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By L. Beiza, L. Velásquez-Yévenes

Chalcopyrite is by far the most abundant copper sulphide on Earth, but it has proved to be problematic in its processing by leaching, mainly related to its refractory nature, slow kinetic rates of dissolution and the formation of an inhibiting product layer on its surface during leaching. This study is focussed on the electrochemistry of chalcopyrite dissolution in acidic chloride system, which has recently gained attention as a feasible alternative to conventional sulphate media for chalcopyrite leaching. It is well understood that chalcopyrite dissolution from mineral grains depends strongly on the solution redox potential at the mineral surface as well as the composition of the product layer that may form on its surface. The chloride ions in solution support the Cu(II)/Cu(I) couple as the primary oxidant, as they can form complexes with the cuprous ions formed, increasing the dissolution rate. Additionally, these ions increase the potential range where chalcopyrite can be oxidized. The chemical reaction that occurs on the surface of chalcopyrite in chloride solutions in the presence of cupric ions will be characterized and the coulometry of the reaction will be reported to understand what is happening on the surface of chalcopyrite. Electrochemical experiments have been carried out to investigate the behaviour of mixed potential by open circuit potential (OCP) measurement for 30 minutes using sulphuric acid at pH 1 under nitrogen at 25⁰ C. The effect of chloride was analysed at 0, 20, 50 and 100 g/L and cupric ions from 0 to 50 g/L. The potentials obtained were then used to carry out chronoamperometry tests for a period of 30 minutes in absence of cupric ions. The mixed potential did not show a significant difference with an increase in cupric concentrations in the absence of chloride. Increased mixed potentials and current densities were observed at higher chloride and cupric concentrations. Chronoamperometry tests at those potentials were used to construct a voltammogram trace which has the same trend as a normal cyclic voltammogram but with much lower current densities. INTRODUCTION As a result of the depletion of copper oxides, the leaching of copper sulphide minerals has become the focus of many studies. Chalcopyrite, (CuFeS2) which is the most abundant of copper minerals, has proved to be challenging to process via hydrometallurgy, mainly related to its refractory nature, slow kinetic rates of dissolution and the formation of an inhibiting product layer on its surface, during leaching.

Jan 1, 2019

By L. E. Collins

"In western Canada, many new wells contain a significant fraction of H2S. As well, many older wells become increasingly sour over their operating lifetime. For these reasons, there has been increased demand for linepipe and casing for sour service applications in recent years. This paper will review the metallurgical factors which must be considered in designing steels for such applications. IPSCO’s development of linepipe and casing, and experience in fabricating products to meet test standards specified for sour service applications will be summarized. IntroductionWestern Canada produces the majority of Canada’s domestic crude oil and natural gas. A complex system of pipelines has been built to gather the oil and gas from the fields for transport to refining and/or cleaning operations. The gas carried in these pipelines can be either sweet or sour (i.e. containing no H2S or containing H2S) depending on the nature of the field from which it came. Many new fields contain a significant fraction of H2S and many older fields become more sour as their time in production increases. This uncertainty regarding product condition influences the user’s choice of materials for both casing and pipeline applications.It is well known (Merrick, 1989) that hydrogen induced cracking (HIC) will occur in steel when three conditions exist simultaneously: (1) the presence of H2S gas, (2) moisture, and (3) a susceptible material. Steelmakers can only address the latter of these factors. Development of steels to meet test requirements of sour service has been a major focus of IPSCO’s development work for several years."

Jan 1, 1998

By Douglas A. Sloan

"Recently, a number of major mining companies seemed unable to find a president from within the industry, and were searching outside the industry. From this, one could conclude that managers within the industry are either not being prepared or are not preparing themselves for presidential responsibility. Opinions were sought from a number of senior executives, to attempt to define the skills a prospective president should acquire and what actions a company could take or that a prospective president could take to acquire these skills.This paper contains summaries of the opinions obtained, along with the author's comments. The paper also describes the actions some companies are taking and the actions that an aspiring president can take to prepare himself for corporate management.IntroductionA manager is promoted up the management ladder when the manager's superiors believe that he is capable of handling a more senior position. Normally, the manager acquires this credibility by outstanding performance in his current management post, whether it be in a junior management (supervisory) or in a vice-presidential capacity.In most instances, the skills required for promotion can be acquired in the current position or, at worst, the abilities exhibited in a candidate's current role will convince his superiors that the necessary expertise for the more senior position can be acquired on-the-job. This is particularly the case when the new skills are felt to be an extrapolation of the old skills.However, in the case of appointment to presidential rank, there appears to be a need for new expertise which often is not acquired in normal management progression or, at least, boards of directors of some mining companies seem to believe this to be the case. The objective of this paper is to attempt to define the new skills that should be acquired by a manager who aspires to be the president, and to describe what actions might be taken by him to acquire them."

