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not completely satisfied with the leaching process and changed
methods to employ the gravity separation method. In order to
employ this new method, petitioner acquired a jaw crusher, a cone
crusher, a ball mill circuit, a screw classifier, and a wier jig
and table to concentrate material. Petitioner also switched from
using cyanide as a lixiviant in the concentration process to
using bromine, after attending a Landall Mining Symposium in
Reno, Nevada. In early 1993, petitioner purchased a $50,000
induction furnace to improve recoveries through induction
smelting. Petitioner originally had a propane furnace, which was
not powerful enough to melt platinum. Lastly, L.R. Tinnell
developed a proprietary fire assaying method for assaying
refractory ores to augment the standard fire assaying method used
in the industry.
Petitioner pursued several mining prospects but quickly
abandoned those that he concluded had no potential to be
profitable. For example, in Mr. Cruson’s January 15, 1993,
geological report on the Tinnell Prospect, Mr. Cruson recommended
that “No further work is justified on the claims covered by the
Tinnell Prospect.” Pursuant to Mr. Cruson’s recommendation,
petitioner decided to cease work on the Tinnell Prospect. In
1983 and 1984, petitioner pursued a gold mining venture in
Lochiel, Arizona, but quickly abandoned that effort after
realizing the operation would not be profitable. Petitioner then
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