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By Peter Grandstone, D. A. Jessup, D. B. Taliaferro

"INTRODUCTION Water flooding of oil sands in Texas as a means of secondary recovery of oil has been practiced mainly in the north-central part of the State, which includes the old shallow fields in eight counties, extending south through Wichita and Clay Counties on the Red River into Brown County.The Texas Railroad Commission, is empowered ""to promote conservation and prevent waste in the drilling, completion, operation, and abandonment of oil wells"" and ""to issue regulations necessary for fulfillment of these ends,"" granted The Texas Co. the first permit to inject water into the oil-bearing sand on December 7, 1935. The permit was granted after the Commission had conducted a number of hearings, which were attended by many operators interested in that method of secondary recovery. Through December 31, 1944, the Commission had granted 50 permits for water flooding. Of that number, 45 permits were issued for projects in north Texas, the remaining 14 being distributed throughout west and south Texas. By the end of 1944, there were 33 active and 5 abandoned water-flooding projects in the North Texas area, as is in figure I.Oil production in the North Texas area started in 1904 from the shallow sands (ranging from 100 feet to 800 feet in depth) of the Petrolia (or Henrietta) field in northern Clay County. Development was rapid and unrestricted during the boom period from about 1911 to 1918, and considerable waste of both produced oil and reservoir energy resulted."

Jul 1, 1946

By Jamie Bonner, Ray Hutton, Taro Nonaka

The Nancy Creek Tunnel is a deep tunnel, designed to store and convey wastewater by diverting flows from trunk sewers currently at or near capacity in the northwest of the City of Atlanta. The tunnel, constructed in hard rock, has an overall length of 13,300 m (43,700 ft), and a finished diameter of 4.9 m (16 ft). The project is currently under construction by a joint venture of Obayashi/CJB for the City’s Department of Watershed Management. This paper describes the contractor’s techniques and equipment, as well as discussing challenges which were overcome. The project is scheduled to be complete in October 2005.

Jan 1, 2005

By J L. Maule, S J. Mathews, K A. Rodgers

Gold and Silver bearing epithermal veins of the Golden Cross deposit are hosted in Miocene and Pliocene calc-alkaline volcanics occurring 8 km northwest of Waihi at the southern extent of the Coromandel Peninsula, North Island, New Zealand. Veining occurred during a period of hydrothermal activity that began early to late Pliocene, and possibly continued into the Pleistocene.   Field relations and petrographic relationships reveal that multiple generations of FeS2 occur in the Golden Cross region, with FeS2 occurring in all nine rock types recognised at Golden Cross. The variability of FeS2 morphology was investigated by preparation of high purity FeS2 separates, and grain counting. Marcasite is the dominant FeS2 phase at Golden Cross, and along with pyrite is shown to have a systematic habit variation. Pyrite shows a sequence from cubes through octahedra to pyritohedra to dendritic growth. This pyrite sequence conforms to an experimentally determined sequence. The parallel sequence for marcasite at Golden Cross is from tabular through bladed aggregates to euhedral miscellaneous marcasite morphologies. The FeS2 sequences observed are believed to be due to increasing temperature, and perhaps also increasing FeS2-oversaturation and fluid flow.

Jan 1, 1994

By Eldon K. Stanek

The material presented in this chapter is a review of the work done during the period from June 23, 1972 to June 22, 1973 which was reported in detail in the first annual report for Grant No. 60122088 which was submitted on June 29, 1973. This report has appeared in the National Technical Information Service as bulletin number PB230 972/AS. 1.2 ANALYTICAL PREDICTIONS OF INDUCED VOLTAGES AND CURRENTS The basic building block in this analytical work is the development of an equivalent circuit. The equivalent circuit for the cable depends on all of the distributed parameters of the cable, although the series inductance and resistance are of primary importance. The cable resistances are generally available from handbooks or from cable manufacturers. On the other hand, the cable inductances are not usually available from either handbooks or the manufacturer's published data. Thus, it is useful to present the results of the derivation of the inductance matrix and a few intermediate steps.

