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By P. Archer

The Blondeau Formation has been examined in a stratigraphic drill section at Barlow Lake. The formation contains pyroclastic flows and volcanogenic sediments throughout, but epiclastic sedimentary rocks dominate the upper parts of the section. Five distinct types of pyroclas tic flows are known in the section, as well as minor mafic lava flows. Volcanogenic sediments are commonly intercalated with the true volcanic rocks. Sedimentary rocks include fine-grained intraclastic sandstones, heterolithic sandstones and green and black shales. Interpretation of the origin and relative disposition of the volcanic and sedimentary rocks favours a model of near-emergent vulcanism in an upward shoaling environment.

Jan 1, 1984

By S. Hopkins, R. Preston, S. Gillis

"This paper examines typical visual inspections of operational soft rock mine shafts and discusses some of the challenges involved, many of which are associated with inconsistent inspection practices. The paper presents the development of a more standardized approach to periodic shaft inspections that supplement the more frequent inspections performed by shaft crews at the mine. This approach helps to keep an accurate record of changing conditions, compare conditions between multiple mine sites, as well as prioritize and plan potential remedial work. INTRODUCTION Shaft inspections, whether they are performed daily or weekly by members of the shaft crew at the mine, or periodically by consultants, traditionally involve a visual inspection undertaken with personnel traveling on an inspection deck on the conveyance, taking notes and photos. Inspections are typically required by mining regulations and carried out to identify and address hazards before a safety incident occurs that could cause harm to people or damage to property, as well as to help plan required maintenance work. Depending on the site, there can be many challenges associated with inspections in the shaft, especially compared to a typical inspection at surface. Some of these challenges are associated with the shaft environment itself, while others are related to the subjectivity of inspections and a lack of standardization, particularly between multiple sites within the same operating company. Recognizing these challenges, a more consistent and repeatable approach to shaft inspections in soft rock mines is evolving. This approach involves reviewing available historical data, comparing sites with similar conditions, establishing survey control, documenting observations and measurements with locations, and updating as-built or condition drawings. Part of this standardized approach is the implementation of an innovative 360-degree camera with a high-power lighting system that can be used either remotely or alongside personnel completing a traditional visual inspection. The system uses six cameras to take photos at a rate of 15 frames per second, with the image data subsequently processed and stitched, then joined into a high-resolution video. This tool improves time-efficiency, objectivity, and repeatability of inspections."

Jan 1, 2019

By S. E. Jackson, L. J. Cabri

Quantitative determination of gold at sub-ppm concentrations in sulphide minerals is an important component of deportment studies for sulphide-gold deposits. Laser Ablation Inductively Coupled Mass Spectrometry (LA-ICP-MS) analysis is preferred for this application because it rapidly and cost-effectively provides spatially resolved (<20 pm), low ppb concentration data for gold and other elements in mineral grains. Recent advances in LA-ICP-MS analysis include the development and application of elemental mapping. Raw signals from multiple line scans or lines-of-spots are deconvoluted and calibrated to generate elemental maps which provide detailed information on spatial variations of gold and other elements within and between grains.

Jan 1, 2011

By T. Purushotham, B. Samanta

ABSTRACT; The shaft bottom junction in a mine ventilation system is an important source of shock loss due to the combined effect of bend and area change. The occurrence of high-volume ?ow rates through this con?guration can potentially result in high energy losses. The current research examines the process of shock loss at a characteristic shaft bottom junction of an underground coal mine. Investigations are per-formed on both laboratory-scale models and three-dimensional computational ?uid dynamics (CFD) simulations, under both exhausting and forcing shaft bottom conditions. The effects of the plat roughness and the shaft bottom length on the shock loss factor values are also examined. The studies show that the combined effect of bend and area changes that occur at the shaft bottom junction results in shock loss factors that are much higher than those values resulting from abrupt area change only. The transition from a smooth wall condition to an unlined rough airway condition (relative roughness, e/d = 0.112) can increase the shock loss factors by 40%. The effect of shaft bottom length on the shock loss factor has not been clearly established due to con?icting results produced by scale model studies and the CFD simulations.