Jan 1, 1982

By S. Akhlaghi

In many electronic/optoelectronic devices, interaction between the metal stack and solder is undesirable. If a reaction happens, a nonuniform joint containing spikes and voids is likely to form and as a result the heat dissipation deteriorates significantly, which in turn, leads to the degradation of the bond. In the present work the interaction between Ti/Mo/ Au metallization system, which was sputter deposited on AlN substrates, and Pb-Sn solder was studied by using scanning electron microscopy (SEM). Also, an EDX system was used to trace the changes in chemical composition of the layers after solder tests. The microstructural examinations show that the Ti and Mo layer from the Ti/Mo/ Au metallization system are not impermeable enough and thus Ca from the surface of the substrate moves all the way up to the interface of Au/Mo and forms an intermetallic at the interface, which grows over time.

Jan 1, 2006

By V. Prodanovic, M. Militzer

Production of advanced linepipe steels with strength levels of 685MPa (100ksi) and higher requires excellent control of runout table cooling to produce the desired final fine-grained microstructures, which may include acicular ferrite. Cooling is exerted on the runout table by applying water jets onto the hot surface of the strip and heat is removed from the steel by forced convective boiling. The associated boiling mechanisms are complex and include film, transition and nucleate boiling. A pilot-scale runout table test rig has been built to systematically study boiling heat transfer from a moving steel plate by employing industrial scale headers. Experiments were conducted using test plates moving at speeds between 0.3 m/s and 1.4 m/s. The plates were cooled down from 850°C to temperatures below saturation by a single water jet supplied through an industrial size circular nozzle. Based on these experiments heat fluxes were determined and further used to develop improved runout table cooling models.

Jan 1, 2005

By C Kumar

Scaffolds are temporary structures built to facilitate construction activities on site. A considerable amount of resources are allocated to scaffolding on industrial projects. Variability in geometrical features and space accessibility of structures on industrial projects, in addition to involvement of different trades that share the use of scaffolds, requires an extensive understanding of scaffolding requirements. Hence, it?s important to plan and estimate scaffolding man-hour requirements for the different construction areas on an industrial site. Contributing factors involved in such estimates include the list of trades that work in a construction area, trade working hours, volume of work, geometry of equipment erected, etc. A simulation template for predicting scaffold erection man-hour values for individual construction areas in an industrial project was developed in Simphony 4.0. The template is based on mapping the geometry of equipment and other factors to man-hours of scaffold work. The template facilitates the use of distributions as inputs and produces a range estimate of scaffold man-hours. The mapping is based on a linear regression model derived from existing project data from PCL Industrial Management Inc. The template is being further developed to incorporate the ability to predict scaffold erection schedule and material requirements based on construction work areas or equipment lists of an industrial construction project.

Aug 1, 2013

By Eric Best

"In the past two to three years, all continuous mining machines at the Potash Corporation of Saskatchewan Mining Limited, Lanigan Division, have been changed over to a new cutting pattern using 1 -inch- and 1-3/l6-inch-diameter self-sharpening pencil bits. The bits are arranged in a cone-type pattern across the face on 2 1/2 -inch and 3-inch spacing. The result is that the ore is removed by chipping and flaking. Previously, rap-lock bits were used, with the pattern being several bits in single rows at wide spacings. The cutting action was grinding and breaking.Besides improved penetration rates and lower bit costs, there are many other advantages. The ore size is much smaller, resulting in less wear and tear on conveyors and other associated equipment. Feeder-breakers are no longer routinely set up at the head end of every extensible belt, as the banana-shaped chunks of ore that used to require breaking are no longer produced. Also, less dust is generated by the cutting heads and fewer stops are required for bit changes. Even the mill operation has been improved, as fewer fines are produced.Further improvements are still sought after, but, all in all, the new cutting pattern is considered to be a giant step forward from the old method."