Jan 1, 1975

By S. Vorberg, J. Preussner, B. Fischer, U. Glatzel, R. Völkl, M. Wenderoth

Pt-Al-X alloys have shown good mechanical properties and adequate oxidation resistance. Starting from a promising Pt-Al-Cr alloy, the influence of Ni additions was investigated. After ageing finely dispersed precipitates are observed. Nb, Ta, Ti and Re increase strength when added as partial substitute for Al. Minor additions of B increase creep resistance and rupture time remarkably, owing to strengthening of the grain boundaries. The evolution of the alloy development programme as well as selected properties of the multi-component Pt-base alloys are presented.

Jan 1, 2006

By A Horne, Z Graszkiewicz, D Dettrick, R Evan, B Neal

"Most of VictoriaÆs rivers and aquifers are already fully allocated or reaching full allocation. In regions without a well-established water market, access to water entitlements to facilitate new development is limited. In areas with established water markets, mine developers face an undue cost burden in circumstances where they are only planning to consume a fraction of the water entitlements that they purchase. The challenge for water managers is to ensure protection of water resources and other water users without creating an unnecessary disincentive for those types of developments that return most of the water that they take from water sources. The opportunity for development of a mine is explicitly linked to a particular location and must be developed where a resource is located or it cannot be exploited at all. Regulatory arrangements that facilitate development may have a positive impact on economic development, particularly where water availability is a potentially limiting factor. Net volume licensing has the potential to allow increased economic outcomes through improved licensing of access to water. Net volume licensing differs from traditional water licensing in that it authorises access to water on the basis of ænet useÆ rather than æthe gross volume takenÆ. This paper asks under what conditions net volume licensing is likely to be feasible and effective. In particular, the paper examines the information and accuracy requirements to allow net volume licensing decisions to be made. This work is based around five case studies in Victoria that were used to examine the potential for net volume licensing for mines and quarries. Assessing a potential net volume licensing arrangement requires the regulating authority to have an understanding of the inputs and outputs of water to a site. In contrast, assessment of take and use licences consider only a single input. It was concluded that the conditions that lend themselves to net volume licensing include: well understood water inputs and outputs, including appropriate accuracy of information where the location of site water inputs and outputs are the same where the timing of extraction and discharge can be managed to minimise impact on the water resource.A key remaining challenge is establishing an accounting framework that allows net volume licensing under current water resource limits. CITATION:Graszkiewicz, Z, Horne, A, Neal, B, Evan, R and Dettrick, D, 2013. The practicalities of implementing net volume licensing of water use in mines and quarries - a discussion based on Victorian case studies, in Proceedings Water in Mining 2013, pp 241-250 (The Australasian Institute of Mining and Metallurgy: Melbourne)."

Nov 26, 2013

By H. R. Appell

The Bureau of Mines is experimentally converting cellulose, the chief constituent of organic solid waste, to a low-sulfur oil, All types of cellulosic wastes, including urban refuse, agricultural wastes, sewage sludge, wood, lignin, and bovine manure, have been converted to oil by reaction with carbon monoxide and water at temperatures of 350° to 400° C and pressures near 4,000 psig, and in the presence of various catalysts and solvents, Cellulose conversions of 90 percent and better (corresponding to oil yields of 40 to 50 percent) have been obtained. A continuous reactor for use at maximum conditions up to 500° C and 5,000 psig has been operated successfully, Using sucrose as a feedstock, operation in this system has permitted a simplified and preliminary chemical study of the conversion process. Oil yields of over 30 percent have been obtained with this unit.