Jan 1, 2010

The Millennium deposit, located in northern Saskatchewan between the McArthur River mine and the Key Lake mill, has considerable potential for becoming an operating mine. Located in the Athabasca Basin, Millennium is blessed with both the riches and the challenges that this basin offers. The potential for ground water inflows during shaft sinking, and the unconventional challenges associated with underground uranium mining, render the successful development of a new mine in this area especially rewarding. The preliminary design and engineering of the Millennium Project has tapped into the experience of other operations in the area, and has utilized new applications of geophysics technology to enhance the understanding of the local geological structure. This discussion will focus on the innovations, and the challenges specific to uranium mining, for a deposit that is poised to be one of the next mines to supplement Saskatchewan&apos;s uranium resources.

May 1, 2008

By W. J. Mcgaughey, M. A. Vallée

"Abstract -The application of geophysical technology to resource delineation aims to improve the quality of resource/reserve estimates by integrating high-resolution survey methods, geophysical modeling and inversion with three-dimensional representations of geological and mineral deposit data. The use of geophysics can cost-effectively improve a geological interpretation based only on geological and sampling data. Success depends upon the ability to use geological visualization and modeling software, first to develop a three-dimensional geological model and then to modify it interactively by integrating geophysical data with the geological and sampling data.The high resolution required for mineral delineation geophysics results in a focus on borehole seismic and high-frequency electromagnetic methods. Borehole wireline logging is used to develop an understanding of the relationship between physical properties and geological description. Data from core samples and borehole wireline logs allow the construction of a three-dimensional physical property distribution, consistent with the existing geological interpretation. The three-dimensional physical property distribution is used for both geophysical forward modeling (to compare to field data) and as a starting model in iterative inversions.Advanced visualization techniques allow the simultaneous viewing of the three-dimensional physical property model, the geological information and data from which it is derived, and the geological interpretation and the geophysical results. Geophysical results may be simulated responses from a forward model or the output from a numerical inversion in the form of an updated physical property distribution. Iterative refinement of the geological interpretation is required to ensure consistency with the geological and geophysical data. The key to success with this approach is that all relevant geological, geophysical, and rock property data reside in a common, visual model of the earth.Examples from massive sulfide deposits illustrate the benefits obtained by the integration of geophysical and geological data."

Jan 1, 1998

By G. D. Mcdowell, L. B. Cochrane, B. D. Thompson

"Abstract - Exploration for deep underground copper and nickel sulfide deposits in the Sudbury mining camp is carried out with surface drilling. More detailed drilling, with an advanced underground exploration program, may be necessary to establish an accurate interpretation of the deposit geology and upgrade the resource estimate to the measured category for reserve estimation and feasibility assessment. Resource evaluation is a lengthy and costly process that could result in a decision not to proceed with the project. For projects that proceed to production, significant reductions in the operating and capital costs could be achieved with a more accurate interpretative model of the deposit geology and mineralization. Quality control procedures to ensure the integrity of the drilling data and interpretation guidelines are essential steps in the development of a deposit model. The use of block modeling techniques and the application of geostatistics for resource estimation further improve the quality of the resource model.Significant improvements to the interpretive models can also be achieved by incorporating additional information from geophysical measurements to validate and constrain the geological interpretation. The geophysical models must be consistent with known geological environments and oreforming processes, which has required the concurrent development of comparative models from exploited deposits. These geophysical techniques can also provide key geotechnical information required for the optimum design of the mining method and mining sequence. The objective of this program is to improve the accuracy of the deposit model and the quality of the resource and reserve estimates in order to optimize capital investments and reduce the development and operating costs of underground mining projects. Several of these techniques are currently being tested at INCO Limited’s Sudbury operations. The results from those tests are presented and their applications are discussed within the framework of resource/reserve classification systems and project evaluation objectives."

Jan 1, 1998

By J. Graham Eby

"This paper describes the development and some typical applications of Wemco's large-capacity flotation machines, the No. 120 and the No. 144, with volumes of 300 and 500 cubic feet, respectively. During the 1960's, it became obvious that low-grade orebodies would be mined at high tonnage rates - plants and grinding mills would be larger, which would create a demand for larger flotation equipment. To meet this demand, Wemco developed a single-mechanism, 300-cubicfoot cell, having five times the volume of the standard No. 66 cell. The average production rate of the No. 66 cell on porphyry copper ore was 100 tpd per cell; and it was our intention that the No. 120 (300-cu. ft) cell would handle 500 tpd per cell, with at least equal metallurgical results and power consumption per ton. The success and industry acceptance of the No. 120 cell has since led to the development of a larger cell, the No. 144, having a volume of 500 cubic feet."

