that we had a mine, and in March we exercised our option and started negotiations with the Atomic Energy Commission. Financing a new mine is never an easy business, but securing the $10 million needed to construct the Lucky Mc mill will always stand out in my mind as one of the more difficult tasks which I have undertaken. Remember at that time Utah was relatively new to the mining business, our earnings in 1955 were less than $2 million, and our net worth just over $20 million; and Lucky Mc Uranium Corporation was just one of that group of 130 special situations which I mentioned earlier. The bankers were skeptical, to say the least, and it was not until Lucky Mc had concluded a contract with the A. E. C. in November of 1956, and Utah had guaranteed that the mill would be constructed within the target estimate and that yellow cake would be produced and sold within the estimated costs', that the loan was forthcoming. Stripping and mill construction began in the spring of 1957, and in March, 1958 the first yellow cake was shipped. The property very rapidly justified our faith in it, and has contributed significantly to Utah's earnings during the past decade. Our other uranium property in Wyoming is at Shirley Basin, and was discovered in the fall of 1957. Drilling of the property soon proved up the existence of a high grade ore body of depth, and sufficient reserves were proved to enable us to procure an A. E. C. allocation in the last round of the purchase program in the fall of 1958. Shaft sinking began the following spring and in April 1960, the first ore from Shirley Basin was processed through the Lucky Mc mill.