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By John A. Dresser

Seventy years ago a period of prospecting and mining activity began in the Eastern Townships of Quebec that seems to have been quite equal to that of recent years in the Rouyn field. In the following six or seven years a large amount of work was done over a widespread area. About fifty deposits gave some shipment of ore, from a few tons upwards, and as many as five hundred occurrences of copper were made known in the district by official records. Comparing the scale of commercial undertakings of that time and of the present day, these developments must have occupied quite as large a share of the capital and man-power of the Province as northern Quebec employs today. Working conditions at that time were not very favourable. The country was then only newly opened for settlement, and colonists were few and widely separated. Roads of the class built today were unknown. A single line of railway, the Grand Trunk, crossed the district from east to west. Colonization companies controlled large blocks of land on which they owned mining rights and usually reserved these rights in whole, or in part, when selling the lands. Then, as now, the precious metals belonged to the Crown. Yet the work was not without its successes. One of the first deposits discovered, the Acton, was, for a few years, one of the most profitable producing copper mines of its time. Another, the Eustis mine, has been in almost constant operation ever since, and is now vigorously pushing further development. At least two others, now quiescent, proved profitable operations, and several made considerable production. The manufacture of sulphuric acid in Canada was begun by the founder of the Nichols Company at Capelton, on a deposit that is now being re-developed, after a long and creditable career.

Jan 1, 1928

By Lucas G. Thompson

My topic, "The Administration of Mineral Rights'.' is possibly an unusual one, as it deals with a subject upon which many of us have a more than passing interest, I thought ?it might prove consistent with the objects of this meeting, more especially as I propose to deal, not with those broad subjects of nation-wide importance which are often the subject'? of learned (and sometimes futile) academic discussion, but rather with problems in their practical light. To the scientist, the important question is What is it? to the technician, Can it be utilized? to the business-man, Will it pay? All three questions are important, and so quick has been the march of business on the heels of science? that the one question follows the other with astonishing rapidity and all three must be considered in the modern management of a mineral estate. A .good illustration of the force of this can be found in the recent advance of our knowledge of the element helium in which we have advanced from a solution of the first question to the last question in the short period of 55 years. It is to be borne in mind, however, that in the administration of mineral rights, the question "Will it pay?:' is of primary importance. What forms a mineral estate ? A former practice in western Canada in selling lands was to sell the hair with the hide. All transactions sold the lands in fee simple, which included all mines, minerals and rights and privileges whatsoever, excluding only the royal metals, gold and silver, which by imputation, though not by specific reference, in deeds. of title are reserved to the Crown. At that time the country was in the first ?stages of settlement and the value of our mineral resources was hardly appreciated and little understood.

Jan 1, 1923

By Stuart J. Schofield

Introduction The study of the ore deposits of British Columbia is one of fascinating interest not only from a scientific but also from a commercial standpoint and certain wide problems in connection therewith have interested me for some years. Several of these problems have been set forth in papers presented before this Institute on previous occasions. In 1918 it was pointed out that the commercial ore deposits of British Columbia, with one exception, were associated with the granodiorite batholiths of upper Jurassic age. This was followed, in 1922, by a discussion of the ore deposits of British Columbia in which the mineral belts of the province were defined and named, showing a zonal arrangement of ores in which the Pacific coast deposits are characterized by the presence of copper, while the interior belt is marked by the presence of silver, lead, and gold. Methods Of Investigation In reading various reports on the economic geology of British Columbia one is struck with the fact that the mineral veins may be arranged as a system and further examination will show that such a system follows two main directions, one northeasterly and the other northwesterly, both related in origin to the same force.