Jan 1, 1971

By S. Kivrak

The firms in construction industry could not sufficiently adapt the rapidly emerging information technologies in recent years into their corporate structures. Therefore, in an effort to further exploit the benefits of information technology (IT), integration of the experiences and backgrounds of construction industry and the advantages of IT, is one of the most open-ended fields for improvement in this industry. Utilization of IT in the construction sites will positively affect the efficiency, productivity, quality and health & safety issues in the construction sites thus the cost and completion time of the projects. Within this context, augmented reality technology, which brings a new perspective into IT, can be put into the service of construction industry. Augmented reality which has been designed to improve the services in many application domains such as school education, military warfare, military trainings, industrial maintenance, retail and medical, can be defined in the simplest form as augmenting the real world with information from the virtual world. The main aim of this study, which presents an overview of an ongoing project, is to develop an innovative method by making a construction worker, foreman, equipment operator or a site engineer watch a very comprehensive and informative animation which will enable the said staff to perform or supervise all the phases of the activity he or she is in charge for in a more efficient, productive, safer and qualified manner by means of smart glasses using augmented reality systems. In this respect, training material related with the activities in the construction sites will be prepared and with a well-fictionalized scenario, animations exhibiting all the phases and details regarding the related activity (e.g. masonry, formwork and rebar works etc.), method of statement, correct and incorrect applications in comparison-wise manner, will be produced. Therefore, the user will be able to reach the training material, method statements etc. in the animations about the activity he or she is in charge for, enabling him or her to figure out the work as prescribed in the specifications. Basic trainings about the system will be given to target group, i.e. construction workers, foremen, operators, site engineers and managers working in the construction sites to apply the system on sites after all the system was tested. After the testings, to determine the effectiveness of this system, semi-structured interviews and survey questionnaires will be conducted among the mentioned target group. Therefore, the potential benefits of this system to the construction industry can be determined. The main target of this study is to implement an efficient, thorough construction management by orienting the staff in the construction sites to perform efficient, safe and qualified works by means of smart glasses that use augmented reality. There are relatively few studies about the implementations of augmented reality technology in construction. The outputs to be attained in the end of the study have the potential of improvement of time, cost, quality and safety parameters by ensuring a qualified, safe, efficient and productive construction management via augmented reality technology in the construction industry.

Aug 1, 2013

By A. G. Allten

EXAMINATION by metallographic and X-ray diffraction means of an austenitic steel containing 0.06 pct C, 1.26 pct Mn, 0.38 pct Si, 21.15 pct Ni, 18.72 pct Cr, 3.07 pet W, and 9.14 pet Mo indicated that a - phase, which had not been reported in the literature, existed in this steel. Both the s and car-bides of the M6 C type were present in the as-forged steel. The carbides dissolved completely in the aus-tenite at approximately 2200°F (1205°C). The s, however, was present at all temperatures up to the solidus temperature of the steel at approximately 2375°F (1300°C). Ferrite was not found in any condition of the steel. The faintness of some of the s lines in X-ray patterns obtained from samples of the steel made it desirable to isolate the s prior to verification of its entire pattern. It was found that the s phase could be separated from samples of the steel which had been water quenched from 2250°F (1230°C) by dis-

Jan 1, 1955

By Walter Fuchs

IT is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established .R3 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2:I for the combined effect of both factors, as compared to the exclusive effect of either one, if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. SYNOPSIS OF BIOLOGICAL AND CHEMICAL FACTS The biosphere is not sterile; i.e., microorganisms are always present. Microorganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life-proteins, fats, carbohydrates, lignins, waxes, resinsmay serve as a habitat of microorganisms. In the decomposition of a medium, some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate.17,32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1941

