M. H. Kerr, Salt Lake City, Utah, Uranium History Series

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M. H. KERR #1 Utah tax unpatented metalliferous mining claims under existing law? And the conclusion was yes. And, of course, if you'd like a copy of this, you can have it. Now that was the first thing. We've never been in the habit--or rather been in the practice to tax unpatented mining claims. The taxation in Utah, when I refer to it, the basic taxation is every mine, and mining claims should be assessed at five dollars an acre, and in addition thereto, they shall be assessed under the net proceeds formula, that is, if there's production. So the large amount of evaluation on any of our mining property comes from the net proceeds, not the five dollars an acre. So we're very interested that we can assess unpatented mining claims, and we didn't even put five dollars an acre assessment on them, but rather if they were in production then we invoked the net proceeds and therefore we got our value. MH: Uh huh. Now this is commonly referred to as the hundred-dollars-a-year assessment work. Now is that according to that arithmetical formula that you' re saying? MK: No, no. No, in order to hold an unpatented mining claim--and here, I'm not an authority on staking out and ---?--- All of this is handled either through 4