Jan 1, 1925

By E. P. Evoy, A. W. Jolliffe

"The Uranium deposit of Gunnar Mines, Limited, is on the south shore of Crackingstone peninsula in the Beaverlodge area of northern Saskatchewan.The ore consists of disseminated pitchblende and uranophane in brecciated syenite, and forms a tubular or pipelike body, outcropping at the surface and plunging southward at about 45 degrees for a known length of1,400 feet (see Figure I). The upper portion is being removed by open-pit mining to a depth of 300 feet below adjacent Lake Athabasca. The remainder will require underground mining methods (see Figure 2).The property was staked in July, I 952, and the orebody was subsequently defined by about 70,000 feet of diamond drilling. A 1,250-ton mill was completed in 1955, and production commenced in September of that year with ore from the open-pit operation. The mill is presently being increased to 1,650 tons capacity, and a three-compartment vertical shaft is being sunk to 1,250 feet in preparation for underground mining.GeologyThe mine property is underlain by an assemblage of Precambrian metasediments known locally as paragneiss, granite-gneiss, and syenite. These lie on the southeast limb of a southwest-plunging anticline, strike about north 75 degrees east, and dip southward at about 45 degrees. Para- gneiss outcrops in the northwestern half of the claim group, and again on the islands south of St. Mary's Channel. The granite-gneiss lies conform-ably within the paragneiss and makes up the southeastern part of the property. The syenite forms an irregular, triangular-shaped mass within, and near the footwall of, the granite-gneiss band. Small lenticular bodies of mafic rocks are also present, the former being most prevalent in the paragneiss.The granite-gneiss is coarse to medium-grained, pink to grey, well foliated, and composed of feldspar (65 per cent), quartz (20 per cent), chlorite, and minor mica. The general concordance of its contacts with paragneiss and the absence of intrusive relationships along these, the presence of uniformly oriented inclusions of obviously sedimentary origin within the granite-gneiss, and the variation in colour and texture across the strike all strongly suggest that this member represents a granitized sedimentary rock."

Jan 1, 1949

By G. M. Humphrey

It is a great honour and privilege to be here in this distinguished company of the outstanding men in the mining industry and the political life of Canada. I fully recognize that I am so honoured as a symbol of the combination of American and Canadian leaders in industry who are partners in the sponsor-ship of the Quebec-Labrador iron-ore mining development which we are undertaking, and as such I want to express our great appreciation of the co-operation and assistance we have met on every hand in Canada, and the genuine friendliness and never-failing courtesy which we are always accorded. We are quite aware that it springs primarily from the very high regard in which our partner and sponsor, Jules Timmins, and our other Canadian associates are held. Their high standing among you is well known and we quite naturally fall heir to the benefits of the great esteem in which you hold them. Jules Timmins and his long-time associate, John Knox, were the original inspiration for our participation in this venture. It was their enthusiasm and vision which caught our interest and led to our joining with them in the years of exploration and search which have brought us to the threshold of this great development where we stand today. So much has been written of the details of our exploration and plans for future development that it would bore you for me to review them further here, but there is a phase of this development, and an extremely important phase of it, which I think has passed almost unnoticed and which it may be well worth while for me to bring to your attention this evening.

Jan 1, 1951

By H. Clare Horwood

"In the Red Lake area in northwestern Ontario the relationships between general structures and structures containing ore deposits are among the most unusual and most interesting of any in the Precambrian Shield. The more important orebodies, which are in the central-eastern part of the area, occur in a variety of rocks on the northeastern, eastern, or southeastern sides of a series of granite stocks. Other deposits in the western part of the camp also are structurally associated with granite masses .The relationships were determined in the course of general and detailed geological mapping by detailed analyses of the fracture patterns in the rocks adjacent to the orebodies. In every case it was found that the structures containing the ore were produced by compressive stresses from the direction of intrusion of the granite masses( 2).The Red Lake area lies in the Patricia part of the district of Kenora and is accessible by boat from Hudson or by airplane from Kenora, Sioux Lookout, or Winnipeg. A road from Vermilion lake, on highway No. 17, was opened in August, 1947.The first discoveries of mineralization in the area that proved to be of economic importance were made in 1925 by Lorne Howey and George McNeely for Haileybury interests and by Ray Howey and W. F. Morgan for Mcintyre-Porcupine Mines, Limited. Both prospecting ventures were organized because of information presented by Bruce(l) in his map and report for the Ontario Department of Mines. The discoveries, which were both along the same structure, a quartz porphyry dyke, later developed into the Howey and Hasaga gold mines. Other discoveries were made at intervals as a result of prospecting and development work on ground staked for its location."

Jan 1, 1954

By J. Edwin Van Buskirk

For a country that is as important a gold producer as Canada, the return to the gold standard of the major commercial countries of the world during the past five years is of particular significance. To the Canadian gold mining industry, the advantages of the gold standard are a matter of more than theoretical importance. According to economic theory, prices are determined by the relation between the demand for, and the supply of, money. The demand consists of the offering of goods for money; the more goods offered, the greater the demand. The supply consists of the total money available for the purchase of goods. The total supply of goods to be exchanged through the instrumentality of money remaining the same, an increase in the supply of money will, according to this theory, raise prices; conversely, a decrease in the supply of money will lower prices. Let us imagine that everyone in the world suddenly had twice as much money, and that the sum total of all goods remained the same. Is it not obvious that we would pay just double the price for these goods? In Canada today, most people have approximately 50 per cent grea.ter income than in 1913, and the average price for all articles sold in Canada is 50 per cent above those in 1913.

