A CEO You Can Dig
July 08 2004 - 9:30AM
PR Newswire (US)
A CEO You Can Dig SCOTTSDALE, Ar., July 8, /Xinhua-PRNewswire/ --
Imagine the Chief Executive Officer of a successful mining company
getting into his pickup truck, literally tossing a shovel into the
back of it, driving south some eight hundred miles into the middle
of the high desert of Juab County, Utah, and shoveling more than a
ton of dirt into the bed of his truck. Sound implausible? Further
imagine that same executive then continuing his southbound trek,
driving another nine hundred miles at speeds slower than the
checkout lines at your local warehouse membership store, for the
sole purpose of having that ton of soil processed in such a manner
that it is now usable, for testing purposes only, to a company that
might buy more if the sample tests meet their needs. Sound like a
typical week for any Chief Executives you know? Meet William T.
Jacobson, President and Chief Executive Officer of Atlas Mining
Company (OTC:ALMI) (BULLETIN BOARD: ALMI) . Bill recently made just
that trek. Starting at the company headquarters in Osburn, Idaho
and ending up in Yuma, Arizona to have his ton of halloysite clay
processed, Jacobson spent almost a week on the road, nearly two
thousand miles from home, so he could deliver a very special
payload to microtube experts introduced to him by contacts at
Montana State University. 'Sometimes there's just no other way to
get a job like this done,' said Jacobson. A hands-on executive,
Jacobson has been President and CEO of Atlas Mining Company since
August of 1997. Prior to that he held the position of
Secretary/Treasurer. Bill has worked directly in the mining
industry for the past 14 years. He has also spent 15 years in the
banking industry, serving the mining industry. 'I put myself
through school like many students do in this part of Idaho. I
worked as a miner,' Jacobson said matter-of-factly. It's no wonder
he'd grab a shovel and just start digging. Bill graduated with a
B.S. in Business Administration from the University of Idaho in
1971, and is a member of the Northwest Mining Association. What's
so special about a truckload of soil from the middle of the Utah
desert? 'If it was just dirt,' explained Jacobson, 'then nothing.
However, this soil was extracted from our Dragon Mine in Utah, and
it is loaded with a unique mineral known as halloysite.' Halloysite
is a mineral made up primarily of Aluminum, Silicon, and Oxygen. In
fact, the Dragon Mine is only the second known deposit of such
commercially viable clay. The only other location is in New
Zealand. By comparison, the purity and quality of the Dragon Mine
halloysite is unmatched anywhere in the world, which has spawned
interest in this particular mineral deposit into areas of cutting
edge research and development. The company had originally sought
the rights to mine the halloysite because of the opportunities in
the existing halloysite markets. To this point the primary
commercial use for halloysite has been in the manufacture of fine
china, bone china, and other porcelain and ceramic products.
'However, scientists quickly discovered there were several new uses
for the processed mineral. It's these new potential uses, which
will dominate sales,' Jacobson was quick to point out. So, why is
there so much excitement about this particular cache of halloysite
coursing through the industrial minerals community? 'Halloysite is
a dense mineral, very rich in microtubes. Picture a grain of rice,
only considerably smaller and hollow,' Jacobson continued to
explain. 'The halloysite microtubes act as time-release capsules,
which dissolve over time. These tubes, which measure between 0.7
and 40 microns in diameter, can be filled with such agents as
antifouling or anti-barnacle compounds in paint, antiscalants,
herbicides, pest repellents, and other agents, all of which benefit
from a controlled release.' Halloysite, generally white in
appearance, can sometimes appear yellowish white, reddish white,
brownish white, or greenish white. During the past several months,
the company has sent samples of its products to two different
ceramics users, two paint manufacturers and two international
distributors. 'Through our contacts with the Montana State
University TechLink Center, we have learned that our clay may soon
have a greater number of uses and potential markets than was
originally expected,' said Jacobson. Montana State University's
TechLink Center, has been hired by the US Government to find
industrial and commercial uses for government patents. One such
patent, invented by Atlas Mining Advisory Board member Dr. Ron
Price, is the use of microtubules in a variety of applications from
vitamins to paints. The technology has been advanced to the stage
that researchers have found the Dragon Mine halloysite, known as
Phlosite HP, is the best source of natural microtubes available.
Although these microtubes can be produced synthetically,
researchers have determined that due to its unique microstructure,
halloysite clay from the Dragon Mine in Utah may be the preferred
source because it is naturally derived, and is non-toxic. Jacobson
continued, 'Scientists have created a completely new method of
controlled release using microtubules made from halloysite clay. In
one case, US Navy researchers have utilized microtubes to add
anti-barnacle agents to the paint it uses on the hulls of its
ships. The microtubules are filled with an anti-barnacle agent,
which is slowly released over time." Several U.S. companies are
currently looking at microtubes for applications ranging from
agricultural chemicals to paints to household products. In addition
to the agricultural and textile interests, biotech and nano- tech
companies have shown a keen interest in the Dragon Mine halloysite.
The time-release attributes are of a very high interest to
companies currently researching the deployment of nano technology.
'One example of nano-technology," explained Jacobson, "is something
known as nano-structured surface coating. Nano-technologists
believe they can create a surface coating that can do things never
before possible. For instance, one coating currently being
researched and developed is known as super-hydrophobic, which means
this particular surface coating can make an item so water resistant
that water will literally bounce off it. This might someday make
windshields that never need windshield wipers, or clothes that
could be worn underwater and remain dry. Time-release is a critical
attribute when considering a surface coating of this nature.' That
may sound like fantastic or outrageous technology, but it's being
taken very seriously as research and development efforts of
nano-technology are beginning to explode, worldwide. For
nano-technologists interested in being able to control the
time-release agents of their technology, the microtubes found in
the Dragon Mine halloysite may provide the perfect solution.
'Scientists can control the time-release attributes of the
microtubes by simply manipulating the length of the tubes,' said
Jacobson. 'The longer the duration sought, the longer they make the
tubes.' So, exactly how much is the clay at the Dragon Mine worth?
How about as much as $300,000,000 in revenue over the life of the
mine? 'We have between 300,000 and 525,000 tons of usable clay,'
said Jacobson. 'We expect to get between $450 and $1,000 per ton,
and have enough clay to sustain mining operations for the next
seven to twenty years, depending on demand.' The next time you see
an old pickup truck chugging along at Sunday afternoon speeds,
weighted down with a bed full of soil, consider the fact that it
just might be the Chief Executive of a successful mining company
out taking care of a very important sales call. If the driver has a
smile on his face, it could be Bill Jacobson -- or possibly one of
his shareholders. NOTES TO EDITORS The above was written by John
Roskelley, who is a professional writer. Mr. Roskelley is the
President of First Global Media, an Investor Relations/Public
Relations firm in Scottsdale, Arizona, and has been retained by
Atlas Mining to provide IR services. He was not paid by any party
to write this story. Mr. Roskelley can be reached at
+1-480-902-3110. DATASOURCE: First Global Media CONTACT: John
Roskelley of First Global Media, +1-480-902-3110
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