Jan 1, 1981

By E. Y. Carlson

"IN A SHORT PAPER it is impossible to do much more than to list the industrial minerals found in Saskatchewan and to give a brief description of the activity associated with each. I will not attempt to discuss the geology. It is sufficient to say that the settled part of the Province is covered by glacial drift which varies in thickness from a few feet to several hundreds of feet, and that this has hindered the search over much of the Province.CLAYA notable exception to this is the Cypress Hills area in the southwest corner which did not suffer any glacial action and where we find some of the large exposures of Cretaceous clays. In this area, the majority of the deposits are of stone-ware clays which are •an excellent raw material for such products as face brick and sewer pipe. Although the clay cannot be transported over any great distance it is used extensively in Alberta and Saskatchewan in the production of these products."

Jan 1, 1959

By J. Borlee, F. Sorrentino, A. Fleischanderl, M. Gimenez, W. Gebert, U. Gennari

Large quantities of solid by-products are generated by the steel industry and other important activity sectors in Europe (power plants, car dismantling companies, urban incinerators) with no or very limited potential for direct recovery. In the frame of a multi¬national project supported by the European Union, a consortium has been created to develop a treatment process able to turn these by-products into valuable metallic and mineral products. VAI has been responsible for the design, erection and start-up of the pilot plant for the new metallurgical process and for the execution of the test campaigns, with the targets defined together with the partners. Up to now, 9 campaigns comprising 60 heats have been performed successfully. By-products from C-Steel and stainless steel plants, as well as fly ash and auto shredder residues, have been used and defined products such as hydraulic binders for cement, metallurgical powders for De-S practice and recycled metal phase have been produced. The mineral products were positively assessed under industrial conditions. Results from cement tests and secondary metallurgy are reported, as well as a detailed characterization. The economic value of the products, credits from avoiding dumping and significant savings on CO2 emissions make the new process economically very attractive.

Jan 1, 2004

By Philip M. J. Gray

"The real cost of conversion from ore to semi-fabricated non-ferrous metals has been increasing for many years. Consumer resistance and improved knowledge and techniques now available justify investment in revolutionary as well as evolutionary methods of extraction. Metallurgical factors in current practice which preordain high production costs are identified as: smelters' demand for clean minerals, use of processes with low intensity of working per unit of reactor volume, use of low-velocity reactions, use of long reactor retention times relative to the speed of reactions, dilution of values in solution and commitment to electric power as a source of energy.Six new types of flowsheet are proposed for processing from ore to metal, composed of steps which are economic to construct and maintain and making maximum direct use of fossil fuel and the energy content of minerals. The basic knowledge and technology for developing these flowsheets exists. It is very tentatively suggested that these routes might reduce the capital and production cost for conversion of ore to metal by 30-50%."

Jan 1, 1980

By Paul A. Glapa

Quality is much more than providing a product that functions properly. True quality is a way of thinking, a way of doing business, and, ultimately, a way of satisfying a customer?s long-term needs. A true commitment to quality requires a top-down management commitment, with a willingness to change what needs to be changed and to expand upon ?best practices? that are already done well. Is there a cost to creating and maintaining a quality program? Of course there is, but the cost of not having a focused program is much greater. We have come to regard quality as an investment that pays dividends to both the supplier and customer. The lack of quality costs everyone and the customer pays the ultimate penalty. With modern, highly engineered surface mining equipment the end user calculates cost in terms of lost production (revenue), not simply the cost of the part. Bucyrus International, Inc. is a company that has listened to its customers and has dedicated itself to implementing an advanced quality program. The ultimate goal being the creation of a high quality product with extended reliability for the customer. The result is reflected in Bucyrus? current product offerings and highlighted by the new 495HF electric rope shovels at Albian Sands mine.

