Word: ores
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Dates: during 1950-1959
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...near a crumbling ridge when he noticed that his Scintillometer was not registering properly. He thought it was out of order. But when he walked away from the rock the needle moved again. Then the light dawned. Says he: "I was sitting on a solid chunk of uranium ore." Pick, figuring it had rolled down from the cliff above him, scrambled up the rock face, chipping off pieces of rock as he went: "It was all beautiful yellow-orange-colored ore." He staked out a claim and then, to save his feet, fashioned a crude raft to carry him downriver...
After filing his claim papers at Grand Junction, he put up his truck and trailers as collateral, to borrow enough from Grand Junction banks to buy a jeep and rent a bulldozer. Then he built a rough twelve-mile road into his property and started to mine uranium ore. He soon proved up 300,000 tons of uranium ore, one of the richest finds in the Colorado plateau...
Pick will stay on as chief executive officer of the mine, while Atlas will set up a subsidiary to get the property into big-scale production. At present Pick is digging out 1,500 tons of ore a month and selling it to the AEC at a clear profit of $32 a ton. Odium soon hopes to step that up to 10,000 tons a month. Said he: "Uranium is the oil of tomorrow, and tomorrow isn't very far away...
...claim, named it Mary Kathleen after McConachie's wife, who had died ten days before. As word of the strike hit the newspapers, 14 companies began bidding for the lease. It looked like Australia's richest strike to date, with an estimated 1,350,000 tons of ore worth upwards of $20 million...
Last week the syndicate of amateur prospectors closed a deal, sold out to Australasian Oil Exploration, Ltd. for a reported $562,500 in cash, plus a 20% interest in a new company formed to mine the area, and 5% of the gross proceeds of the ore...