By Walter Fuchs

IT is now generally conceded that coal is the product of deposition and transformation of debris of forests and swamps.29 Ample data are available to illustrate the metamorphosis of biochemical substances through biological action; other data show the progressive regional metamorphism existing in coal beds ;25 and numerous examples of change effected by intrusion of igneous dikes into coal deposits have been established.23 However, often the relative importance of the biological and the geological factor in determining the character of the various natural coals is a debatable question. Since both biological and geological factors are ever present in nature, the problem, at first glance, would appear to resemble certain probability problems: specifically the simultaneous toss of two coins, with the biological factor as heads and the geological as tails. The probability is 2 : I for the combined effect of both factors, as compared to the exclusive effect of either one, if the a priori probability is the same for each factor. This condition can be analyzed by a thermodynamic treatment of data, which may be obtained from a consideration of pertinent biological, chemical, geophysical and geological facts. SYNOPSIS OF BIOLOGICAL AND CHEMICAL FACTS The biosphere is not sterile; i.e., microorganisms are always present. Microorganisms have been established in the ocean deep, under the ice of the polar regions, in the sand of the deserts, and in swamps far below the surface. The various biological media may be acid, neutral, or alkaline, and they may or may not be readily accessible to air. Microorganisms are encountered almost everywhere, except where the temperature is not within the range tolerable by microbial life. Of course, with changing conditions, the type of microorganisms will change. All chemical products of life-proteins, fats, carbohydrates, lignins, waxes, resins may serve as a habitat of microorganisms. In the decomposition of a medium. some microorganisms macerate organic matter mechanically and remove certain constituents for their own nutrition; others decompose a large part of the organic matter but may leave certain constituents undecomposed. Some attack only certain specific ingredients of the organic matter. All of them build up cell substance. The nitrogen content of the medium largely determines the degree of decomposition. Below 1.7 per cent nitrogen, growth of microorganisms and hence decomposition of organic material is retarded; consequently organic material will accumulate.17, 32 Such accumulations of organic material may give coal eventually. Coals differ in type and rank. The nature of the original vegetation and the conditions attending the transformation of the accumulated debris determine the type of coal such as bright, splint, cannel, and algal or boghead coals. Chemical analysis of representative samples of a given type of

Jan 1, 1941

By D Lautier, A A. Ndiaye, A Galli

Traditionally gold producers had built up hedge books to protect themselves against adverse changes in the commodity price, but diversified mining groups were staunchly opposed to hedging in any shape or form. The situation has evolved over the past few years. Gold miners have been reducing the size of their hedge books in line with the rising gold price. Commentators have talked about ædouble-digit dehedgingÆ and have suggested that this is the final countdown for gold hedge books. It sounded as if the era of hedging by mining companies was drawing to a close. But as appearances can sometimes be misleading, we decided to find out what mining companies were actually doing. Companies listed on stock exchanges are now obliged to give details of their derivatives holdings in their annual reports. Two or three years ago there was no such obligation. Our reality check was based on the latest annual report issued by three multinational mining groups; two with diametrically opposed views on hedging (Rio Tinto and Barrick) and the third (BHP Billiton) with an intermediate position. This snapshot of their derivative positions at a point in time revealed that Barrick and BHP Billiton have substantial derivatives positions (worth billions of dollars) to protect against adverse changes in foreign exchange rates and interest rates. Moreover Barrick has recently started hedging against increases in fuel prices. Despite its opposition to hedging, Rio Tinto has derivative positions worth several hundred million dollars, but these are primarily a legacy from various mergers and acquisitions over recent years or were entered into as a condition of project financing. Lastly we were surprised to discover that Barrick was holding asset-backed commercial paper (ABCP). So the idea that mining companies donÆt hedge their risks is just another urban myth.

Jan 1, 2009

By G. J. Hasenfus

This paper presents the results of an extensive hydrological and geomechanical monitoring program which Gas conducted at a longwall coal mine in W. Va. The field program included monitoring of groundwater levels. overburden hydraulic conductivity, overburden movement, and surface subsidence relative to the passage of the longwall. Overburden geology and rock strength characteristics were evaluated prior to mining. A postmining corehole was drilled to evaluate main roof fracturing. An overburden response model is proposed based on the correlations between hydrological and geomechanical data.

Jan 1, 1988

This Bureau of Mines report is a reference manual of procedures used by the Bureau's Twin Cities Mining Research Center for obtaining rock properties. Included in the report are discussions on the usage of each property, descriptions of the general test methods for obtaining the properties, and instructions for performing the tests. The Instructions embrace details of the specimen configuration, test apparatus, test procedure, test conditions, and calculations needed to achieve satisfactory results. Although the procedures presented in this reference manual generally conform to recommendations of the ASTM Administrative Committee on Standards, they are not purported to be standards.

