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Show 172 The Rifle mine by 1932 had produced in round numbers 9,000,000 pounds of V2O5 In the form of concentrates. The V2O5 in the concentrates had a normal value ranging from $1,10 to $1.80 per pound. The cost of mining vanadium ore at Rifle has been given by Burwell as $1.96 per ton,14 Based on the average recovery In the mill of 27 pounds of v2^5 Per t o n o f o r e the mining cost Is $0,073 per pound. Data on cost of milling in 1931, published by Argall15, show a mill cost of $0.12 per pound, making a total mine and mill cost of $0,193 per pound of V2O5 in the concentrate. As the sale price is $1.10 to $1,80 per pound, the profit ranges from about $0.90 to $1.60 per pound. Thus, in round numbers the Rifle mine from 1925 through 1932 yielded a mining and milling profit of between $8,100,000.00 to $14,400,000.00. Indirect charges, which could not be verified, must be deducted from the figures given above, but all available evidence indicates that the net profit could not have been less than $9,000,000.00. This indicated minimum net profit of $9,000,000.00 may be used in the determination of the value of the subject 14Burwell, Blair, Mining methods and costs at the vanadium mine of the U. S. Vanadium Corporation, Rifle, Colorado: U. S/ Bur. Mines Inf. Circ. 6662, P. 9, 1932 •*-5Argall, G. 0., Jr., The occurrence and production of vanadium: Colorado School of Mines Quart., Vol. 38, no. 4, p. 37, 1943 |