Jan 1, 1928

By J. A. H. Church

My paper entitled "Spontaneous Combustion of Coal in Mines;" read some time ago before this Branch, consisted chiefly of extracts from the British Blue Book dealing with the same subject. Fallowing my article, Mr. de Hart submitted a paper dealing with the application of existing methods of working in Alberta to the conditions obtaining in our bituminous mines. I must confess that the perusal of his paper did not enlighten me either as to what might be a method preferable to those in vogue or even to Mr. de Hart's ideas on the subject, nor did the ensuing discussion of Mr. de Hart's paper afford any great clarification of the problem. The outstanding idea, supplied by Mr. Dick, seemed to be that a retreating system could not be employed, as no operator would feel justified in risking the capital necessary to driving to the boundary when the whole might be jeopardized by a fire breaking out in the waste. That a fire would break out in the waste of any adit-level working seemed to be conceded by all, and with that I agree; that an ignited waste could not be safely sealed off by means of stoppings in a coal barrier-pillar appeared to be the contention of Mr. Dick, or perhaps he attributed this idea to the Mines Branch-anyhow, it seemed to loom over the discussion like a miasma. With this aspect I do not agree, as ? reliance is placed wholly on stoppings in the thick seams of South Staffordshire, even in fiery mines. In the thick coal at Exhall colliery, or elsewhere in Warwickshire (34 feet 4 inches) containing hard and soft coal in layers, a fire assuming serious proportions is sealed off. By the way, retreating long-wall methods are employed. In Fifeshire, sealing off fire in the Dysart mine has been accomplished successfully. The seam averages about 20 feet thick.

Jan 1, 1924

By W. M. Tupper

Municipal governments recognize the importance of aggregates in the local economy and the need to manage this resource in the interest of the public good. They have encountered problems with regulating the industry and the dichotomy between the urban need and the rural source. They have suffered from a lack of financial benefit, an adequate aggregate inventory, provincial strategy, economic information and public understanding. A provincial strategy for ensuring the availability of aggregate supplies to developing areas of the Province is essential. The Province should also be responsible for licensing, research, technical expertise on rehabilitation, public education and financial assistance. Upper-tier municipalities (regions or counties) should assume responsibility for resource management, including resource availability, demand characteristics, truck routing, phasing of resource development and sequential land-use planning. Area municipalities (towns and townships) can best determine the social and environmental impact of a specific aggregate development proposal and should therefore have the primary responsibility for the location of new pits and quarries. They should also have the authority to supplement provincial regulations concerning operating standards and the phasing and standards of site rehabilitation.

Jan 1, 1978

The teaching of geophysics in Canada at the present time presents a variety of approaches to the subject, and the different paths adopted imply, in turn, an uncertainty in the minds of some educators as to the role this science is to play in the future progress of geology, and a hesitancy to commit themselves to foster its development. The pedagogical attitudes vary from a whole-hearted acknowledgment that the science of geophysics is fundamental to the understanding of terrestrial phenomena (including, of course, geological processes) to a hesitant immersion of the toe to test the water's temperature (which is, of course, essentially a geophysical experiment) before deciding whether or not the time is ripe for total immersion. The present discussion has been organized in the hope that it will help to clarify the roads to geophysics and assist educators in making a more understanding choice of the best paths for them to follow, according to their particular requirements and objectives. Before proceeding further, however, it is necessary to define the term geophysics and circumscribe the field it covers. In the first place, it should be emphasized that geophysics is NOT confined to the art of geophysical prospecting. The popularization of geophysics has unfortunately engendered a general misconception of the word, and consequently a tendency to ignore the wider meaning of the term. Etymologically, geophysics means the physics of the earth. It is so understood by the International Union of Geodesy and Geophysics and the various geophysical societies which adhere thereto. To them, geophysical prospecting is but a very small field indeed, which they consider had best be left to engineering and prospecting organizations.

