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By Clarence Zener

It is customary to regard the stress-strain relation as consisting of two parts, thc elastic region and the plastic region. The essential attribute of the plastic region is the presence of a permanent set, which remains upon removal of all stresses. The essential attribute of the elastic region is the absence of such a permanent set. Absence of a permanent set does not imply a linear relation between stress and strain, nor even a single valued relation. In fact, in no real metal is stress a single valued function of strain in the elastic region. The property of a solid in virtue of which stress and strain are not uniquely related in the elastic range will be called "anelasticity." The purpose of the present article is to review and correlate the past work upon the anelasticity of metals. The following paper by W. A. West124 describes investigations upon anelastic properties of iron. Many manifestations of anelasticity have been observed, the first as early as 1835 by Weber.l,2 In his experiments Weber subjected a specimen to a constant load (or deformation) for a given time, and then suddenly removed the load. He observed that most of the deformation suddenly disappeared, but that there remained a residual deformation, which disappeared only gradually with time, as is illustrated in Fig. I. The occurrence of a residual deformation which only gradually disappeared, Weber called the elastic after-effect (Elastische Nackwir-kung). An extensive review of the early work upon elastic after-effects has been given by Auerbach.3 Another manifestation of anelasticity is the dependence of the elastic constants---e.g., Young's modulus— upon the method of measurement. Thus, if dynamic methods are used, the measured value will depend upon the frequency of oscillation. Still another manifestation is dissipation of energy attending vibration, called damping or internal friction. One objective. of metallurgical science is the understanding of the plastic and fracture properties of metals in terms of their microstructure. Through such an understanding will come the ability to design microstructure to give the desired mechanical properties. A study of anelasticity will furnish an invaluable aid in the attainment of this objective. Such studies, when properly guided, yield information regarding the relation between stress and strain in the individual components of the microstructure. In order, however, that this type of information may be obtained, it is necessary that the experimental studies of anelasticity be interpreted by the appropriate mathematical analysis. This article, therefore, starts with the mathematical formulation of anelasticity.

Jan 1, 1947

By M. Cohen, B. L. Averbach

Many hardened steels contain significant quantities of retained austenite even in cases where the carbon and alloy contents are low. In fact austenite has been detected in plain carbon steels containing as little as 0.50 pct carbon.1 Although the austenite may not be visible metallographically it causes definite dilatometric and magnetic effects during subsequent tempering or sub-atmospheric coo1ing.l,2,3 Therefore if the reactions which hardened steels undergo during later treatment are to be understood in quantitative fashion it is most essential to have some kind of absolute analysis for the austenite content in hardened steels. Once this analysis has been made, the austenite transformations can be followed precisely by observing such sensitive phenomena as changes in length or in magnetization but the latter techniques can only determine differences in the amount of retained austenite and usually an independent method must be found to put these differences on an absolute basis. In certain instances the microscope can be used advantageously to determine the percentage of retained austenite. The quenched sample is tempered to "darken" the martensite with minimum decomposition of the coexisting austenite, and then is polished and etched in the usual fashion. If the austenite is clearly distinguishable from the tempered martensite and other possible constituents its volume percentage can be measured quantitatively by point counting or lineal analysis.4 Such microscopic methods, however, depend on the etch being sufficiently discriminatory. In fairly coarse structures, if the austenite content is greater than 10-15 pct, there is probably little smearing of the etch, and point counting or lineal analysis seems to be quite accurate. On the other hand if the structure is difficult to resolve, as in commercially treated fine-grained . steels which contain less than 10-15 pct retained austenite, the latter may be completely obliterated by the dark etching martensite or it may appear disproportionately low as the interfaces between the two constituents become difficult to distinguish. Another disadvantage of the metallographic method is the need for "darkening" the martensite and hence the determination cannot be applied to as-hardened steels. The required tempering may spoil the structure for other tests or may even remove a small part of the austenite which is being sought. X ray methods hold more promise for covering the range under 15 pct retained austenite. Although austenite and martensite in the hardened steel may be chemically identical, their crystal structures and lattice parameters differ, and the intensity of an austenite diffraction line is some continuous function of the percentage of re-