Jan 1, 1974

By Scott G. Britton

Microcomputeranalysis has long been a technique for engineering professionals to improve the theoretical and practical design of continuous mining systems. Such work has been typically composed of modeling observed events and then introducing a variety of known elements with predicted results to compare against the results of the model. Programs written in BASIC, Cobol, Fortran or other language dominated such efforts. These programs have taken years to develop and prove out. This article explores a new management tool used daily at Tanoma Mining Co. (TMC) to track and improve continuous mining systems through the use of microcomputers and Lotus l-2-3 software. Data provided by section foreman, shift foreman, and maintenance personnel are analyzed against predetermined goals. In this way, new production targets are developed, weaknesses in the current mining systems are identified, and the results of changes are measured. The current results of this system on the productive output of TMC systems is on the order of 10% improvement. Thin seam coal mining is an industry within the broader industry of coal mining. Thin seam mining faces the same cost pressures and engineering problems as its higher-seam competitors without the advantages of moving volume per foot of extracted material to stay at an economic parity with others requires additional creativity within the management teams to extract higher productivity gains from the existing workforce and mining systems. TMC operates a deep mine in Indiana bounty, PA, about one hour northeast of Pittsburgh.

Jan 1, 1991

By John W. Bell

A FEW years ago the writer had the privilege of examining a piece of apparatus in the Forest Products Laboratory of McGill University which engaged his attention. The Forest Products Laboratory has an excellent installation of wood-grinding machinery, and the officials in charge were naturally interested in acquiring means for estimating the fineness of various wood grinds. The problem was referred to Dr. O. Maass ( l ). Dr. Maass designed a piece of equipment to measure the surface of a wood grind and derived an equation applicable in calculating its value, as follows : After inspecting this apparatus, the writer was disposed to believe that, with some modifications, Dr. Maass' ingenious idea might be utilized to measure the surface of mineral powders. Obviously, some difficulty would be found in maintaining an even suspension of mineral particles of high specific gravity compared to that of wood pulp. The writer will not bore the reader with a description of the various machines built and tried out. Some of these were satisfactory enough to obtain some valuable information, and to bring to light a difficulty which threatened to bring the investigation to an abrupt ending. For the mineral quartz, it was found that Kin the formula above stated was not a constant.

Jan 1, 1944

By A. C. Fieldner, SIDNEY GOTTLIEB

This report summarizes the research and technologic work of the Bureau of Mines on coal and coal products from July 1, 1947, to July 1, 1948. It is the thirteenth of a series presenting resumes based largely upon publications issued during the year . In some instances , research and testing results , not otherwise available in published form , are presented . The individual publications given as footnote references herein will provide further detail to the interested reader . The period covered by this report was marked by an ever -mounting concern for the adequacy of the Nation's fuel resources and for fuel shortages arising from an increasing demand for fuels at home and abroad . Several reports appeared which delineated the place of synthetic liquid fuels in the future fuel technology and economy of the Nation , emphasized the fact that eventually the principal raw material for the production of such fuels will bet,5,6 coal, and described the progress made by the Bureau of Mines in developing processes for the production of synthetic liquid fuels . heard testimony along similar lines . Increased awareness of the fuels problems confronting the Nation led to an authorization by the 80th Congress for the erection of an anthracite research laboratory at Schuylkill Haven , Pa . , to house expanded Bureau of Mines research on anthracite . Design of the structure was well under way by the end of the fiscal year . ( See fig . 1. ) Looking forward to expansion of Bureau research on lignite , the 80th Congress heard testimony on the problems and programs of lignite research10, 11 as a prelude to authorizing the construction of a lignite research laboratory in North Dakota .