Jan 1, 1972

By N. Katsikaros, A. Lewis-Gray, P. Richards

"To optimize gold recovery in complex leach-to-electrowinning processes, Gekko Systems developed the Gekko resin exchange column (G-REX) as an intermediate step, using a highly gold-selective resin to isolate contaminant metals. The AuRIX®100 resin produced by Purolite is licensed exclusively to Gekko, with the G-REX column designed specifically for this resin. Operational experience has been gained at the Castlemaine Goldfields Ballarat gold mine. In near-continuous operation since 2008, the Ballarat plant treats unclarified concentrate leach solution. The extension of this technology to higher throughputs and more complex chemistry is discussed.RÉSUMÉ Afin d’optimiser la récupération de l’or dans des procédés complexes impliquant la lixiviation suivie de l’extraction électrolytique, Gekko Systems a développé la colonne Gekko de résines échangeuses d’ions (G-REX) comme étape intermédiaire, à l’aide d’une résine hautement sélective pour la récupération de l’or qui permet d’isoler les métaux contaminants. Gekko détient la licence exclusive pour la résine AuRIX®100 produite par Purolite, et la colonne G-REX a été spécifiquement conçue pour cette résine. C’est à la mine d’or Ballarat de Castlemaine Goldfields que l’expérience opérationnelle a été acquise. L’usine de Ballarat, en exploitation quasi-continue depuis 2008, traite une solution concentrée non clarifiée de lixiviation. L’extension de cette technologie à des capacités supérieures et à une chimie plus complexe est examinée."

Jan 1, 2017

By Xueyi Guo

The total production of nonferrous metals in China is 31.35 million tons in 2010, which ranks first in the world for the past ten years. Large quantities of solid wastes including slag, residue, ash, and dust are produced every year in the production of nonferrous metals. These secondary resources are renewable, not only contain abundant valuable metals which can be recycled by metallurgical processing, but also could eliminate the pollution to the environment. In this paper, the status quo of the main nonferrous metals recycling in metallurgical industries in China was summarized, and the future development of waste processing and resource recycling was prospected.

Jan 1, 2011

By Wallace R. Horn

"MR. CHAIRMAN AND GENTLEMEN :I begin this talk by making a couple of comments which are of the nature of disclaimers.Firstly, and as the Chairman has otherwise indicated, I was neither ""born into"" nor have I spent more than a few years of my professional life in the mining industry. I mention this because many might, and perhaps rightly, consider that an added qualification in presenting a report of what the industry has accomplished. Indeed, I am not here to blindly defend all of its actions and inactions in respect to environmental control over the years. Nor am I here to seek absolution of the industry's past transgressions - if indeed that is the word. Mistakes might be a better one. I concluded some time ago that the effects of those mistakes are too difficult to assess against the sea of errors of our total society. I should mention too that I am not an environmental engineer or specialist - only a portion of my interest is involved with this field. Perhaps this permits a perspective which allows a more accurate and objective view.One further comment here. My job today, as I understand it, is to generally report upon the nature and extent of the response of the metals mining industry to control of the environment. In the case of an industry operating at more than a hundred locations and for various reasons at various stages of progress, it is not an easy job. On the other hand, I wanted to avoid the use of generalities because, especially within the context of environmental or ecological opinion and of the practice of condemnation of industrial segments, I think we've had about enough of generalities until we know far more than we do.Finally, I am quite aware that a statement of future plans to achieve environmental control does not impress or satisfy as many people as it may have done some years ago. Public opinion demands to know what is currently underway, today."

Jan 1, 1972

By J. S. De Lury

The metalliferous areas of Manitoba have been described in more or less detail. Since the descriptions were written some new prospects have come to light and considerable mining development has taken place in two or three localities. No attempt will be made in this paper to give an account of recent activities or to describe the several areas in detail. In a general way, geological conditions are similar in all metalliferous areas of the province, a similarity that invites a discussion of the prospects as a whole, the features that are common to all deposits and the reasons for their uniformity. Modern theories of metallogenesis have a direct bearing on such a discussion and an effort will be made to show their application.

