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By Charles G. Maier

It has long been supposed that when crystalline materials are comminuted the energy used in the production of increasingly smaller grain sizes is not entirely dissipated as heat but that a certain portion is "stored" as a part of the internal energy of the material. This portion usually has been called the "surface energy" of the particles. The practical interest of the Bureau of Mines in this subject in connection with the energy requirements of crushing processes has led to the author's attempt to measure the "stored" energy in finely divided calcite by heat-of-solution methods1.t The experiments on calcite showed that "storage" of energy could not be proved for this material, because fine grinding caused a lack of chemical homogeneity evidenced by loss of carbon dioxide and subsequent adsorption of water on the surfaces of the calcite particles. When thermochemical correction was made for composition changes the corrected heat of solution was less for fine material than for coarse. Continuation of the experimental work into the problem of comparing work and heat in the deformation of metallic crystals, where the calorimetric difficulties were less, showed, however, that in the case of copper and aluminum a real discrepancy between work and heat could be shown. Similar results had previously been obtained by Farren and Taylor2 and Hort3 and more or less simultaneously with the author's work by Rosenhain and Stott4 and by Taylor and Quinney9 The results obtained by the different investigators were not satisfactorily consistent, but the experiments of Taylor and Quinney constitute by far the best figures obtained to date. The previous paper1 presented evidence to show that if energy is stored in the surfaces of crystals the densities of fine crystals should differ

Jan 1, 1936

By S. F. Emmons

The history of the mining region of Custer county has been somewhat peculiar. Although, in the broader features of geological structure, it bears a strong resemblance to its newer and now more famous neighbor, 40 miles to the northward, the Cripple Creek mining district, it has been noted for failures rather than for successful mining ventures. Yet it has a number of mines that have proved themselves to be remarkably rich, and many others that have well-defined veins and very rich ore, though they never have been worked to any great depth. A few of the deposits seemed to the early miner so anomalous in form and manner of occurrence that they were popularly described as " contrary to all geological laws." The region has had several " booms," succeeded by more than usually violent reactions, the latter having proved more permanent than the former. It was, for a long time, the favorite resort of patent-process mongers, and the ground is now strewn with relics of various unsuccessful reduction-plants. Mismanagement, ignorance and disagreements among mine-owners seem to have been quite as responsible for the want of success in the region as the quality of the ores or the form of the deposits. In the early eighties, when the booms had not entirely died out, a division, then under my charge, of the U. S. Geological Survey, undertook an examination of the region for the purpose of making a study of its ore-deposits. The areal survey was carried to completion by Mr. Whitman Cross, but the study of the mines could never be completed for the reason that most of them were closed, for one reason or another, before we had time to visit them. From time to time, one or another of the important mines has been started up again, but it was not

Jan 1, 1897

By A. B. Calhoun

These mines, which belong to the Burma Corporation, Ltd., formerly a London company now incorporated in Rangoon, Burma, are situated in the semi-independent state of Tawng-Peng, one of the small divisions comprising the northern Shan states and erroneously known as part of Upper Burma. Bawdwin is approximately 23' 6' N. latitude and 97" 20' E. longitude, 450 miles north of Rangoon, 169 miles northcast of Mandalay and 50 miles south and west of the Province of Yunnan, China (see Fig. 1). Although the mines were worked by the Chinese during the Ming Dynasty, 1412 A. D., the most extensive operations took place between 1796 and 1851, when the mines contributed largely to the silver market of China. During the reign of Tung Chik, 1868 A. D., they were abandoned partly because of the Mohammedan rebellion in Yunnan, which made life and property insecure, but largely because of the difficulty of operating the mines on account of water and poor ventilation. Since that time practically nothing was done, although the Burmese kings are said to have made several sporadic attempts to work the mines, until 1891 when Europeans were attracted by the great slag dumps (assaying about 40 per cent. lead) which the Chinese had left after extracting the silver. After a railroad and smelter had been built and 200,000 to 300,000 tons of slag smelted for lead, exploration work was started and old workings cleaned out in order to locate the remnants of the orebody that it was supposed the Chinese had left. After two years of most discouraging work, the remains of a large orebody was discovered by the Dead Chinaman Tunnel or what is the 171-ft., or No. 2 level adit. From then on the development was rapid and today the Chinaman is considered one of