Jan 1, 1949

By B. L. Averbach, M. Cohen

Many hardened steels contain significant quantities of retained austenite even in cases where the carbon and alloy contents are low. In fact austenite has been detected in plain carbon steels containing as little as 0.50 pct carbon.1 Although the austenite may not be visible metallographically it causes definite dilatometric and magnetic effects during subsequent tempering or sub-atmospheric coo1ing.l,2,3 Therefore if the reactions which hardened steels undergo during later treatment are to be understood in quantitative fashion it is most essential to have some kind of absolute analysis for the austenite content in hardened steels. Once this analysis has been made, the austenite transformations can be followed precisely by observing such sensitive phenomena as changes in length or in magnetization but the latter techniques can only determine differences in the amount of retained austenite and usually an independent method must be found to put these differences on an absolute basis. In certain instances the microscope can be used advantageously to determine the percentage of retained austenite. The quenched sample is tempered to "darken" the martensite with minimum decomposition of the coexisting austenite, and then is polished and etched in the usual fashion. If the austenite is clearly distinguishable from the tempered martensite and other possible constituents its volume percentage can be measured quantitatively by point counting or lineal analysis.4 Such microscopic methods, however, depend on the etch being sufficiently discriminatory. In fairly coarse structures, if the austenite content is greater than 10-15 pct, there is probably little smearing of the etch, and point counting or lineal analysis seems to be quite accurate. On the other hand if the structure is difficult to resolve, as in commercially treated fine-grained . steels which contain less than 10-15 pct retained austenite, the latter may be completely obliterated by the dark etching martensite or it may appear disproportionately low as the interfaces between the two constituents become difficult to distinguish. Another disadvantage of the metallographic method is the need for "darkening" the martensite and hence the determination cannot be applied to as-hardened steels. The required tempering may spoil the structure for other tests or may even remove a small part of the austenite which is being sought. X ray methods hold more promise for covering the range under 15 pct retained austenite. Although austenite and martensite in the hardened steel may be chemically identical, their crystal structures and lattice parameters differ, and the intensity of an austenite diffraction line is some continuous function of the percentage of re-

Jan 1, 1949

THE Nominating Committee appointed at the Division meeting in October and consisting of Frank A. Herald, A. W. Peake, C. R. McCollom, Joseph Jensen, H. W. Camp, C. P. Watson, F. Julius Fohs, George Otis Smith, J. B. Umpleby, J. M. Lovejoy and A. W. Ambrose, have presented the following ticket for the year 1929: Chairman, Joseph B. Umpleby; associate chairman, A. C. Rubel; secretary-treasurer, R. Van A. Mills; vice-chairman for Economics, Warren A.. Sinshein~er; vice-chairman for Engineering Education, H. C. George; vice-chairman for Engineering Research, Harry H. Hill; vice-chairman for Production, C. P. Watson;vice-chairman for Refinery Engineering, A. D. David. For Production Engineering Charles V. Millikan. is named vicechairman, with ,Charles E. Beecher, Glenn D. Robertson and W. W. Scott as associate vice-chairmen. The Executive Committee named is to consist of Joseph B. Umpleby, chairman with A. W. Ambrose, Charles E. Beecher, A. D. David, Glenn D. Robertson, H. C. George, Harry H. Hill, John M. Lovejoy, Charles V. Millikan, R. Van A. Mills, Earl Oliver, A. W. Peake, A. C. Rubel, W. W. Scott, Warren A. Sinsheimer and .C. P. Watson, members. Ballots will be mailed to members of the Division.