Jan 1, 1925

By P. Langlois, G. Labonté, J. J. Barrett, J. Holmes

"The Voisey’s Bay mill processes a high-grade pentlandite and chalcopyrite ore in a largely pyrrhotite/troilite matrix. From 1994 to 1997, circuit development focused on making a 14% nickel concentrate. When flowsheet development resumed in 2001, the target grade was raised to 20% ni. initially triethylene tetramine and sulfite pyrrhotite depressants were used in a lime circuit, but by recycling process water and the contained thiosalts, the required nickel grade was made without depressants. construction of the mill was fast-tracked, with start-up in september 2005. ramp-up was faster than other recent nickel installations, with tonnage being limited by concentrate dewatering due to higher-thanexpected ore grades.RÉSUMÉ l’usine de traitement de Voisey’s Bay traite un minerai à teneur élevée en pentlandite et chalcopyrite dans une matrice formée surtout de pyrrhotite/troïlite. De 1994 à 1997, le développement du circuit ciblait la production d’un concentré à 14 % de nickel. lorsque le développement du schéma de traitement a été repris en 2001, la teneur cible a été élevée à 20 % de ni. initialement les déprimants triéthylènetétramine et sulfite de la pyrrhotite étaient utilisés dans un circuit à la chaux; cependant, en recyclant l’eau du procédé et les sulfosels qui y sont contenus, la teneur en nickel a été atteinte sans utilisation de déprimants. la construction de l’usine de traitement a été accélérée et elle a démarré en septembre 2005. la mise en opération a été plus rapide que pour d’autres installations récentes de nickel; le tonnage traité étant limité par le séchage du concentré en raison des teneurs de minerai plus élevées que prévu."

Jan 1, 2017

By A. Valdivieso

Reducing accident rates keeps getting more and more complex as the usual tools enter a curve of diminishing results. Fortunately, nothing modifies behaviour in a stronger and wider way than having a robust safety culture. On the other hand, managing cultural change is difficult and the risk of back-fire is very high, especially if the workforce does not trust our intentions. A personalized approach of well chosen and targeted actions tends to be the only yet difficult option. We have found, via experience in the metallurgy and chemistry industries, a way of preparing the company and the workforce to accept these sorts of culture changing measures faster and easier. Using company-wide changes based on workplace perception, yields the most optimal acceptance. It is based in the principle that we all use clues in our environment as guides to choose our behaviour. So, controlling the perception that our workplace generates can affect behaviour and simplify our task before it even starts. It is a matter of using the tools that other disciplines such as marketing, social engineering and architecture bring to us and adapting them to a very defined objective: Having our installations “sell” safety so that our people unconsciously believe that they must adapt to safety values in order to “do well” in said environment. INTRODUCTION After decades of improvements in accident rates, we are understandably hitting a diminishing results curve: most actions that spectacularly reduced accidents in the past (e.g., Innovation in Personal Protection equipment, adapting international standards and legislation, and innovative safety programs; Figure 1) now hardly get us the exponential gains we saw years back, regardless of the investment we put on them. Furthermore, the improvements in safety of the last 3 decades have been creating new sets of issues that start to show their face such as: By reducing accidents we can create feelings of invulnerability as we lose view of the consequences. With innovative protection equipment we increase Risk Homeostasis, meaning that people behave in a more dangerous way in order to maintain a constant level of risk in their lives (Getting closer to fire after getting better fire-proof garments for example). Too much Legislation can create a feeling of disengagement from personal responsibility. And despite improvements, we haven’t really solved the production vs safety confrontation, it is now stigmatized and less visible, yet it tends to reappear in moments of weakness.

