General Mines Corporation, Odd share certificate, Capital stock, $ 0,05 

• General Mines Corporation 
• Aandeel 
• Delfstoffenwinning 

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  Metaal
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General Mines Corporation, Odd share certificate, Capital stock, $ 0,05

0,05 US Dollar per aandeel

Delfstoffenwinning, Metaal

21,5 x 35 cm (incl. aanhangsel)

Handtekeningen origineel. Stuk op naam. Ontwaarding door stempeling. Mogelijk met aanhangsel met belastingzegels. In November of 1925, General Mines Corporation was formed as an Idaho corporation with authorization capitalization of 2,000,000 shares of common stock. The Company was formed for the purpose of engaging in the business of acquiring, exploring and developing mineral properties, primarily those containing precious and associated base metals. In 1928 the Company acquired 106 acres of patented claims in the Pine Creek area of the Coeur d’Alene Mining District of North Idaho and acquired the water rights the following year. Pine Creek is located in the Silver Valley Mining District East of Coeur d’Alene, Idaho. During the early 1930s, General Mines Corporation purchased and staked 21 additional mining claims surrounding the 106 acres of patented land. From 1930-1950 the corporation explored the Pine Creek properties with over 200 feet of shaft and over 4,800 feet of tunnels, crosscuts, and drifts. Drifting for 1,200 feet along the main structure revealed significant gold mineralization along its entire length. In 1967 the underground mine workings were re-examined confirming significant mineralization. The report concluded that a large tonnage potential existed but that gold prices considerably above the present level of $350 per ounce would be required. Further exploration was not warranted unless the higher prices were in evidence. Accordingly no further exploration has occurred and the property has been placed on a standby basis. The property contains no proven or probable reserves. In 1952 the Company conducted an offering of its common stock pursuant to a Regulation A exemption from registration under the Securities Act of 1933. There was very little activity of General Mines Corporation from 1952 until 1966 when the business focus of the Company was broadened to include petroleum and in 1966 the name of the corporation was changed to Idaho General Petroleum and Mines Corporation. In 1966, the corporation purchased a second mineral property of 6 silver-lead patented claims, collectively called the Chicago-London group. This property is located 6 miles East of Murray, Idaho. The assets consisted of a previous small producer of lead and zinc. The mine consisted of approximately 2,500 feet of development. There was no subsequent development of the property. In 1967 the name of the corporation was changed to Idaho General Mines, Inc. and the capitalization was increased to 3,000,000 shares of common stock. During the latter 1960s and early 1970s some limited exploration work was done on the Chicago-London group, but no proven or probable reserves were discovered. During the 1970s Idaho General Mines, Inc. purchased various placer and lode claims in the Yukon, but decided not to pursue them and the properties were subsequently sold. In the late 1970s Cominco did chemical testing in the West Silver Valley zinc district and in 1980, Cominco leased the Pine Creek properties from the Company. Six unpatented claims acquired, increasing the Company’s property position to a total of 27 unpatented claims in the Pine Creek area. In 1982 Cominco relinquished the leases to the Pine Creek properties. Shortly after, approximately 2 acres of patented land was sold, leaving 103.87 acres in the Pine Creek area. In 1985 the Articles of Incorporation were amended to increase the capital stock of the corporation from 3,000,000 to 25,000,000 shares of common stock. The Company remained relatively inactive for the remainder of the 1980s and 1990s. During the 1990s, all 27 of the unpatented claims in the Pine Creek area were abandoned to avoid the cost of assessment work. In the latter 1990s, the corporation improved its liquidity by harvesting timber on its Pine Creek patented claims