Jan 1, 1951

By F. Richards

"The property of the Cariboo Gold Quartz Mining Company; Limited; is in the Wells-Barkerville district of Cariboo mining division. It consists of a group of 106 Crown granted mineral claims and fractions; and extends for over 6 miles along what is termed the Barkerville gold belt. The main portal and mine camp are half a mile south of Wells; which lies at the northeast end of Jack of Clubs lake and is reached by a 55-mile motor road from Quesnel; the northern terminus of the Pacific Great Eastern railway.Gold-bearing quartz veins were discovered on the surface in various parts of the property by different prospectors as far back as 1877, but the work that led to the formation of the present company was performed by Al Sanders in the year 1926. Sanders dug trenches and drove small adits on quartz veins containing gold above what is now known as the Sanders zone. Very little underground work has been done beneath the earliest known discovery-the B.C. vein. The Cariboo Gold Quartz Mining Company was formed in the autumn of 1926. The total production of gold from its beginning in 1933 to the end of 1944 has been as follows:"

Jan 1, 1954

"One of the corporate values mentioned by many companies deals with respect for people. This paper discusses one aspect of this value, namely, the need for clarity of accountabilities and authorities. The job of the manager in achieving this goal is analyzed and the benefits of enhancing the manager-employee conversation outlined. IntroductionCorporate values usually refer to the standards of behaviour that the leaders of the organization expect of all employees, including themselves, in carrying out their duties. Terms such as integrity, respect for the individual, continuous improvement, continuous learning, teamwork, speed, and innovation are quite common. The company-specific values are typically developed by the top executives of the company, and then tested with a broader group of employees. Where the process works, employees have a good understanding of what behaviour is expected of them in doing their work, in making difficult decisions, and in interacting with others.Having spent considerable time in his career investigating and studying the management systems at over 50 of the most successful companies in Canada, the United States, Europe and Japan, the author has had the opportunity to visit organizations such as Hewlett-Packard, 3M, Xerox, Intel, Toyota, NEC, Komatsu, British Airways, and Eastman Chemical. These experiences, together with the work of many other researchers, including the work of Dr. Elliott Jacques, have helped significantly to form the thoughts expressed below.Rather than reviewing the creation of corporate values and their deployment through the organization, these remarks focus on issues over which managers and employees have some control. The value in which managers can have significant impact deals with people and the respect shown them in the workplace. The component of respect to be emphasized is to be clear about expectations or accountabilities for oneself and the people who report to you, and to ensure that personal authority matches those expectations."

Jan 1, 1999

By C. W. MacLeod

LOCATION The Goudreau gold area in Ontario extends from a point a short distance south of the main line of the Canadian Pacific railway, at Lochalsh, in a south-westerly direction to the Magpie river. It crosses the Algoma Central & Hudson's Bay railway at Goudreau station, 177 miles north of Sault Ste. Marie. The area is roughly 25 miles in length by 6 miles in width. The potential gold formation is much more extensive but little prospecting has been done outside of the limits mentioned. The actual continuous area of Keewatin formation, in which gold has been found, is one of the largest in Ontario. ACCESSIBILITY Probably no mining area in a similar stage of development has had the excellent transportation facilities which Goudreau enjoys. This field is traversed in part by the main lines of the Canadian Pacific and Algoma Central railways. The Provincial Government has constructed 22 miles of road through the heart of the camp. Sixteen miles of this road is suitable for motor car traffic and several cars and trucks are in constant service.

Jan 1, 1926

1. Scientific prospecting has had a profound and some-what unexpected effect on the world's supply of raw materials over the past twenty years. Where shortages were recently anticipated, abundance now prevails. It seems probable that, for the foreseeable future, adequate metallic resources will be found at costs well within the world's economic means. 2. The amount of research devoted to scientific prospecting has been extremely small in relation to the possible importance of the problem and to what could be done. It has been dominated by the thought of a dozen brilliant men, and true research expenditures have not amounted to more than a few million dollars. 3. An undue proportion of the expenditures have been for so-called geological research -mostly of a petrologial character. The results have essentially been of historic interest only. However, there has been some in-crease in genetic understanding, and this is of great importance for future resources. 4. Basic advances in mineral exploration have been made in detection techniques, generally called geophysics and geochemistry.