Jan 1, 1923

By W. C. Snow

The plant of the Electrolytic Zinc Company of Australasia Limited, situated at Risdon on the estuary of the River Derwent, near Hobart, was designed and erected primarily to produce high-grade zinc from zinc concentrates produced by the mines of Broken Hill, N. S. W. Consequently the metallurgy of the process has been influenced in its development by the peculiar characteristics of the Broken Hill concentrate, which on treatment gives into solution relatively large amounts of cobalt, manganese and silica. The Risdon works (Fig. 1) produces high-grade electrolytic zinc, leaded electrolytic zinc, zinc dust, cadmium, sulphuric acid and superphosphate. This paper, however, is concerned only with the zinc plant and process. Roasting The roasting of raw concentrate is not a major feature of Risdon's process, and in this respect practice is unlike that of most zinc plants. The roasting is mostly done on the Australian mainland at centers where the sulphuric acid made from the roaster gases can be used for superphosphate manufacture. A small amount, approximately 40 tons per day, is roasted at Risdon, acid being manufactured from the gases. The amount that can be roasted there is limited by the acid requirements of the zinc plant and of the superphosphate plant. Roasting is not carried to completion at the mainland plants, and the product, known as preroast calcine, largely constitutes the raw material for the Risdon zinc plant. It contains about 6 per cent of sulphur as sulphide. Roasting is completed at Risdon for reasons that are set out later in this paper. The zinc plant proper is divided into four main divisions: (1) final roasting division, (2) leaching and purification division, (3) electrolytic division, (4) melting and casting division. There are two subsidiary divisions—the cadmium division and the preroast, acid and superphosphate division.

Jan 1, 1937

By Geoffrey Gilbert

The material that forms the basis of this paper was collected in the spring of 1922, during a ten-day visit to Ducktown by the writer in the company of Prof. L. C. Graton. The time available for the work was far too short to allow anything like a thorough study of the deposits, and structural and stratigraphic questions, though they have an important bearing on the origin of the primary ores, were necessarily left untouched. Attention was focussed on the zone of oxidation and enrichment; and by devoting most of our time to the upper levels, open pits, and old workings, and examining the deeper levels only thoroughly enough to obtain a fair idea of the nature of the primary sulfide ore, we were able to make a reasonably complete survey of the various orebodies. With this field work for a background, the writer later made a study, in the Harvard laboratories, of the specimens obtained during the visit. As some of the facts brought to light by this study appear to be new, it seems worth while to set forth the outstanding features and a proposed explanation of them. Much of the Ducktown material that is obviously of greatest significance, as regards oxidation and enrichment, is soft and crumbly. Notwithstanding the desirability of gaining from such material all possible information as to its mineral composition and textural relationships, but little has heretofore been learned regarding it; but, by suitable preparation of this material in connection with the present study, it has been possible to examine it under the microscope without any disturbance of its texture and about as satisfactorily as if it were hard, fresh ore. The information thus gained has contributed measurably to the results set forth in this paper.

Jan 1, 1924

By A. B. Calhoun

These mines, which belong to the Burma Corporation, Ltd., formerly a London company now incorporated in Rangoon, Burma, are situated in the semi-independent state of Tawng-Peng, one of the small divisions comprising the northern Shan states and erroneously known as part of Upper Burma. Bawdwin is approximately 23' 6' N. latitude and 97" 20' E. longitude, 450 miles north of Rangoon, 169 miles northcast of Mandalay and 50 miles south and west of the Province of Yunnan, China (see Fig. 1). Although the mines were worked by the Chinese during the Ming Dynasty, 1412 A. D., the most extensive operations took place between 1796 and 1851, when the mines contributed largely to the silver market of China. During the reign of Tung Chik, 1868 A. D., they were abandoned partly because of the Mohammedan rebellion in Yunnan, which made life and property insecure, but largely because of the difficulty of operating the mines on account of water and poor ventilation. Since that time practically nothing was done, although the Burmese kings are said to have made several sporadic attempts to work the mines, until 1891 when Europeans were attracted by the great slag dumps (assaying about 40 per cent. lead) which the Chinese had left after extracting the silver. After a railroad and smelter had been built and 200,000 to 300,000 tons of slag smelted for lead, exploration work was started and old workings cleaned out in order to locate the remnants of the orebody that it was supposed the Chinese had left. After two years of most discouraging work, the remains of a large orebody was discovered by the Dead Chinaman Tunnel or what is the 171-ft., or No. 2 level adit. From then on the development was rapid and today the Chinaman is considered one of

