U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-QSB
(Mark One)
x Quarterly report under SEction 13 or 15(d)of the SEcurities Act
of 1934 for the quarterly period ended June 30, 2000.
Transition report under Section 13 or 15(d) of the Exchange Act
For the transition period from______________ to _______________
Commission File Number 1-1761
CHIEF CONSOLIDATED MINING COMPANY
(Exact name of Small Business Issuer as Specified in Its Charter)
Arizona 87-0122295
(State or other jurisdiction of incorporation or organization)
(IRS Employer ID No.)
500 5th Avenue, Suite 1021, New York, NY 10110-1099
(Address of Principal Executive Offices)
212-354-4044
(Issuer's Telephone Number, Including Area Code)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15 (d) of the SEcurities and Exchange Act during the past 12 months
(or for such shorter period that the Registrant was required to file such
reports), and (2) has been subject to such filing requirements for the past
90 days.
YES __X__ NO_____
Class Outstanding at August 1, 2000
Common Stock $0.50 par value 8,024,601
Redeemable Convertible Common Stock $0.50 par value 3,500,000
CHIEF CONSOLIDATED MINING COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
For the 3 Months Ended For the 6 Months Ended
6\30\00 6\30\99 6\30\00 6\30\99
REVENUE:
Interest $ 61,096 $ 6,497 $ 127,759 $ 12,555
Land Sales & Other 16,146 10,800 22,663 12,356
Total Revenues 77,242 17,297 150,422 24,911
EXPENSES:
General & Admin. 218,806 272,973 618,743 492,143
Mining properties
operating &
exploration costs 495,663 71,603 755,186 291,060
Taxes other than
income taxes 16,996 17,819 78,626 40,015
Total Expenses 731,465 362,395 1,452,555 823,218
NET LOSS (654,223) (345,098) (1,302,133)(798,307)
REDEEMABLE CONVERTIBLE
COMMON STOCK DIVIDENDS:
Eight percent
stock dividend (183,750) - (367,500) -
Accretion to redemption
value (324,662) - (649,324) -
NET LOSS APPLICABLE
TO COMMON SHAREHOLDERS(1,162,635) (345,098) (2,318,957) (798,307)
NET LOSS PER
COMMON SHARE $(0.14) $(0.05) $(0.29) $(0.11)
WEIGHTED AVERAGE
NUMBER OF COMMON SHARES
OUTSTANDING
(Basic & Diluted) 8,024,601 7,529,854 8,024,601 7,420,547
The accompanying notes to condensed consolidated financial statements are an
integral part of this condensed consolidated balance sheet.