Jan 1, 2019

By E. Fiset, T. Hennebel, F. Verbruggen, A. Prévoteau, K. Rabaey

Arsenic (As), bismuth (Bi) and antimony (Sb) are known to affect the quality of copper deposits in copper electrowinning operations. The codeposition of As was previously believed to occur only at current densities far exceeding the range of typical current densities for copper electrowinning. In this study, we investigate the copper electrodeposition on different pretreated stainless steel (SS) substrates from bleed electrolyte in galvanostatic mode at –45 mA/cm². Scanning electron microscopy (SEM) micrographs illustrate that during the initial phases of copper nucleation and growth, the current density was locally increased due to the pretreatments. It was reasoned that the codepostion of As could possibly occur in normal electrowinning conditions, but the risk can be substantially reduced by good SS substrate handling and maintenance practices. INTRODUCTION The presence of As, Bi and Sb is known to have a deleterious effect on the copper cathode quality in copper electrowinnings (Hiskey & Maeda, 2003; Hoffmann, 2004; Xiao, Cao, Shen, & Volinsky, 2012; Xiao, Cao, Mao, Shen, & Ren, 2014; Jafari et al., 2017). They are known to influence both the chemical and physical quality of the copper as they can contaminate the copper (Jafari et al., 2017) and affect the copper deposit structure (Hiskey & Maeda, 2003; Kim, Kim, & Chung, 2009), which contributes to a degraded market value of the copper (Tuddenham, 1984). The incorporation mechanisms of these impurities are believed to occur mainly through slime inclusion (F. Xiao et al, 2012) and electrolyte inclusion (Hiskey & Maeda, 2003). Other studies suggested that codeposition of these impurities is possible by their standard reduction potential being close to the one of copper (Xiao et al, 2014). Hiskey and Maeda (2003) investigated the copper electrodeposition on a copper electrode substrate in Cu electrolytes with a Cu, H2SO4, As, Bi, Sb composition representative for commercial copper tankhouses. The combination of voltammographic techniques and Auger electron spectroscopy showed that As was the first impurity to be electrodeposited from this electrolyte, yet at potentials where the limiting current density of the copper electrodeposition reaction is exceeded. The copper tankhouses usually operate at a current density ratio of 0.3 to the limiting current density in order to achieve tolerable copper quality deposits. The codeposition of As could be considered impossible in this current density condition. However, it is known that during the initial phases of electrodeposition on foreign substrates, a substantial part of the reaction proceeds by growth of individual nuclei where the current density is locally high and diffusion limited (Radisic, Ross, & Searson, 2006). Furthermore, it was observed that copper nucleation on TiO substrates occurred preferentially in the scratched oxide free areas which could serve as parts with high localized current densities (Chang, Choe, & Lee, 2005).

Jan 1, 2019

By T. A. Utigard

To improve recoveries of Ni, Cu and Co in the Inco flash furnace, a new operating concept was investigated. By adding sufficient coke to form a supernatant coke layer, a reducing barrier would form allowing for improved reduction of descending oxidized sulfide mineral particles formed in the flame. The objective of this investigation was to study the kinetic mechanism and efficiency of the coke layer to produce a sulfur deficient matte. The mechanism and rate of carbon reduction of each of the phases formed in the flash flame, i.e. sulfides and oxysulfides were investigated by means of X-ray visualization tests. Graphite-slag reduction was also conducted for comparison purposes. In the case of slag, poor wettability and the formation of a gas film on the surface of the carbon reductant are often blamed for limiting the reaction surface area that ultimately results in poor reaction kinetics. The X-ray visualization tests confirmed that matte and oxysulfide wet coke better than slag and that the rates of reduction of matte and oxysulfide are faster than that of slag.

Jan 1, 2005

This paper describes basic parameters, such as surface forces and film elasticity, affecting the stability of foams (two-phase froths). We used the thin film pressure balance (TFPB) technique to measure the surface forces in foam films stabilized with various frothers such as pentanol, octanol, methyl isobutyl carbinol (MIBC), and polypropylene glycol (PPG). The results were compared with the foam stabilities measured experimentally and the film elasticities calculated using a new model developed by Wang and Yoon (2006). It was found that at low electrolyte (NaCI) concentrations foam stability is controlled by both film elasticity and surface forces (or disjoining pressure), the relative contributions from each changing with frother type and concentration. Further, the kinetics of film thinning was studied at a high electrolyte concentration. The results obtained in the present work showed that the major role of a frother is to decrease the hydrophobic force rather than to increase the film elasticity. This conclusion is drawn from the observation that at the typical frother (MIBC) concentrations employed in flotation, frother additions cause sharp decreases in hydrophobic force while causing relatively little changes in film elasticity.

