The parent company operations consist of four mines operating in the United States. The oldest and now least important of these is the company's original entry into the mining field, an iron ore mine near Cedar City, Utah producing approximately 600, 000 tons of iron ore yearly, virtually all of which is sold under long term contract to the United States Steel Corporation. Reserves are limited and perhaps will permit the company to operate for another 10 years or so. In Wyoming the company has two uranium operations, the Lucky Mc Mine and mill in the Gas Hills area and the new Shirley Basin mine and mill which should begin operating this month. Lucky Mc produces approximately 2 million pounds of U3O8 in concentrate yearly and is one of lowest cost uranium operations in the country. Shirley Basin over the past decade has produced modest amounts of uranium, first from underground mining and later from a solution mining process. However, with the emergence of a strong and growing market for uranium for peacetime uses Shirley Basin has been converted to an open pit mine with its own mill and is expected to produce approximately 2. 3 million pounds of uranium in concentrates once it achieves designed capacity. In December 1970 the company made the last of its deliveries contracted to the Atomic Energy Commission and henceforth will be serving only private customers. Although our uranium production capacity has been more than doubled, the output is committed for sale through 197 5 and a few sales have been made for delivery after 197 5. The weighted average price for all sales made is $7. 15 with some of the contracts having escalation clauses. We are not eagerly seeking delivery commitments in the last half of the 70's, for we believe that we will be able to place this production 5.