Jan 1, 1928

By D. B. RUSHJIORE

(New York -Meeting, February, 1912.) TORCHES were used by the early Romans for mine-lighting, and these were followed by open lamps or earthen jars filled with tallow or oil, and later by candles. In early coal-mining, explosive gases seldom occurred, and, if they were encountered, the danger of explosion was materially diminished by the absence of any ventilating-system and the consequent insufficient circulation of air to form with the methane an explosive mixture. As the art advanced, the danger of fire-damp became more apparent, and methods for testing the air were resorted to as early as in the fifteenth century. The method of testing consisted in lowering a clog in a, basket down the shaft. As soon as he encountered fire-damp he would commence to howl, after which he was withdrawn, and a leafy bush was fastened to the end of the rope and run rapidly up and clown the shaft. This so disturbed the accumulation of gas as to cause it to rise out of the shaft. Later this odd method of testing was improved upon through the discovery that a light inserted in a body of fire-dam p would produce a blue flame. Candles were used for this purpose, and, when fire-damp was thus discovered, brushing or some other primitive method of fanning was resorted to for driving out the gas. In some instances the gas was burned away, regardless of the danger thereby incurred. A man, wearing a well-moistened coat and a mask with glass spectacles, descended in the mine a few hours before each shift. With a long stick, to which was fastened a burning torch or candle, lie would crawl on the floor with the stick so raised that the light would sweep the roof and ignite the gas which it encountered. In this position the flame of the explosion would pass over him, after which he would retreat from the gases resulting from the combustion. The occurrence of serious accidents resulted in

Jul 1, 1912

By Joan Melcher

The oil embargo and increasing disillusionment with nu- clear power have put this country's abundant coal reserves in growing demand. Both the government and industry are looking toward increased coal mining, and with this goes an increased interest in new and advanced methods of coal utilization. One advanced coal system stands out among the rest-magnetohydrodynamics (MHD). Its high efficiency, strong probability of sulfur dioxide control, and limited consumption of cooling water place MHD in a unique position to help the power generation industry. Another point in MHD's favor is the capital costs of operation, which are lower than those of other advanced technologies. However, initial costs are higher and realization of a commercial MHD plant in this country may be more than a decade away.

Jan 12, 1977

By WALTER B. JONES

PIG iron was first produced in Alabama in 1818 from limonite or brown ore and since then much of this ore has come from the so-called mineral district of northern Alabama, especially along the Cretaceous-Paleozoic contact. For many years the Russellville district in Franklin County, where the first blast furnace was erected, produced more than 100,000 tons of brown ore annually. Limonite has been reported at many places in the Coastal Plain region, where the formations are of Mesozoic and Cenozoic age, but these scattered deposits were never considered to be of much commercial importance. However, in the last three years a considerable quantity of this ore has been scraped up and shipped, particularly from the city of Greenville in Butler County.

Jan 1, 1938

By Albert L. Toenges

COAL mining technique progressed slowly until the advent of mechanized mining. The cutting machine was a forward step, but had only a limited effect upon improving the percentage of coal recovery. Previously, the physical fitness of the loaders and the total output of the miners fixed mine production. The miner was an independent contractor and supervision over his working place was superficial. Rising costs and the inroads of substitute fuels demanded increased output per man to lower the unit production cost. Therefore, the amount of coal loaded mechanically in underground bituminous mines has risen from 0.3 per-cent in 1923 to 7.4 in 1929, to 20.2 in 1937, and to 48.9 percent in 1943. When loading devices were introduced it became necessary to adapt them to existing systems of mining, or to alter the mining system to fit the machine. An increased amount of supervision was required as output depended upon proper operation of the machine rather than on the physical fitness of the individual.

Jan 1, 1946

By AIME AIME

OUR own Institute of Metals and Iron and Steel divisions cooperated with the Iron and Steel Division of the American Society of Mechanical Engineers, the American Welding Society, and the American Society for Steel Treating in a busy week at Cleveland. The morning sessions were held at the Hotel Cleveland and the afternoon ones at the Auditorium, where the metallurgical exhibition under the auspices of the American Society for Steel Treating not only occupied the arena of the Auditorium but completely filled the huge adjacent Annex. In the intervals of sessions the members thronged the exhibits but in the evenings the local attendance was so great that if the crowds had been any larger it would have been difficult to see the exhibits. With so many firms, both producers of metals and of equipment accessory to their production and use, it would be impossible to mention them -all and unfair to single out a few, since no two individuals' judgment would coincide as to relative interest and importance. In any case an exhibit is a thing to be seen rather than described, and these were well worth seeing.