Jan 1, 1923

By Henry Lloyd Smyth

In 1891-92 1 was entrusted with the geological survey of part of the large area lying between the Marquette and Menominee iron-ranges in the Upper Peninsula of Michigan, and extending from the Republic trough on the north, through portions of the valleys of the Michigamme and Fence rivers, to and including the intermediate Felch mountain range on the south. Until a few years back the larger part of this area has been very difficult of access, and much of it is difficult still. The rock-surface is for the most part covered with swamp, forest and glacial deposits of various kinds, and therefore has not invited geological study. For these reasons the district, as a whole, with the exception of the Felch mountain range, remained almost unknown from a geological standpoint until our work in 1892. Our main object was to map the pre-Cambrian rocks, particularly the iron-bearing formations of Algonkian or Huronian age, and to obtain as much information as possible with reference to their sequence and structure, In carrying out this purpose, the use of simple magnetic instruments was found to be of the greatest assistance, and indeed indispensable. In this paper the results of our experience in tracing magnetic rocks by means of the disturbances produced in these instruments, have been brought together in systematic form, with such references to the particular area as are necessary in order to illustrate general principles, with the hope that they will prove useful to other workers in the same region, or in other regions where similar conditions may be encountered. The writer was efficiently aided in the field-work by Messrs. Samuel Sanford and Charlea N. Fairchild for nearly the whole period, and E. B. Mathews and H. F. Phillips for part of it,

Jan 1, 1897

By E. H. Jr. Dix

DURING an investigation of high-strength manganese bronze by the Engineering Division of the Air Service, at McCook Field, Dayton, Ohio, particles of a "blue constituent" were noted in the microstructure of most of the bronzes examined. The constitution of the simple copper-zinc base alloy is still a matter of dispute in spite of the fact that the copper-zinc series is one of the oldest industrially important groups of alloys, and has received the early consideration of scientific research. The diagram, according to the most recent work,1 is shown in Fig. 1. The disputed questions involve the termination of the beta field and the line at 470° C. The earliest experimenter, Roberts-Austin, detected an arrest in some of his cooling curves at approximately this temperature and ascribed them to the formation of a eutectic; it has since been proved that there are no eutectics in this series. Shepherd2 was unable to detect any thermal arrests at this temperature; his diagram was essentially as shown in Fig. 1, except that the line at 470° C. was omitted and the beta phase carried down to normal temperatures. Later, Carpenter and Edwards,3 by a very painstaking research, definitely established the authenticity of the line but attributed it to the breakdown of the beta constituent into a eutectoid of alpha and gamma. Microscopic evidence of the formation of the eutectoid is doubtful and it seems more likely to be due to an allotropic change in the beta constituent as shown by Fig. 1. At least for practical purposes, it is more convenient to think of the structure of a 60-40 brass as a mixture of alpha and beta prime crystals rather than alpha plus an unresolvable eutectoid of "apparent beta" as it has often been called.

Jan 5, 1922

By Robert Mehl

IN examining the progress of metallurgical science, the critic must remember that most of our present knowledge of metals and alloys has been accumulated through the needs of industry and commerce rather than through the desire and efforts of a large body of scientists interested primarily in developing a science of metals. The progress of metallurgy, scientifically speaking, has been irregular, and little given to the exhaus-tive exploitation of important scientific fields. The experienced engineer now recognizes the need for the development of the basic science upon which his engineering rests. In addition to the increase in knowledge which results from the normal requirements of industry, a development of the basic science of the behavior of metals and alloys is as desirable in metallurgy as in any other branch of science and engineering. The continued growth of the science of metals-as of every other science-requires studious attention to the principles that underlie the behavior of matter, with the result that knowledge in the several fields of interest should continue to increase. Among the various subjects recognized as important in physical metallurgy few have a wider significance than that of diffusion in solid metals. The phenomena of diffusion are intimately related to many basic problems of the metallic state, but in addition to this, the process of diffu-sion is of first importance practically. The formation of alloys by the annealing of mixed powders, first practiced by Faraday and Stodart81 in 1820 and in more recent years investigated by Masing187,189 and others, has led to the development of special alloys like Carboloy, Vascoloy-Ramet, Genelite, Elcon68, and has recently been applied to the production of noble-metal alloys for electrical contacts"'.