Jan 1, 2006

By Leslie S. Weldon

THE Lake Shore mine has been developed by two vertical shafts, with level intervals at 200 feet to the 2200 level and at 125 feet below this horizon. A main cross-cut joins the two shafts on all levels to the bottom of No. 3 shaft, and opening into these cross-cuts are the ore passes and sand passes, which are completed from surface To the 4450 level. In the west part of the mine, additional connections have been made between No. 1 and No. 2 veins, through which the major part of the ore from No. 2 vein west is routed to drifts in No. 1 vein. With the lesser amount of stoping on No. 1 vein, this arrangement permits better haulage to be maintained. The ore passes are driven at 50 degrees from the ends of short cross-cuts off the main ones and are broken through to the levels above at the mouths of the short cross-cuts, to allow for dumping on each level. The passes are controlled at each level by ball-and-chain gates and deliver to crushers and thence to loading pockets, shown in Figure 1. That system is quite flexible in that it is possible to by-pass the crushers at any station and load from either shaft at a number of different pockets. The sand passes are driven from the main cross-cuts at the same inclination as, and parallel to, the ore passes. Each is equipped with a chute and dump hole, so that waste or sand fill may be loaded or dumped at each level. A transfer door, hinged on the bottom, is installed opposite the chute for by-passing fill from one level to the next, and in the closed position protects the opening at the top of the pass. The dump hole situated beside the transfer door is protected by a grizzly with 10-inch spaces. Waste rock may be withdrawn from the system through No. 3 shaft loading pocket at the 2950 level to a waste bin on surface. Levels are developed by drifts in No. 1 and No. 2 veins for their entire lengths. Subsidiary breaks are followed at a later date, when full information has been obtained by exploration, and a considerable amount of development by sub-drifts is carried out in the upper part of the mine, particularly in more or less erratic sections of No. 1 vein.

Jan 1, 1936

By I. Filzwieser, M. B. Hanel, A. Filzwieser

The paper describes the current density increase within the last 150 years. From the beginning in 1885 at 30 A/m² up to the highest used current densities nowadays at 420 A/m² towards future pathways were even 1000 A/m² can be achievable. A short tour through history will highlight the milestones of the process of electrolytic refining of copper. Besides the improvement of the existing technology, the biggest changes leading to higher possible current densities are linked to the introduction of the ISA stainless steel plates and the introduction of the parallel flow principle. Furthermore, the parameters influencing the limitations regarding current density and therefore the practical used current density as well as the influence from the chemical composition of the electrolyte is discussed. Finally, the possibility of further increasing the current densities by enhancing the relative movement between electrolyte and electrode will give an outlook about the future of the copper electrolysis process. INTRODUCTION The current density is the most important characteristic to describe the productivity of a copper refining electrolysis besides the characteristic number for the electrical efficiency. Over the last 150 years, current density has risen from a few amperes per square meter to over 400 A/m² without any significant change in the principle of electrolytic refining. This increase in current density is documented exemplary by the electrolysis of Montanwerke Brixlegg in Austria (Brixlegg, 1963, 2013). The very beginning of the technology of electrolytic refining of copper was first patented in England by James Elkington in 1865 and the first electrolytic copper refinery was built in Newark, New Jersey, in 1883 (Armstrong, 1999). The secondary smelter Montanwerke Brixlegg, Austria, has been operating an electrolysis plant since 1884. In 1988, the third "Mount Isa" electrolysis plant worldwide and the first in Europe was put into operation in Brixlegg. Since 2010, the so-called high-current electrolysis (parallel flow METTOP-BRX Technology) with a current density of approx. 400 A/m² has been operated in half of the electrolysis process.

Jan 1, 2019

By Robert B. Parsons

"1984 was an eventful year in the courthouse f or observers 0/ the mining tax scene in Canada. For the first time in a number of years, the Federal Court heard several important tax cases which pertain directly to the resource industries. Tax Notes discusses/our cases that could affect the taxation 0/ operations and investment in the mining sector.Capital Gain or Income?Ever since tax reform, risk-takers in the exploration business have maintained that the taxation of capital gain s is a significant impediment to raising risk capital. It must be akin to rubbing salt in the wound, then, when an entrepreneur sells shares and the Court upholds Revenue Ca nada taxing the gain as ordinary income instead of capital gain. But, this is precisely what happened in the case of The Estate of Murray Watts, et al. v. The Queen.The issue that had to be decided by the Federal Court, Tri al Division, in this case was whether or not the profit from the sale of shares in Hearne Coppermine Exploration s Limited in 1968 was a capital gain, or income subject to tax.Hearne was incorporated in July, 1967. At that time, the three plaintiff s, together with seven other individuals, subscribed for 400,000 shares at 10 a share. The plaintiff subsequently subscribed for an additional 500,000 shares at $1.A pooling agreement was entered into by all ten shareholders regulating the disposition of any o f their shares; any sale required approval of seven of the ten initial sub scribers. It also provided for the sale of their shares 30 days after any public offering."

Jan 1, 1985