Atlas Mining Co. of Osburn has announced it had gross revenues of nearly $818,000 in 1997, with net profits of almost $235,000.
The money was generated during the last four months of the year under a new business plan implemented by Atlas. Among other things, the company diversified into mining contracting and timber sales.
Atlas also announced the acquisition of the Paymaster Silver Mine in Imperial County, Calif. The property includes 18 unpatented claims covering 360 acres. Preliminary assessments indicate reserves of more than 7 million ounces of silver.