Jan 1, 1936

By Lester A. Blackner

The Ray Consolidated Copper Co.'s mining property is located on Mineral Creek, 6 miles north of Kelvin, at Ray, Pinal County, Ariz. (Fig. 1). The mining claims now owned by the company consist of 126 lode claims, comprising 2,144.9 acres, containing at the beginning of operations 82,904,368 tons of 2.19 per cent. copper ore. General Characteristics of the Orebody The main orebody is a disseminated deposit in schist and porphyry formed by secondary enrichment. Its existence was proved by churn drilling, and it is at present one of the largest proved copper deposits in the world. The orebody itself covers 205 acres with an average thickness of 121 ft., and occupies a definite belt which has a northwest direction. Its length is approximately 5,000 ft. The width varies, being about 2,000 ft. at the west end and 2,500 ft. at the east, narrowing down irregularly from both ends to a few feet in the center. The thickness of the body varies greatly along the line of lode, ranging from a few feet up to 470 ft. thick. The ore horizon is not constant, but varies, following in a broad sense the topography. The body in general dips slightly to the northeast, and is broken up by numerous small faults and fractures. The ore-bearing formations, consisting of mineralized schist and mineralized granite porphyry, stand fairly well and offer no difficulty in mining operations. The bulk of the ore is chalcocite disseminated in schist. In places cupriferous pyrite is closely associated with the chalcocite. The mineralized gr'anite-porphyry forhations are contiguous to the ore-bearing schist. • Overlying the orebody is an oxidized zone of leached iron-stained schist, averaging 252 ft. in thickness, termed "capping." The Line of

Jan 1, 1916

By B. S. Butler

The principal ore deposits of Arizona are in the southern, cen-tral, and western portions of the state, which physiographically are part of the Basin and Range province, southwest of the Colo-rado Plateau (Pl. I). The Basin and Range province is characterized by numerous subparallel mountain ranges separated by plains or valleys. Most of these ranges trend northwest to north, parallel to the margin of the Colorado Plateau; but in southeastern Arizona, southern New Mexico, and northeastern Sonora, they trend northward, transverse too the edge of the Plateau. The mountains rise abruptly from plains or valleys, the margins of which in many places are pediments cut on hard rock. Some of the plains form closed basins (bolsons, playas), but most of them are drained. The Basin and Range province in Arizona is divisible into the Mountain Region and the Desert Region4 (Pls. I and II). The Mountain Region forms a belt 60 to 100 miles wide that contains most of the large ore deposits. Its longest range measures about 55 miles, the widest 20 miles, and the highest peak more than 10,000 feet above sea level or 7,000 feet above adjacent valleys or plains. Broad plain-forming valleys are exceptional, but several with maximum widths of 20 to more than 30 miles appear in the southeastern portion. In the Desert Region the mountains are relatively low, narrow, serrated, and steep, with sharply angular profiles. There are a few exceptionally large ranges of which the longest measures nearly 100 miles and the widest 18 miles. The highest peak is some 7,000 feet above sea level, and the maximum local relief amounts to about 5,400 feet. Broad and comparatively low desert plains form 50 to 75 per cent of the area.

Jan 1, 1939

Maryland was the third state to produce coal, and from the available information a small amount was mined each year after 1888, some of it being used locally but probably the larger portion being floated down the Potomac River. In 1798 some coal was used in the arms plant at Harper's Ferry, and while many of the records of this plant have disappeared, we know the tonnages delivered here from 1818 to 1837, the latter date being five years before the date usually given as the start of shipments. These data are shown in Table 54. In addition, some coal was used in an iron plant above Harper's Ferry, but the amount is not known. All of the coal to these plants came down the river, and for 1826-1830, both inclusive, some old canal records show coal passing through the canal at Great Falls, but practically all of the Cumberland coal used around Washington prior to 1842 was floated down the Potomac River during high water, and even at those times it was a precarious and dangerous business. After 1842, when the Baltimore & Ohio Railroad reached Cumberland, the records of shipments are unusually complete. The canal was completed to Cumberland in 1850, but its useful life terminated with the Civil War. The production records of this field are the most complete of any of the early coal mining states.