Jan 1, 1964

By T. Patching

"A GLANCE BACK AT what has happened in the past is often a useful guide to the future, although it should be used mainly to provide a sense of direction rather than a map that must be followed. As a preamble to discussing some of the questions posed by the organizing committee it may be appropriate to briefly review the distribution and careers of the graduates of our Department since the first degree in mining engineering was awarded in 1916. An attempt has been made to keep a record of the locations and careers of the Department's 540 graduates in mining and metallurgical engineering. Almost all of those who graduated before 1930 have now retired, but a very large proportion held positions as senior executives prior to retirement. A major proportion of those who graduated before 1950 are now in what might be considered senior management positions. Those who have 10 to 20 years of experience are generally in work of senior engineering responsibility or in supervisory or junior management ranks, while those who graduated in the last ten years appear to be generally in staff engineering or junior supervisory positions. This classification is admittedly imprecise because it is difficult to determine from a job description whether duties should be considered of an engineering or management nature - a distinction between the two terms is often over-emphasized. Nevertheless, the trend from technical engineering to management responsibilities with seniority and years of experience is clear in the careers that we have been able to follow."

Jan 1, 1972

By M A. Notte

Sand casting of steel is a process that offers the greatest design flexibility and highest metallurgical versatility. However, competition from other methods of fabrication is quite keen, constantly forcing the steel casting industry to the production of better quality castings at lower costs. New methods and materials have been put to use in the last ten years by foundries everywhere. This paper, in the form of a progress report, deals with new methods, processes and materials used by Canadian steel foundries for regular production, as well as with developments still in the initial but promising stages. T HE casting of steel to shape is the most direct method of producing steel parts in their final form. It is a basically economical process both as to cost and production time; it is also a process that offers design engineers the greatest flexibility and highest metallurgical versatility. In North America, the steel casting market has a normal yearly sales volume of 1,500,000 tons. In decreasing order, the largest customers are the railroads, construction machinery and earth-moving

Jan 1, 1965

By M. B. McClenaghan

"The Matheson area of northeastern Ontario is of great interest for mineral exploration because of its geological similarities with the adjacent Timmins, Kirkland Lake and Larder Lake gold camps. Exploration in the area, however, is hampered by the presence of an extensive and thick cover of glacial sediments. For this reason, till geochemistry has become an important exploration method. The Ontario Geological Survey&apos;s Black River-Matheson (BRiM) reconnaissance till sampling project, carried out between 1984 and 1988, was designed to aid exploration in the Matheson area by documenting the Quaternary stratigraphy and providing a database of till geochemistry. Till samples were collected by backhoe trenching of surface pits in areas of thin drift (< 5 m) and by sonic overburden drilling in areas of thicker drift. This paper summarizes the results from the shallow till sampling component of the BRiM project.Two hundred and eighty-two surface samples were collected from Matheson Till, the youngest till sheet in the area, which was deposited during the Late Wisconsinan. For each sample, the non-magnetic heavy mineral (> 3.3 S.G.) and fine (- 250 mesh) till fractions were analyzed geochemically. In addition, visible gold grains were recovered by panning the heavy mineral fraction. Five areas that display multi-element anomalies in both till fractions warrant further investigation: (1) western Egan Township, overlying the Bradley Lake Syenite; (2) around and south of the Munro and Croesus mines, in Munro and Guibord townships; (3) central Garrison Township overlying the Garrison Stock; (4) south of Ore Car Lake in northern Thackeray Township; and (5) southeastern Harker Township. In these areas, Matheson Till has a local provenance and the bedrock sources for these anomalies are nearby in the up-ice (north northwest) direction. Due to the fine-grained nature of gold in bedrock deposits in the BRiM area, the small size of most gold grains recovered from till samples (< 50 um) and the variable distribution of gold in the heavy mineral concentrate and fine fractions, the fine fraction in addition to the more commonly used heavy mineral concentrate should be used for gold exploration.Surface till samples have been affected by weathering to a depth of = 3 m. Weathered till is characterized by a very low carbonate content in the matrix fraction, the absence of sulfide grains in the heavy mineral concentrate and higher concentrations of copper, nickel and zinc in the fine fraction than in the heavy mineral concentrate. As a result of the weathered/ oxidized nature of the surface till samples, the fine fraction is a better sampling medium for base metal exploration."