Aug 1, 1949

By Robert H. Leach, C. H. Chatfield

This paper gives a brief summary of the process of manufacture of sterling silver, and some of its more important physical properties, as observed in conlmercial production of rolled sheet and wire. Although papers have been published by Turner and Smith,1 Rose,2 Sperry3 and Jordaq4 there are few technical data available, and unfortunately the time allowed for the preparation of this paper has not been sufficient to make it as comprehensive as the title might indicate. Analysis of Steeling Silver Fine or pure silver is too soft for coinage and the manufacture of articles in which strength and resistance to wear are desired. From the earliest times of which we have record, copper has been the metal generally used to harden silver. Analyses of coins and silver articles from ancient tombs show varying amounts of copper, and old Roman silver objects in the British Museum have approximately the same ana,lysis as our sterling. The first authentic record of the establishment of a standard alloy is during the reign of Henry I1 in England. During the twelfth and thirteenth centuries, the people in the Eastern Provinces of Germany had a reputation for the standard and purity of their silver coinage, and it is said that Henry II employed some of these Easterlings, as they were called, to improve and standardize the English coinage, which had become debased. The peculiar standard adopted is probably accounted for by the system of weights used. A troy pound contains

By Robert H. Leach, C. H. Chatfield

THIS paper gives a brief summary of the process of manufacture of sterling silver, and some of its more important physical properties, as observed in commercial production of rolled sheet and wire. Although papers have been published by Turner and Smith,1 Rose,2 Sperry3 and Jordan,4 there are few technical data available, and unfortunately the time allowed for the preparation of this paper has not been sufficient to make it as comprehensive as the title might indicate. ANALYSIS OF STERLING SILVER Fine or pure silver is too soft for coinage and the manufacture of articles in which strength and resistance to wear are desired. From the earliest times of which we have record, copper has been the metal generally used to harden silver. Analyses of coins and silver articles from ancient tombs show varying amounts of copper, and old Roman silver objects in the British Museum have approximately the same analysis as our sterling. The first authentic record of the establishment of a stand¬ard alloy is during the reign of Henry II in England. During the twelfth and thirteenth centuries, the people in the Eastern Provinces of Germany had a reputation for the standard and purity of their silver coinage, and it is said that Henry II employed some of these Easterlings, as they were called, to improve and standardize the English coinage, which had become debased. The peculiar standard adopted is probably accounted for by the system of weights used. A troy pound contains

Jan 1, 1928

By John K. Gustafson

The title of my talk is "The Gold Miner and the Future of Gold." This title might just as accurately have been stated as "Gold and the Future of the Gold Miner." Since prehistoric times gold has been sought by mankind for its beauty and its unusual physical and chemical properties. Early in the dawn of civilization it became the ultimate unit of value and lubricated trade between peoples. For at least 6000 years, gold has been used to barter for other commodities. It has been prospected for, treasured, made into works of art and personal adornment, and from time to time has been the object of conquest. Because of its predominant role in recent centuries as a basis for money, economists began to think of it solely in these terms. Annoyed by the disciplinary pressure of gold on the money manager's desire to manipulate money, the famous economist, John Maynard Keynes, characterized it as a "barbaric relic of the past", a characterization repeated by William McChesney Martin, Jr., when he was head of the Federal Reserve Bank. Gold, however, has physical and chemical properties that make it one of the most useful metals in the modern world.' It is the most ductile metal known. An ounce of gold, for example, can be drawn into a continuous wire over 35 miles long. It also is so malleable that an ounce of gold can be beaten into films ten one-millionths of an inch thick sufficient to cover 68 sq ft of surface. It has a density of 19.3 and is so heavy that 1 cu ft of gold weighs more than half a ton. Gold is nonmagnetic and has a high electric conductivity, only slightly less than silver and copper. Gold is so inert to all the chemicals found in nature that gold coins and jewelry buried beneath the soil or at the bottom of the sea for thousands of years appear to be as bright and perfect as when they were first immersed. Finally, gold has an extremely high reflectivity both to light and infrared rays. Because of these qualities, in addition to its rare beauty, industrial and artistic uses of gold have been growing rapidly. On a world basis, a recent study estimated that in 1960 about 750 tons of gold were used for fabrication, and that the amount had grown to about 1296 tons in 1968. My objective in this talk is to discuss with you the present and future supply of and demand for gold on a worldwide basis and the effect these forces are likely to have on the price the miner can expect to receive for the gold he produces. This is a highly controversial and risky subject to discuss before any audience. Nevertheless, it is a subject that I live with constantly as Chairman of the

Jan 1, 1972