Jan 1, 1942

FOREIGN WAR RELIEF COMMITTEE Chairman, MRS. JESSE SCOBEY The task of the committee since Oct. 17, 1918, has been to stimulate and foster interest in the work of the Dispensary in France, to aid and further the work, and to that end has centered on the inauguration of an "Engineers' " day, once a week, at the headquarters of the American Fund for French Wounded, where members of the Auxiliary might join in sewing for this "Dispensary of the New York Section of the Woman's Auxiliary to the A. I. M. E.," recently established at Briey, France. Letters and pledge forms asking for workers were sent to all members of the Auxiliary in New York City and vicinity, and a most gratifying response has assured the success of the undertaking. The meetings in December, pending the completion of better working facilities at Fund headquarters, were held at the home of Miss Madeline P. Stone, to whom the committee extends its grateful thanks for her hospitality large, well-equipped room at Fund headquarters has now been assigned to the committee for Tuesday of each week, from 10 a. m. to 5 p. m., with Mrs. Percy E. Barbour of the committee as director of work room. All members of the Auxiliary and others whose interests are with the mining profession will be welcome on "Engineers'" day-Tuesdays-at 73 Park Ave.

Jan 2, 1919

By Geo. W. Goetz

The following tables show the analyses of ores from nearly all of the mines which will produce over 10,000 tons of ore each during the season of 1890. There are many small mines now in the course of development, some of which may become large producers. Many of the mines produce several different grades of ore, but the analyses given in the tables are fair averages of ore such as the respective mines can deliver. Most of these analyses were obtained from the agents of the respective ores, and are averages of the season of 1889. One can state positively that over 75 per cent. of all the iron-ores of the Lake Superior district will average over 60 per cent. of metallic iron. During the past 34 years this region has produced about 48,137,421 tons of ore, the different districts contributing about as follows: Marquette District,. 29,754,057 Menominee " .10,415,859 Gogebic " . 6,622,194 Vermilion " . 2,342,991 Miscellaneous,. .. .. 2,320 In the year 1889, the product of all the districts was nearly '1,300,000 tons. The product of the entire region for the season of 1890 may exceed 9,000,000 tons. This large amount of ore is shipped to the lower lake ports, from Escanaba, Marquette, Two Harbors and Gladstone.

Jan 1, 1891

By A. F. Banks

INTRODUCTION Selective flocculation as a method of desliming potash flotation plant feed has been in commercial use since November, 1974.l It was installed to replace a 1ess efficient mechanical desliming process. While most plants operating in the Saskatoon area of Saskatchewan were designed for 4% to 5% insolubles in practise the quantity and quality of the insoluble materials in the ore has been variable. The variability of the ore has contributed to less than optimum efficiency in the desliming and consequently, the potash flotation circuits. This lower than expected efficiency contributed to the commercialization of a patented process2 through large scale pilot plant testing. Referring to published information and experience, the application of selective flocculation-flotation of slimes to sylvinite ores will be compared with the more conventional mechanical methods of desliming. THE ORE The ore beds being mined in the Saskatoon area of Saskatchewan have proven to be much less uniform than originally thought (Figure 1). The insoluble content of the plant feed is variable in both quantity and quality due to two factors, the presence of disturbances and the structural weakness of the mud seams immediately above the ore beds. Some alteration of the insolubles in the vicinity of disturbances has made them more difficult to liberate and makes ore from the disturbed areas less amenable to treatment.

Jan 1, 1980

By E. R. Funk, H. Udin, J. Wulff

The surface tension of solid silver is measured by a refinement of the Udin, Shaler, and Wulff technique. The tests were made in a purified helium atmosphere at four different temperatures and various times. The average of the results is y = 1140 + 90 dynes per cm for the range 875° to 932°C. A SUCCESSFUL measurement of the surface tension of solid copper was reported by Udin, Shaler, and Wulff.' They performed experiments on copper held in vacuum within 100°C of the melting point. At these temperatures, the creep rate in 5 and 3 mil copper wires was sufficient to permit determination of a balance between the contractile force of surface tension and the extending force of small copper weights joined to the end of the wire specimens. By suspending a series of variously weighted specimens and measuring the change in a gage length during the test, the balancing applied load could be found. This point of zero strain is a measure of the surface tension. The mathematical formulation of this gives: w = r y [1] where w is the weight for zero strain; r, the radius of the wire; and y, the surface tension. A subsequent note by Udin pointed out that eq 1 applies only to single-crystal specimens. Since the specimens used revealed a "bamboo" structure upon

