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Story
February 1, 1908
The Goldfield News
Goldfield, Esmeralda County, Nevada
What is this article about?
The Homestake Gold Mining Company resumes 50-cent per share dividends on January 25 after a spring fire shutdown, with monthly payments since 1877 except recent passes. The mine has 30 million tons of ore in sight, extensive equipment, and is called the world's greatest gold mine.
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THE GREATEST GOLD MINE
The Homestake Gold Mining company has resumed the payment of dividends, after a discontinuance of them since last spring when a fire in the mine caused a shut down of mines and mills, and which resulted in a heavy expense to the company. The recently declared dividend is of 50 cents per share, payable January 25. With the exception of the dividends passed since last May, the Homestake has paid dividends monthly since 1877, also paying many extras within this time. The mine is said to have 30,000,000 tons of ore in sight, that is now easily available, and a much larger amount probably exists that has only been developed by shafts, the drifts and crosscuts necessary to block out the ground having not yet been run. The property has now 1,000 stamps in six mills, and the company is considering the advisability of adding 200 more to the equipment. It owns miles of canals, pipe lines and flumes; has valuable water rights; the largest cyanide plant in the world, and there are now broken in the mine over 1,000,000 tons of ore ready to hoist and send to the mill.
The Homestake is the greatest thing in the way of a gold mine that the world has yet produced.—American Mining Review.
The Homestake Gold Mining company has resumed the payment of dividends, after a discontinuance of them since last spring when a fire in the mine caused a shut down of mines and mills, and which resulted in a heavy expense to the company. The recently declared dividend is of 50 cents per share, payable January 25. With the exception of the dividends passed since last May, the Homestake has paid dividends monthly since 1877, also paying many extras within this time. The mine is said to have 30,000,000 tons of ore in sight, that is now easily available, and a much larger amount probably exists that has only been developed by shafts, the drifts and crosscuts necessary to block out the ground having not yet been run. The property has now 1,000 stamps in six mills, and the company is considering the advisability of adding 200 more to the equipment. It owns miles of canals, pipe lines and flumes; has valuable water rights; the largest cyanide plant in the world, and there are now broken in the mine over 1,000,000 tons of ore ready to hoist and send to the mill.
The Homestake is the greatest thing in the way of a gold mine that the world has yet produced.—American Mining Review.
What sub-type of article is it?
Historical Event
Curiosity
What themes does it cover?
Triumph
Fortune Reversal
What keywords are associated?
Homestake Mine
Gold Dividends
Mining Fire
Ore Reserves
Cyanide Plant
Where did it happen?
Homestake Mine
Story Details
Location
Homestake Mine
Event Date
Payable January 25; Since 1877
Story Details
Homestake Gold Mining Company resumes dividends after fire shutdown, with vast ore reserves, extensive milling equipment, water rights, and largest cyanide plant; hailed as world's greatest gold mine.