Jan 1, 1929

By WALTER S.

(New York Meeting, February, 1912,) THE earliest example of attempting to form finely-divided materials into larger masses for better adaptation to commercial use was probably the briquetting of peat and lignite-waste at Paris by the use of a clay binder. It was from this attempt that our word briquette has arisen (Fr. la brique), the formed masses being shaped similar to ordinary bricks. This term does not, however, lend itself to the many shapes of such formed material as are now being produced, as few of them aside from some of the European brown-coal products bear any resemblance to the shape of that well-known article. The term "agglomeration " has therefore been chosen as more accurately descriptive of the products now being manufactured, this term including the molding as well as the sintering. With the increasing prices of fuel and ores and the greater demand for economy in the operation of industrial plants, more ,attention has been paid in recent years to the utilization of waste products and low-grade ores and fuels. Much of the waste has been occasioned by the inability to utilize finely ,divided ores and fuels in the furnaces because they could not be kept there, or else because they clogged up the furnace-shaft so that gases could not be forced through under ordinary conditions of operation. As a result, all such fines were thrown on the dump. Again, with the exhaustion of the richer deposits of ores, concentration of lower-grade ores becomes a necessity, and most concentrates are produced in a finely-divided condition. Aside from these considerations, there is also the economy in the cost of operating the plant; a furnace running on agglomerated material will have a much greater output than one working on fines. In one instance the charge of an iron blast-furnace was changed from fine concentrates to briquettes and the output was increased four-fold; better results could have been obtained had facilities been at hand for taking care of the increased output.

May 1, 1912

By AIME AIME

THE Coal Division holds its fall meeting in the Pocahontas coal field, at the West Virginian Hotel, Bluefield, W. Va., Oct. 9 and 10. The first day will be a busy one-two sessions for the presentation of papers and a dinner in the evening. Hon. E. Fudge, Assistant Undersecretary, Mines Department, and R. V. Wheeler, head of the Mines Research Board of Great Britain, will be the guests of the Division. Mr. Wheeler will discuss the British Mining Act as relates to the coal industry. George S. Rice, Chief Mining Engineer, U. S. Bureau of Mines, will present an account of the recent meeting at Buxton in England, of representatives of England, Germany, France, Belgium and the United States to formulate a plan and to correlate research work now in progress in the various countries. The second day the members will be the guests of the operators on a trip through the Pocahontas field. The work of preparation for the meeting is being actively pushed by committees headed by T. H. Clagett, R. M. Lambie and H. D. Smith, and a good attendance, both local and from the general membership of the Division, is anticipated. Because many will make the trip by car the principal automobile as well as rail-road connections to Bluefield are given here. The program for Friday, Oct. 9, follows:

Jan 1, 1931

By AIME AIME

FREDERICK WORTHEN BRADLEY, the newly elected president of the Institute, may be said to be the prototype of the men who have built up the great mining industry of the West. He was born in Nevada County, Cal., on Feb. 21, 1863, and studied mining at the University of California from 1882 to 1884, as a member of the Class of 1885. He was in contact with the mining industry from his earliest years and in his reminiscences which we published last month, he told of meeting Thomas Mein and H. C. Perkins in 1877. Beginning as assayer and roustabout at the Eagle Bird mine, in Nevada county, Mr. Bradley was a deputy mineral surveyor in 1886 and 1887 and superintendent of the Spanish mine from 1885 to 1890. There he made a record of mining gold ore at 65 cents per ton that was not only astounding in that day when modern large scale mining had not yet been developed but is still a mark to shoot at. As a result he was called in 1890 to be assistant manager of the Bunker Hill and Sullivan and was made manager in 1893. In 1897, he was elected to the presidency of the company, a position he still holds. H. C. Perkins and D. O. Mills, the largest stockholders in the Bunker Hill and Sullivan Co. took over the Tacoma smelter in 1898, feeding it with concentrate from the Coeur d'Alene and Douglas Island mines but also doing a gen-era1 smelting business. Mr. Bradley was put in as president of the Smelting company, and held that position until the plant was sold to the American Smelting Securities Co. in 1905.

