In a message dated 3/21/2008 9:16:41 A.M. Central Daylight Time,
[log in to unmask] writes:
In the late 1920s and early 1930s there was a Salt Lake City company started
by S. Frank Hunt called Rio Tinto Copper Company (RTCC). RTCC was a penny
stock float, that initially, unsuccessfully tried to raise money to explore
for copper beneath a rather barren gossan near Mountain City, Nevada.
Finally, Ogden Chase, a stock broker/promoter hit upon the idea of giving
away shares of RTCC stock, then assessing stock holders a few cents a share
and using that money to drive an exploratory decline beneath the gossan
outcrop. In 1932, RTMC's decline hit a significant copper ore body that
became the basis for the highly profitable the Mountain City Copper mine,
which soon became controlled by Anaconda. Afterward Ogden Chase became
president of several new mining companies including one that leached copper
at Chloride, Arizona. I don't know the name of the Chase company that
operated at Chloride. Larry James recently wrote an excellent paper,
"Exploration of the Rio Tinto Gosan, North-Eastern Nevada: How Prospector S.
Frank Hunt Discovered the Mountain City Copper Mine" from which the above
comments were derived. I'll look for the name of the publication in which
Larry James's article appeared and put you in touch with Larry. I'd bet your
Rio Tinto in Arizona ends up connected with Ogden Chase not London.
Peter
Peter,
Great bit of news. To all of the folks who suggested contacts with RTZ, I
want to thank you all. What a goose chase.
Jim
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