Jan 1, 1992

By V. A. Chanturiya, T. N. Matveeva, N. K. Gromova, T. A. Ivanova

"The research is aimed at solving the problem of increasing the extraction of gold from refractory ores, which are the main source of growth in gold production in the next decades. The purpose of the research is the development and scientific substantiation of the reagent modes for flotation extracting of gold from refractory ores using eco-friendly low-cost herbal modifiers (HM), providing increase in gold recovery and quality of gold concentrates. In the course of research laboratory techniques for the preparation of experimental samples of HM were developed, which included the sequence of operations of grinding Heraclium leaves and stems grinding, 2-stages extraction at a temperature of 50-60 °C, short-term ultrasonic treatment, filtration and subsequent unification of extracts. According to the developed method, the experimental samples of HM and conducted research were tested to analyze their sorption and flotation activity related to the extraction of gold from refractory gold ores.New data on adsorption and flotation properties of Heraclium stems and leaves extracts (HSE) in selective flotation of Au-sulfide minerals were obtained using UV-spectroscopy, scanning electronic and laser microscopy and atomic force microscopy. The dimensions and shapes of adsorbed hydrophilic films of herbal reagents were identified and mechanism of formation of stable insoluble compounds on the surface of minerals in flotation was explained.Research flotation tests carried out on samples of refractory gold ore of one of Russia deposits showed the possibility of effective use of herbal modifiers to improve qualitative and quantitative indicators of enrichment compared with the standard reagent regime. New reagent modes, using herbal modifiers in an amount of 5 to 10 ml of the extract (300 - 600 g / t, respectively) improves the quality of the concentrate: gold content attains 14.7 g / t, 1.34 times higher than in the baseline experiment and provides a gain of 3.13% extraction.The developed reagent regime with herbal modifiers is the author's original design, patented (patent of the Russian Federation) and have no analogues in the world of mineral processing. (Application number 2015116125 from 04.28.2015, ""The method of flotation separation of sulfide minerals using herbal modifier"", Russia). Actual application of new plant extracts as modifiers in flotation of sulfide minerals is the possibility of replacing of highly toxic chemical compounds by environmentally safe substances of plant origin. Implementation of the developed methods of extracting gold from refractory minerals with herbal modifiers will help to improve gold recovery at 3-5% and the quality concentrate of not less than 1.2 times, leading to higher productivity and a reduction of the negative man-made effects on the environment ."

Jan 1, 2016

By W. S. McDonald

PRACTICALLY all dusts derived from organic matter are explosive and instances are recorded of explosions-some of them extremely violent-having occurred in grain elevators and flour mills. While a discussion of the explosibility of dusts in general, doubtless, would be of more than academic value, it will be of greater interest, on this occasion, to consider various phases of the problems connected with the hazards arising from coal dust. Extensive and valuable research has been carried out during the past few decades on the subject of coal-dust explosions and a great part of this work has been concerned with the preventive effect of stone or other incombustible dusts. Four men have been outstanding in this very substantial achievement. The first is Dr. W. Galloway, who succeeded in demonstrating by experiments that one pound of coal dust mixed with 150 cu. ft. of air formed an explosive mixture. The next is Sir W. Garforth, who proved that stone dust is an effective preventive for coal-dust explosion. The third is G. Haon, and last but not least, L. G. Hill, both of whom laboured incessantly to produce a suitable stone-dust and a satisfactory method of application. Today, mining men all over the world are satisfied and convinced that stone dust, if properly applied, will prove effective in greatly minimizing, if not completely preventing, explosions of coal dust, as has been demonstrated in experimental mines, as well as in actual explosions, in practically every coal mining industry.

Jan 1, 1938

By A. W. White

Introduction To discuss all the technical details of incorporation laws, security laws, underwriting procedures, codes, and ethics-as laid down by varous associations -would be impossible in the time which has been allotted to me. My remarks, therefore, will be made in a very general way and will naturally be coloured with experiences which my firm and I have had. There is a common expression that "money makes the mare go". I hardly have to mention here that the best prospect in the country is of very little value unless its prospects can be developed-and this requires large capital expenditures. The art and problems surrounding the raising of this money is a long and interesting story. Since by its very nature mining is risky, the appraising of its risks in the many phases of its development programme is continuous. Very few men-if any-and very few corporations -if any -can afford to take all the risk of mining. Because of taxation policies-and the very scheme of present-day living -the truth of this statement can be seen throughout the whole industry by a close examination of the records. Since this is so, it is essential that the mechanics of distributing risk on a sound, and equitable basis be known to those engaged in the business and to the investor or spectator who proposes to risk his funds in the industry. Perhaps the greatest stimulant to modern business activities has been the creation of corporate bodies. It is evident, from the number of charters being granted by various jurisdictions, that this method of doing business is becoming more and more important. A limited company -or corporation-can be defined as a fictitious person existing solely in contemplation of the law.

Jan 1, 1951