Jan 1, 1929

By T. M. Girdler

INDUSTRIAL progress and development in this country from the earliest daps to the present has proceeded at an ever-quickening pace. Yet during recent decades the nature of our industrial progress and development has undergone a change of great significance. The earlier days were a period of tremendous expansion. Population was increasing by leaps and bounds. Vast areas of new land were being .2 opened to settlement. And almost boundless new sources of timber, coal, oil, ores, and power were being opened to ever-expanding markets. Today, however, that picture has al- most completely changed. Today, with population increase tapered way off and the opportunity for free expansion into western frontiers gone, the great industrial development of our country continues on a vastly different front. Industrial progress and development today rest on a foundation of technology. The key- stone is research. Our frontiers to- day are frontiers of sciencec

Jan 1, 1939

By Joseph E. Pogue

NEW economic forces are at work in the petroleum industry.. In order to visualize these forces and clearly see their bearing on the producer, refiner and marketer, it is necessary to see in perspective the economic evolution of the business. For several decades prior to 1913 the outstanding feature of the petroleum industry was a trend toward integration, culminating in a huge combine, the Standard Oil Co. An important aspect of this integrative trend, however, was its concentration on the combination aid control of refining and marketing, leaving crude oil production, for the most part, to the exigencies. of small-unit competition. It is a noteworthy coincidence that during this era the law of oil and gas was formulated and applied, whereby these substances had to be reduced to possession to establish ownership; and the forces of competition in crude oil production were thereby intensified. It was to the interest of an industry, safeguarded in its control of manufacturing and markets, to have supply stimulated by legal convention as well as by individual initiative in order that the growing demand could be met without interruption. And so over-production of crude oil during this era was no handicap, but rather an aid, to the progress of the industry.

Jan 1, 1929

By A. Chakravarti, C. C. Harris

First-order kinetics adequately describe the recovery of a single floatable species. The conditions under which cell behazior can be simulated by a single-phase model are discussed; deviations from the multiphase model are accountable. The rate coefficient depends upon operating conditions besides particle size and mineralogy and the physicochemical properties of the pulp constituents. The model for a real flotation system combines the first -order, single-phase model with a distribution of noninteracting species. Methods for determining the distributions are discussed. Applications of the procedure to flotation studies are outlined. The mathematical description of flotation as a rate process can be traced to Garcia1 who reported cases in which the fraction of solid remaining in a cell in semi-batch operation, F (for Notation used throughout, see Table l), decays exponentially with experimental time T. F = e-k>r. (1 The differential equation leading to Eq. 1 is dF ----= -k,F (2) dT which is recognized as the algebraic analog of the chemical kinetics first-order reaction equation.' This has led to suggested mechanisms for flotation and mathematical relationships other than first order: with very little foundation other than analogy. The flotation rate coefficient kl can be accounted for as the product of several probabilities concerning bub-ble-particle attachment and detachment, aggregate entry from pulp into froth and return from froth to pulp, and removal from froth as concentrate. These factors clearly contribute to the magnitude of the overall flotation rate, and there are others also, but describing flotation merely as the overall probability of consecutive gross events hardly appears a significant advance in understanding. More recently, it has been described in terms of a stochastic process, which promises to provide a more satisfactory approach? The present paper will be more concerned with a phenomeno-logical description of the flotation process than with an account of the internal mechanics of the process. This is not a statement of priorities, or a judgement of the relative importance of these options but rather an assessment of what is presently possible. Previous investigators'" have developed methods for interpreting semi-batch flotation data in terms of species distribution. These methods have been used in an attempt to explain flotation behavior in response to changes in operating conditions." Inspection of examples given in the literature" reveals discrepancies between theory and experiment, and data obtained in the Colum-

