Word: anaconda
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BIGGEST URANIUM MINE in the U.S. is being developed by Anaconda Copper on the Laguna Indian reservation in New Mexico. AEC says that Anaconda's Jackpile Mine is the first multimillion-ton deposit to be found in the U.S. Reserves are estimated at 5,000,000 tons or more...
...frantic buying of penny stocks. The boom then was founded on paper claims and hope; now the penny-stock companies are merging, or being taken over by companies with enough capital to start mining. At least 20 of the nation's biggest mining companies, e.g.. Phelps Dodge, Anaconda Copper, Climax Molybdenum and Vanadium Corp. of America, were looking over companies with promising claims. Thus out-of-town investors, who hooted at uranium stocks nine months ago, have changed their tune. Now three of every four orders come from outside the city...
...Near Spur, Texas, the four sons of Mrs. T. E. McArthur dug up 30 tons of sandstone outcropping on their mother's ranch, shipped them to Anaconda Copper's uranium mill at Bluewater, N.Mex., and got the report that they had found Texas' first commercial ore. The McArthur boys, busily shoveling up more ore, reported last week: "The deeper we go, the hotter it gets . . . This shipment is going to average out at 2%," i.e., ten times minimum commercial grade...
...Near Tucumcari, N.Mex., Anaconda Copper, Gulf Oil and others were in the field, and the county recorder's office was swamped with 75 new claims in two days, following an Atomic Energy Commission announcement that a radioactive area had been discovered...
That knowledge and confidence sent stock prices soaring all through the year. Spectacular gains were scored throughout the list, e.g., General Motors went from 60 to 98;* Jersey Standard from 72 to 111; RCA from 23 to 38; Du Pont from 107 to 167; Anaconda from 30 to 52. As a group, the biggest rise (an average of 165%) came in the order-laden aircraft stocks. Taking into account splits, Douglas started at 83, rose 177 points (it gained 34 points in the last two weeks alone); Boeing started at 49 and rose 99 points; Northrop started at 18, gained...