Word: uranium
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...message on health, just as Economic Adviser Arthur Burns deposited a stack of data for the annual economic report. More than 175 reporters showed up at the presidential press conference, threw questions that ranged from the nature of Wolf Ladejinsky's past to the price of uranium in the future. At every opportunity, Democraticos lobbed in test grenades for 1956. But the man in the White House seemed to be enjoying his job more than he ever had before...
Shepherd mixed some coal, a good uranium concentrator, with the sand in one of the oil-well filters. When he sent the filter coal to the Atomic Energy Commission after a few weeks, he got the report that it was several times as rich in uranium as the sand. Shepherd then took some shallow-core samples of the rock in one section of Nowata County and shipped them off to AEC. The assays showed a uranium content well above the lowest commercial grade...
...himself, Shepherd began buying leases and options on land in Nowata County and started negotiations to buy from Whitehill Oil Corp. several thousand acres where he had found radioactive filters. But two weeks ago that deal fell through. Reason: Climax Molybdenum Co., one of the nation's biggest uranium producers, bought Whitehill-and rumors started running around Wall Street of a big uranium find. In a declining market (see below), Climax stock scooted up six points, to 63¾. Climax, which already has an active waterflood oil division, insisted that it bought Whitehill only...
Climax acted fast. It flew one of its top uranium geologists out to Nowata, and hired a fleet of "gamma" trucks to scout the area. Reported Climax: some of its oilwell filters were indeed radioactive. But on the basis of its gamma reports and the general geology of the Nowata area, the company did not believe that there was any uranium lode on its land. It speculated that the uranium, spread throughout the oilfields in small quantities in the rock, was leached out by the water and deposited in the filters...
Patent Pending. At week's end, nobody knew how much uranium was in Nowata County-or whether Sam Shepherd might have discovered a practical method of mining uranium by waterflood and filter. Others have tried such a process before-and failed. But it has never been tried as a byproduct of another operation, such as oil producing, that already pays the basic costs. In any case, Shepherd has applied for a patent on his method and is getting ready to ship about ten tons of filter sand from his holdings to AEC for processing...