, especially with regard to the economic and financial parameters impacting the project cash flows. RISK SENSITIVITY Assumptions used in the cash flow projections should be realistic. Risks identified by the lenders should be identified and cash flows prepared to assess whether these project risks are acceptable. Typical project risks include the following (see also Chapter 9): - Sufficient reserves - quantity and quality - Product price - Production level - Operating costs - Availability of energy and supplies - Transportation and infrastructure requirements and costs - Interest rate - Completion risks - Tax level - Political risks - Cost over-run risks - Operator experience - Management - Technological risks - Environmental permits and risks - Foreign exchange risks - Insurance coverage - Equity of sponsors - Inflation rate - Capital expenditure during project life In order to see the effect on the cash flow projections, each risk should be analyzed for its impact on the cash flow generating capacity of the project. Sensitivities can be examined to see if the resultant cash flow projection will meet the lenders minimum credit standards. 1.Reserve Sensitivity In general, lenders will not assume the reserve risk. However, it should also be noted that lenders receive loan proposals in which reserves range anywhere from proven to possible. Sensitivities are not generally run for various reserve levels and reserve estimates are either considered acceptable or not acceptable by the lenders.

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