Jan 1, 1971

IN THE December issue of MINING AND METALLURGY, attention was drawn to the February meeting of the Institute. The plans of the Committee on Arrange-ments have progressed considerably since that date, so that further announcements may now be made. The Mining Methods Committee has definitely arranged for at least three sessions. One of these will be devoted to a discussion of various methods used in sampling large low-grade ore deposits; a second will have for its leading subject underground transportation and mining practice as developed by the Anaconda Copper Mining Co., and the third will be devoted to the coal industry, particularly in reference to the percent-age of economic recovery under various conditions. The Mining Methods Committee will also hold a committee meeting, which will be open to all members, for the purpose of a discussion in reference to the symposium on mining methods which it proposes to hold at an early meeting. The Petroleum and Gas Committee is planning a two-day symposium. A tentative program was printed in the November number of MINING AND METALLURGY, and this, with a few changes, still indicates the plans of the committee. E. L. DeGolyer, vice-chairman of the committee, says Mining engineers and geologists should make every effort to attend the February meeting and hear the symposiums on foreign oil possibilities which have been arranged by the Petro-leum and Gas Committee of the Institute. No such comprehen-sive consideration of this subject as that planned has previously been attempted. This matter is extremely important to all persons who are users of petroleum or its products, and in our present civilization this classification includes every individual, but it is particularly important to the engineer who directs the production and use of power on a large scale. The United States produces currently about two-thirds of the world's oil but consumes more than it produces. We must look .to outside areas for part at least of our petroleum requirements and the future market, because even American oil will be influ-enced largely by the ease and freedom with which this outside supply may be secured. It is important to you to know something of foreign prospects and conditions under which they may be developed.

Jan 1, 1922

By Stirling Huntley, R. H. Johnson

Pennsylvania will be remembered, as long as oil is produced, as the cradle of the industry of petroleum in North America. It was on Oil Creek, near Titusville, Venango Co., that Col. Edwin L. Drake, superintendent for the Seneca Oil Co., brought in the first commercial oil well on Aug. 28, 1859. Great difficulty was experienced in getting the well down to the producing depth of 69 ft. (21 m.) with the spring-pole system then in vogue for punching shallow water wells, so the novel expedient of driving an iron tube through the surface clays and quicksand was finally resorted to. The well had an initial yield of 25 bbl. a day on the pump, but soon went off, though 2000 bbl. were produced by the end of the year. With the Drake well a success, a young industry sprang into being, the rapid growth of which has been second to none in the country and the value of whose product is only surpassed by that of coal. For years the only producing territory, the Pennsylvania-New York field attained its greatest production in 1891, when the bringing in of the McDonald pool, between Pittsburgh and the West Virginia line, gave a total of over 33,000,000 bbl. At present the field, combined with West Virginia and southeast Ohio, gives 25,000,000 barrels. Geology and Stratigraphy In general, the Appalachian field is a huge geosyncline, the axis of which runs roughly northeast-seuthwest, from north of the New York state line south through Brookeville, Kittanning, Pittsburgh, Washington, through the southwest corner of the state of Pennsylvania into West Virginia. Minor folding has accompanied or followed the dominant fold of the field, and it is from these structures near the Pennsylvania-West Virginia line and their influence on the accumulation of oil and gas that I. C. White, state geologist of West Virginia, obtained his evidence for anticlinal guidance of prospecting. Many horizons in the geologic column of the field serve as reservoirs, and there arc several pools that have wells producing side by side from different and widely vertically separated strata. The strata show a promising succession of porous sand and conglomerate horizons alternating with numerous gray and dark brown 01. black shales, admittedly