Jan 1, 1952

By John Hays Hammond

This is an era of "expansion;" and, conformably with the change in commercial conditions, the function of the mining engineer, as well as that of his confréres in many other professions, has also expanded. From the position of an engineer, limited to the determination of technical questions, the engineer of to-day has come to assume an economic importance in those branches of industry dependent upon engineering skill for their development. He is indeed an engineer of limited usefulness who does not go further professionally than to submit a purely technical report on subjects presented for his consideration. While he has the same responsibility as formerly in the solution of the technical problems involved, he is further expected to supplement his report with advice on the financial and commercial aspects of these problems. For the great majority of problems presented to the engineer ultimately involve the determination of the pecuniary relations of the propositions under consideration. The great corporation lawyer no longer earns his fee by merely submitting his opinion as to the legal issues involved in law-suits affecting the corporation; he now assumes charge of the entire legal work, including both the organization of the corporation and the maintenance of its legal status thereafter. In like manner, the engineer, whose report was, as I

Jan 1, 1909

By Leon Banks

THE- Missouri-Kansas Zinc Corpn., operating in the Waco district, 15 miles northwest of Joplin, Mo., owns large tailing piles made during milling operations of the years 1918-28 by the Butte-Kansas, Acme, and Barnsdall mining companies, whose holdings have been purchased and consolidated under, the ownership of the Missouri-Kansas Zinc Corpn. These tailings had been considered too low in value to be worth retreating by the ordinary methods. C. Erb Wuensch, consulting engineer of the Missouri-Kansas Zinc Corpn., noted the difference in the type of tailing from upper-level and lower-level ore. The latter contained hard lime chats. He also found that mill losses had been due to particles of blende on the corners or sides of the chats and to the existence of soft, porous, cellular, lime chats containing varying amounts of blende. He conceived the idea that a quick grind in rolls or ball mills might change the type of the material so that jigging could make a clean tailing for discard and a partly concentrated product sufficient in blende content to justify the expense of fine grinding in ball mills to free the mineral entirely. A laboratory was equipped with the necessary machines and the writers were assigned the problem of developing a method of retreating the tailings.

Jan 1, 1929

By Lawrence Addicks

Discussion of the paper of LAWRENCE ADDICKS, presented at the San Francisco meeting, September, 1915, and printed in Bulletin No. 104, August, 1915, pp. 1471 to 1484. L. D. RICKETTS, New York, N. Y.--In the Southwest we have stored up millions of tons of tailings in which the copper exists partly as sulphide and partly in an oxidized condition. Mr. Addicks' first paper suggests a, likely process for the treatment of such material. His second paper 1 deals with the recovery of copper from clear solutions of notable strength, and such solutions may come from the sulphating roast or direct from the leaching of completely oxidized copper ores of which vast deposits are known to exist. What strikes me particularly about the latter paper is the keen perception shown and the clear manner in which the writer has attacked the fundamental principles of the process. He calls your attention to the fact that ferrous sulphate is necessary in the electrolyte and is an ideal depolarizer; that sulphurous acid must be, used to reduce the ferric sulphate produced and thus prevent re-solution of copper at the cathode; that mechanical agitation in the cell, in order to bring the ferrous sulphate in contact with the anode and the copper in contact with the cathode, is essential to efficient work; that lead anodes are

Jan 12, 1915

By Henry N. McCarl, John J. Dran

The academic community and the larger and more sophisticated mining companies have largely rejected the older mineral valuation methods such as the Hoskold and Morkill concepts and replaced them with "discounted cash flow" (DCF) techniques. The relevancy and usefulness of the older methods have been questioned primarily on the basis of their underlying assumptions that mining companies do not have numerous alternative investments and must use sinking funds deposited at market or "safe" rates of return to recover the purchase price of mineral reserves. The ability to reinvest in numerous (often nonmining) alternative business ventures, the changing purchasing power of the dollar, corporate income and other taxes, depreciation and depletion allowances, and modern financial management practice all militate against the continued use of the older valuation methods, especially for the larger mining companies. Small mining companies and individuals still use these methods largely out of habit and familiarity. The Hoskold Mineral Reserve Valuation Method The Hoskold method was developed prior to the evolution of modern accounting practices and before the days of the corporate income tax. At the time of its development, annual earnings of the firm were represented by the difference between cash revenues and cash expenses and were not subject to taxation by the government. Thus, earnings at that time were equivalent to what is today known as cash flow.

Jan 7, 1974