MINING.

Auckland Star, Volume LXXI, Issue 220, 16 September 1940, Page 4

MINING.

e . GILLESPIE'S BEACH PROFIT. Ie d The Gillespie's Beach Gold Dredging Company : s report that for the year ended June 30 the dredge treated 712,071 cubic, yards, yieldins 15230z of •e gold, which realised £ 14,795, after paying realioa1, tton expenses £198. The amount deducted from , the market price of gold under the gold tax • regulations totalled £1883, equivalent to £1 4/8 an n ounce of gold won. The net profit for the financial year amounted to £3596. One dividend of Id a share, equal to 8 1-3 per cent, has been paid. U Values throughout the year have been consistently e poor, but with a tendency to improve as the dredge . works southwards. During the year one bore was ° sunk to twice the depth the dredge Is capable '. of dredging to without locating payable values ,£ below present limits. Three others were sunk in - previously dredged ground, locating values e left undredged which may prove profitable at a r later date In conjunction with adjoining virgin y ground. Another three were sunk on the seaward side of the present cut, and were of a low grade. f_ YIELDS OF COMPANIES. a Mossy Creek (West Coast).—B6oz from 13,977 I- yards in 133 hours. e White's Electric (West Coast).—s6oz from 9500 f yards in 120 hours. 1 New River (West Coast).—2ooz from 8500 yards in 89 hours. I. ' ' e NEW ZEALAND GOLD SHARES IN LONDON. " (Rec. 1.30 p.m.) LONDON. Sept. 14. New Zealand gold shares are quoted:—Clutha, buyers 7d, sellers 9d: Molyneux. buyers Id. sellers 3d.