May 1, 2003

By J. Baumbach, H. Bombach, M. Stelter

"Today technical electro-refining processes for copper exclusively use sulfuric acid, for silver refining nitric acid electrolytes are used. Sulfuric acid is characterized by very good chemical and electrochemical stability, good conductivity and low cost. The disadvantages of sulfuric acid are the precipitation of fine-grained cathodes with smooth surfaces only by using additives like glue, thiourea and chloride. In case of silver the electrolyte is electrochemical unstable and bears the risk of the formation of toxic NOx when pH is too low. A second disadvantage is the form of electrodeposition of silver as dendrites with their removal from the bottom of the Möbius cells.This paper reports the results concerning the application of an alternative electrolyte in copper and silver electro-refining. At first the electrolyte was characterized by the determination of current density potential curves. Electrolysis experiments were performed in laboratory scale using technical anodes for copper and synthetic anodes for silver. During the copper tests the solubility of contaminations from the anodes and the amount and chemical composition of the anode slimes were determined. Moreover the influence of current density, electrolyte temperature and the effect of several additives on the precipitation and chemical purity of the cathodes were investigated. In all experiments cell voltage as well as anodic and cathodic polarization was measured and current efficiency and specific energy consumption were calculated. A comparison with the results with those of tests using conventional sulfuric acid electrolyte shows the advantages and disadvantages of both systems, additionally the technical application chances and limitations for the new electrolyte. This electrolyte enables the precipitation of smooth copper cathodes with low silver and sulfur concentrations even at lower temperatures without any additive. For silver refining the electrodeposition of compact silver sheets is possible, that can be stripped comparable to those in copper electro-refining."

Jan 1, 2016

By F. J. Macias, A. Bruland, F. E. Dahl

"Tunnelling by use of Tunnel Boring Machine (TBM) is gaining a greater presence as a suitable excavation method. Disc cutter consumption has a strong influence on performance and cost when using TBMs and the influence becomes even more relevant in hard rock. Furthermore, good predictions of TBM performance and cost facilitate the control of risk as well as avoiding delays and budget overruns. Since abrasive wear is the most common process affecting cutter consumption, good laboratory assessments are needed. A new abrasivity test method called Rolling Indentation Abrasion Test was developed. The goal of the new test design and procedure is to reproduce wear behaviour on hard rock tunnel boring in a more realistic way than traditionally used methods by introducing wear by rolling contact on intact rock samples. INTRODUCTIONHigh investments are involved in the tunnelling industry, especially in Tunnel Boring Machines (TBMs) projects. Performance predictions and cost estimations are crucial for planning and risk management of TBM projects. Cutter consumption has a large influence in terms of time and cost, and an even greater effect in case of hard rock projects. Many factors are influencing the amount of cutters consumed in hard rock TBMs. Normal TBM operation results mainly in abrasive wear on the cutters and appropriate methods for abrasivity assessment are needed. Rock abrasiveness cannot be considered as an intrinsic property and the complete tribological system should be considered in addition to the geological properties of the rock.In the present paper, a new test method for abrasivity assessment in tunnel boring called Rolling Indentation Abrasion Test (RIAT) is presented. The traditionally used test methods for determination of rock abrasiveness uses sliding or impact contact in order to cause wear while the RIAT introduces rolling contact on intact rock samples. The ambition of the new test device is to have a reliable method to evaluate the cutter wear in hard rock tunnel boring by reproducing wear behaviour on rolling disc cutters in a more realistic way. It has been established by many authors that the abrasion of a cutter ring is proportional to its rolling distance (Rostami, 1997; Bruland, 1998). In the present work, the weight loss of a mini-cutter ring is measured subsequent to testing in order to evaluate wear in the rolling process and could hence be related to cutter ring wear. Indentation of the tools in the intact rock sample is considered as an indication of the surface hardness of the rock or the resistance to indentation by rolling."

Jan 1, 2015

By Keith Eldridge, Robert Kelly

"Quality management has a/ways played an important role at the Iron Ore Company of Canada; particularly since the early eighties when the iron ore markets favoured buyers as opposed to sellers.Since thot time, IOC's quality system has evolved from basic quality control to the Deming philosophy and its 14 points, and on through various other phases to the ISO 9000 series.ISO 9002 Registration was' first requested by IDC's customers and development plans were prepared in 1988. At this time, Quality System Registration was unheard of in the mining sector and TDC found itself struggling with the concept. The 1U!Xt three years saw the company develop a Quality System to meet ISO 9002 in a two phased approach, setting new standards for the mining industry when registration was achieved in December 1991.The company now sees ISO Registration as the cornerstone of its future quality efforts. IOC's quality system has been integrated with several other initiatives such as loss control and functional training, both of which focus on training and management the workforce to do the job safely, the right way.This paper addresses the steps required to develop a quality system for the mining industry within the guidelines of the ISO 9000 Series and the subsequent integration of other quality related initiatives."

