MATAKI.

Evening Post, Volume CXX, Issue 1, 1 July 1935, Page 12

MATAKI.

Mataki, Murchison, reported on Saiurday.—Last week the dredge pulloa ahead 31ft in ground of an average depth of 18ft. The dredge had a good run for the week, the ground showing a-steady improvement, particularly w the bank at the junction of the two cuts. There is some very nice was.i coming in here and I expect a steady improvement in returns. We are still 34 chains from Ragg's Road, with the rfver portion still being worked ground. CENTRAL SHOTOVER. The Central Shotover Gold Mining Company, Ltd., in its report for the year ended March 31, shows a loss of £1024. A start was made on the sixth paddock, but on March 26 a flood washed away the protection wall and buried a substantial portion ot die plant, with the result that suicmg operations had to be stopped. A substantial part of the plant had been recovered, but «lie elevator is still buried The profit and loss account shows that the loss in running the claim amounted to £1224, from which is to be deducted the profit of £200 made by the disposal of the pipe line, leaving a net loss of £1024: This has absorbed practically all the company's working capital, and, with the loss of the claim. plant, has rendered it impossible for the claim to be reopened. The directors have completed negotiations with Mr. J. Stephens, who has taken the claim on a 30 per cent, tribute basis, and he has already made a start .with the necessary work , preliminary to salvaging the plant.