Word: uranium
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...uranium boom on the Colorado Plateau has spawned another crop of big rich, led by Vernon Pick, who sold his uranium mine to Floyd Odium's Atlas Corp. for $9,000,000 (75% of which Pick kept under capital gains), and Charles Steen, whose Utex Exploration Co. (90% owned by Steen) has an estimated $150 million worth of uranium underground. Hollywood's high-paid stars, who by tradition blow their wealth on caviar and Cadillacs, have also learned how to join the ranks of the new millionaires. Bing Crosby, for example, was able to buy 20,000 shares...
...down the mountain and freight it to the processing plant at Salt Lake City. After three anxious weeks, Fred heard from the AEC. In the envelope were two $6,000 checks and a top-grade assay. Fred's mine was a vein deposit of high-grade uranium ore (only one other major vein deposit-in Marysvale, Utah-is producing...
...There First. Last week, after a year of production, Fred Schwartzwalder, 58, was a rich man. His uranium had already brought him $125,000, and there was a lot more in old Indian Head. "There are a good many thousands of tons of proven ore in that mine," says Fred, "and the prospect of a lot more. I'm conservative, too. The AEC calls me the 'front-range pessimist' because I'm careful about the estimates." The AEC agreed. "Schwartzwalder has found one of the most significant hydrothermal-type deposits in the U.S.," said an official...
...interested in the history of their species. It happened on Dec. 2, 1942, in a squash court under the stands of the University of Chicago's football stadium. An international group of physicists watched with some apprehension a massive, dead-black structure of graphite bricks with uranium spotted through it. Fermi was in charge. His discoveries in Italy about neutron behavior (which won him the Nobel Prize in 1938) had laid the "pile's" scientific foundations. His development work in the U.S. had built it out of theory. Now the pile was ready to go. The watchers knew...
MADAGASCAR URANIUM boom has the Paris stock market soaring. Two companies (Minerals de la Grande He, Fonciere du Sud de Madagascar) are now shipping refined ore to France from deposits discovered in 1952, estimate that production will climb from 15 to 200 tons by next year. On the Paris market, Minerals stock has zoomed from $9 to $122 a share since January...