Jan 1, 1994

By S. Onuki, T. Ando, M. Tejima, R. Enomoto, Y. Okada

"Al–Si–Cu–Mg die casting alloys are widely used in the automotive industry, and recent advancements in high pressure die casting technology enable heat treating products to achieve desirable properties. However, CO2emissions associated with die-casting production lines should be reduced to address the global warming issue. In this study, the relation between the microstructures and thermal stability of precipitates formed during isothermal aging at 423, 485, and 558 K of Al-11.0 mass%Si-1.8 mass%Cu-0.2 mass% Mg (JIS ADC12) was investigated using Vickers hardness tests and transmission electron microscopy (TEM). The hardness tests and TEM results showed that Si compounds and Al–Cu compounds enhanced the mechanical properties of the alloy and that the predominant compound affecting the mechanical properties differed between specimens treated at 423 K and those treated at 558 K. Moreover, additional aging at 423–458 K resulted in a material with a Vickers hardness higher than that of the isothermally single-aged material. Differential scanning calorimetry, differential elemental analysis, and selected-area diffraction analysis using TEM suggested that the combination of Al–Cu compounds precipitated at low aging temperatures and Si compounds precipitated during preliminary aging increased the mechanical strength, resulting in a maximum hardness of 130 HV.INTRODUCTIONAl–Si–Cu–Mg die casting alloys have well-balanced mechanical properties, machinability, and cast ability. These alloys are therefore widely used in the automotive industry because of their superior characteristics, accounting for>90% of the aluminum used in die casting production. As a substitute for iron-based materials, these alloys have contributed to the development of lightweight vehicles.Dong et al. (2014) reported that the heat treatment of die casting materials is effective for changing their dimensions under high temperatures as a result of the precipitation of solid-solution elements. Recent advancements in high pressure die casting technology have led to the application of heat treatments of Al–Si–Cu–Mg alloy products to reduce fuel consumption and satisfy customer needs. Although attempts to reduce CO2emissions have focused on fuel consumption in cars and fuel efficiency regulations have become increasingly strict in recent years, CO2discharged from production lines should also be reduced without adversely affecting the properties of the product. Heat treatments for artificial aging after solution treatment (T6 treatment) and after casting (T5 treatment) are CO2discharge sources, which together with a holding furnace account for >80 % of the CO2discharged during the casting process."

Jan 1, 2018

By Chia-Chi Chiu, Meng-Chia Weng, Tsan-Hwei Huang

"This paper proposes a biconcave shape bond model for the distinct element method (DEM) to simulate cementation between two circular particles in geomaterials. Rather than an original parallel bond model between particles, the proposed model adopts the more realistic shape of cementation and considers the elastic response of cementation under external loading. The stress field and force-displacement relationship of the biconcave shape bond is based on Dvorkin’s theory, and three modifications are adopted: (1) A superposition method is applied to improve the correctness and symmetry of the stress field, and it also provides a method of addressing the status when both connected particles rotate; (2) To simplify the input parameters, the tangential movement is replaced by the normal deformation and rotation between particles; (3) To accelerate the calculations, variables are extracted in analytical procedures, which provide an efficient method for applying the bond model with only one matrix inversion. With these three modifications, the new biconcave shape bond model is created.To assess the validity of the proposed model, this study compared the elastic deformation in a single bond with an elastic analysis performed using the finite element method (FEM). After verification of the proposed model, a series of sensitivity analyses was performed to explore the effect of bond shape and the differences from the parallel bond model. For a single bond, the results showed that a biconcave model can represent the mechanical behavior of a biconcave shape bond and is effective with different bond shapes. The stress fields calculated by the biconcave model were more similar to the FEM results than those obtained using Dvorkin’s theory. The width and thickness of a bond have a considerable effect on its stiffness, and the variation of thickness decreases with the width of the bond. In addition, the required parameters can be acquired directly from real bond material rather than using the back analysis procedure for parameters.The biconcave model was further implemented in DEM software Particle Flow Code 2 Dimension to certify its applicability in geotechnical engineering. Using this model, a series of uniaxial compression test simulations was performed to analyze the macroelastic responses of specimens. The results showed that the macrotangential elastic modulus and Poisson’s ratio had a regular tendency, and they agreed with the stiffness variation in a microbond. This finding can assist in determining correlations between microand macroproperties and provides an innovative method for simulating the behavior of cemented granular material."

