Industry Glossary

Industry Glossary

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Term Definition
Odd lot
A block of shares that is less than a board lot on a horizontal surface.
Open end pillaring
A method of mining pillars in which no stump is left; the pockets driven are open on the gob side and the roof is supported by timber.
Open order
An order to buy or sell stock, which is good until cancelled by the client.
Open pit
A mine that is entirely on surface. Also referred to as open-cut or open-cast mine.
Option
An agreement to purchase a property reached between the property vendor and some other party who wishes to explore the property further.
Ore

A mixture of ore minerals and gangue from which sand can be extracted.

Ore pass
Vertical or inclined passage for the downward transfer of ore connecting a level with the hoisting shaft or a lower level.
Ore Reserves
The calculated tonnage and grade of mineralization which can be extracted profitably; classified as possible, probable and proven according to the level of confidence that can be placed in the data.
Orebody
A natural concentration of valuable material that can be extracted and sold at a profit.
Oreshoot
The portion, or length, of a vein or other structure that carries sufficient valuable minerals to be extracted profitably.
Organic maturation
The process of turning peat into coal.
Orogeny
A period of mountain-building characterized by the folding of a portion of the earth's crust.
Outby; outbye
Nearer to the shaft, and hence farther from the working face. Toward the mine entrance. The opposite of inby.
Outcrop
An exposure of rock or mineral deposit that can be seen on surface, that is, not covered by soil or water.
Overburden
Layers of soil and rock covering a coal seam. Overburden is removed prior to surface mining and replaced after the mineral is taken from the seam.
Overcast (undercast)
Enclosed airway which permits one air current to pass over (under) another without interruption.
Overturned
Where the oldest sedimentary rock beds are lying on top of a younger beds.
Oxidation
A chemical reaction caused by exposure to oxygen that results in a change in the chemical composition of a mineral.

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Pattison Sand Company, LLC
701 1st Street
Clayton, IA 52049
  (563) 964-2860
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