Jan 1, 1921

By H. W. Krotzer

ADOPTION on a commercial scale of electrolytic deposition of metals brought with it the problem of providing an acid-proof cell or tank. Where the electrolyte contained only a dilute solution of sul-furic acid, wooden, tanks with lead linings were gen-erally adopted. There were cases, however, where a lead lining was impractical as a result of the presence of nitric acid in the electrolyte or because of the method of handling the current for deposition. purposes. Wherever lead was unsuitable for this work, asphaltic mastic was used in its place. This material, in addi-tion to possessing acid-proof qualities and being an insulator for electrical current, is also cheaper than lead. The only reason that prevented the common adoption of mastic for all work of this type was that it was still an unknown, unproved. material; while lead, although more costly, could be relied on. There are several electrolytic tank-houses equipped with acid-proof mastic linings now in operation. The first large one was the series tank-house of the Balti-more Copper Co., where the mastic used was composed of natural asphalts and a silica aggregate. These lin¬ings are now seventeen years old and still in service. The next large plant was that of the Chile Exploration Co., at Chuquicamata, Chile, ,and it is with this that this article deals. Another plant of more recent date is that of the Nichols. Copper Co., Laurel Hill, L. I., and specifications for the new electrolytic tank-house of the Union Miniere du Haut Katanga call for mastic lining. It is also being tried out on a smaller scale or for experimental purposes by many of the larger metal-lurgical companies. Thus while mastic linings were adopted originally to meet operating conditions that prohibited the use of lead, they are now in a position to compete successfully with the standard lead linings that are in general use. The Chile Exploration Co. plant, with a total area of over a million square feet, giving satisfactory ser-vice under the most adverse climatic and metallurgical conditions can be truly called the pioneer in this work. ,This article will deal with the development of the acid-proof mastic linings in Chuquicamata from the original experiments begun in 1912 up to and including the final successful installation that has now been in service for a number of years.

Jan 4, 1927

By Hans W. Schreiber, David W. Neuhaus

INTRODUCTION The Sunshine Mining Company's 16-to-1 silver deposit and mine project are located 384 kilometers (240 miles) southeast of Reno and 360 kilometers (225 miles northwest of Las Vegas, near Silver Peak in Esmeralda County, Nevada, at an elevation of about 2,300 meters (7,000 feet). The deposit was being developed, in 1980, with an anticipated mining and milling rate of 150,000 tons per year (500 tons per day). Mining is by underground, blast-hole open stoping with rubber-tire haul-age out of the mine to a straight cyanide plant about 5.5 kilometers (3.5 miles) from the mine. The product is a gold-silver dore which may be further refined at Sunshine's new refinery in Kellogg, Idaho. The cash required for investment was obtained through the sale of $25 million worth of 6 l/2h silver-indexed bonds. Some $15.0 million were directed toward development of the 16-to-1 Mine. These bonds, which were underwritten by Drexel Burnham Lambert of Chicago in April of 1980, are redeemable on or after April 15, 1985 or payable at maturity on April 15, 1995 at the greater of either $1,000 or the market price of 50 ounces of silver. Behre Dolbear acknowledges the kindness of the Sunshine Mining Company (Sunshine) for allowing the presentation of the subject material for this Case Study. APPLICABILITY AS CASE STUDY Reasons for Choosing 16-to-1 The reasons for choosing the 16-to-1 Mine as a case study follow: 1. The project is simple and compact. 2. The mine is small -- thus relevant to other contemplated precious metal operaions in the western states. 3. The areas of risk are readily identifiable. 4. A change to project financing was under consideration. 5. A substantial decline in the price of silver was experienced during development. 6. Behre Dolbear undertook one of the first feasibility studies of The 16-to-1 and thus has some familiarity with the project. Historical Summary The following history serves as a setting: 1. Late 1920s -- minor "production"(?) via shallow pitting. 2. Mid-1930s -- neighboring Nivlok Mine successfully put into production. 3. Late 1950s (?) -- Callahan Mining Company acquired rights and drilled -- results inconclusive; Callahan turned property back to Arthur Baker, who had originally interested Callahan in 16-to-1 on the basis of its similarity with Nivlok Mine.

Jan 1, 1985

By Clinton H. Crane

DR. TILNEY, the great expert on the study of the development of the brain of human beings and animals, tells us that the greatest difference between the human brain and the brain of animals is that man alone has shown evidence of being able to predict the future. Just why he throws overboard the busy bee who lays up honey for the winter, the squirrel who gathers nuts, and the humble ant, I do not know. At any rate, it is nice to be assured by an authority that we have this power of prophecy. My own experience with attempting to prophesy the future has convinced me that our only possibility of being good prophets is to be good students of history.

Jan 1, 1940