Jan 1, 2015

By K. G. Markkola

The Minera Candelaria concentrator was commissioned in August 1994, and in October 1997 it doubled its grinding capacity. The concentrator was designed to treat 56,000 metric tonnes of copper ore with a primary crusher, two grinding circuits, pebble crushing, and flotation. The grinding circuit includes two 11.2 m (36 ft) diameter by 4.6 m (15 ft) long semi-autogenous (SAG) mills, each fitted with a 12 MW motor. Throughout the history of Candelaria, different strategies have been developed to maximize the plant's operational time, strategies that include increasing the life of the SAG mill liners and reducing the time involved in changing these elements. This work describes the improvements made in the design of the liners, the change planning, and a new strategy to change the liners with the purpose of increasing their use and throughput.

Jan 1, 2007

By M. Scobie, T. Atkinson

"This paper reviews the development of new designs in extensible and high angle conveyor systems. These aim to overcome the limitations of prior alternative concepts in design. The application of such systems in strip, terrace, open pit and mountain mining is reviewed. IntroductionTruck haulage costs have tended to escalate in recent years. This has been primarily due to operations generally moving to greater depths with associated increases in haul distances . Periods of high inflation rates have also been experienced for diesel fuel oil, tires and other petroleum based products. Recent international political events have tended to regenerate concerns over future oil supply and price stability. For such reasons, conveyor based transport is becoming increasingly attractive. Truck haulage maintains an inherent flexibility and improvements continue to be made in performance and capacity. Doubts must exist, however, over the extent to which further economies of scale may be made. Conversely, belt conveyor systems do not suffer this constraint and have the following advantages:• Electrical power is used and the specific energy consumption is at least half that required for truck haulage.• Operating costs and skilled labour requirements are lower.• Equipment has superior longevity and is ""inflation proof"" .• Access roads can be steeper and narrower in most mine environments, reducing construction and maintenance costs.• They are less prone to breakdown and bad weather delays .• In long haul, high capacity operations conveyors can save substantially on capital cost.• Environmental impact is improved with reduced noise level, dust and atmospheric pollution. Although conveyor systems are less flexible in operation than truck haulage and although a breakdown in any part of the system can immobilize the total system, mechanical availabilities of + 80% are constantly reported by large operators. There would appear in the past to have been some prejudice against conveyor systems in hard rock mines due to lack of experience. Apparent reservations would apply equally 10 underground coal mines, yet practically all of these mines (and some underground hard rock mines) find conveyor systems more economical than other transport systems."

Jan 1, 1991

By P. G. West-Sells

At Barrick's Zaldivar Copper Mine in Chile, the addition of sulfuric acid to the ore going to heap leaching is a major expense. A process in which a portion of this acid is replaced by elemental sulfur added to the heap has been developed by Barrick and Westcoast Biotech that has the potential for significant cost savings. Initial shake flask tests with plant raffinate solution indicated that oxidation of elemental sulfur by a culture of sulfur-oxidizing bacteria, some indigenous to the Zaldivar heap, showed a significant lag period. This lag period could be reduced by dilution of the raffinate, but dilution would not be economical to implement at Zaldivar. Short (0.75 m) column tests indicated that after the initial lag period, sulfur biooxidation occurred steadily and the acid requirement for obtaining the same copper recovery as the control without sulfur was reduced by as much as 13 kg/t. These tests were followed by taller (5.1 m) column tests that confirmed the reduction in acid consumption, with no negative effect on copper extraction.

Jan 1, 2007

By Dale Coffin

Definition Of A Crisis Crisis \kri-ses:\ An unstable or crucial time or state of affairs whose outcome will make a decisive difference for better or worse (Webster's New Collegiate dictionary) An event or set of circumstances that could significantly affect a company?s ability to carry out its business, damage a company?s reputation and/or threatens the health, safety and well-being of employees, the community or the public at large You?re Having A Crisis When... . The emergency poses a significant threat to the public or employees . The emergency situation provokes government scrutiny . The company no longer has full control of the situation . The situation has created significant regional, national or international media interest . The corporation?s reputation may be damaged or there is a threat to the bottom line or share value

May 1, 2004