THE GOLDFIELDS.

Auckland Star, Volume XXXVIII, Issue 268, 9 November 1907, Page 5

THE GOLDFIELDS.

SHAREMARKET.

The Exchange closed down last evening until next Tuesday jnorning. At the late call sales were made of Tonson Garlick shares at 19/3, and New Zealand Paper Mills, at 23/9. Iα mining shares Waiotahis showed a slight improvement, being sold at 3/7 and 3/8, and Crowns again changed hands at 8/3. Victoria shares were once more sold at 1/10, with buyers left at a penny under that figure. Golden Belt changed hands at 2/7, and Karangahakes were sold, and still wanted at 7Jd. New WaiteKauri shares again sold at 10d, and New Saxora at 9*d. Waihi shares were transferred at £8 7/6, and Extendeds at 5/3.

TALISMAN CONSOLIDATED.

BEST RETURN FOR THE YEAR. £18,655 FROM 4305 TONS. The recent advance in the price of shares in the Talisman Consolidated Gold Mining Company, was . apparently fully , warranted by the excellent return which I was announced shortly before 5 o'clock yesterday afternoon. During the month of October the quantity of ore treated was 4305 tons- which • yielded bullion | valued at £18,655 12/2, and thus brings the total output to date to £748,526 7-/10, of which £ 150,000 has been paid in divi- \ dends. The return for October is the largest from the Talisman mine for the: present year, the next best being in July, I when the amount was £18,500, but on that occasion a larger quantity of ore was treated than was the case for the i October return. The,, increase on the present occasion is mainly, derived from No. 12 level south face, and No. 12 rise. I The cost per ton for October was £1 13/, made up as follows:—Mine development, 5/6; mining, 11/7; milling, 14/2; '. general expenses, 1/9. The September '■ cost was £1 13/1 per ton. The previous returns are:—

WAIHI GRAND JUNCTION.

(By Telegraph.—Own Correspondent.} WAIHI, Friday, kilning operations In the Grand Junction mine is being attended with a good deal of success, and the new lode recently met with in the south-eastern crosscut at No. 4 level has been proved to be from eight to ten feet in width- From what can be seen this ore body has been met with at a level where its outcrop is close at hand, conse- ! quently Its regular denned character Is not !in evidence. The ore Is low grade material, with streaks of fairly good ore. Meeting with this lode at this point (20 feet from the shaft) comes as a surprise to one and all. The object of putting out this crosscut was for the purpose of Intercepting tie famous Empire lode, which should be found I a considerable distance sonth-eaßt of the I present point of operations. It Is understood that the main shaft will pass through this new lode, 50 feet below No. 4 station. This Is due to the westerly dip of the ore body. The development of No. 2 lode continues 'to give satisfactory results. It has now been opened up for a total length of 600 l feet eastward of the point of "splice" with I the main lode. Some very rich chutes of payable ore have been exposed in this section, and the lode trending east Is'still ai strong vein, with good ore showing. There' Is still about 230 ft to drift to reach the west boundary of the Waihi Extended Com-i pany's property, and no doubt as the as the work advances further stretches of ' pay rock will be exposed. The No. 1 lode has been opened up for a total length of 430 ft east of the main crosscut, and it is fuhy developed west of the crosscut home to the Waihi G.M. Co.'s boundary, carrying payable material right up to the entire length reached west. Eastward the lode has not been quite so consistent In its values, bnt there are nevertheless some fine sections of pay ore to operate upon. At present in the furthermost eastern face, the ore body showe a shrinkage with low grade value, but a change may set in here at any foot advanced, for the country is of a firm mild character. It Is the Intention to crosscut to prove the country in the north and south walls. A new system of raining in this part has been Introduced by the management in the form of single-hand-ed drilling, at contract price of so much per foot. The borers merely pat in the holes planned by the shift bosses, and commence drilling for all they are worth. For every inch bored in. so much Is earned. These holes arc charged by wages men, and fired out by them. The pay ore Is then I sorted over, and the valueless waste is left in the stopes as filling. It is understood that when the contractors are breaking ore on the tonnage system they cannot afford time to select the good ore from the mullock and low grade, consequenly the whole of It is dumped into the passes, with the result that it reaches the mill in large quantities, with a low return per ton in value. The elnblc-handcd drilling system is not practicable in all mines: for instance, Waihi G.M. Co. lodes .are identical with those In the Junction, but their values are more evenly distributed, whereas the Junction section of the vein has its values on one wall or the other, and can be readily selected. I understand'that a great many miners are very adverse to the new system, but there *s one thing about a singlehanded borer, namely, that he knows the exact amount of his earnings at the close of his shift. .

From Dec, 1898, to 1906.. £598,886 9 9 Period ending— January 31, 11)07, 2S55 tons 12,500 0 0 February 2S, 1907, 3774 tons 12,314 19 1 March 31, 1907, 3810 tons 11,559 12 4 April 30, 1907, 4136 tons.. 11,345 0 0 May 31, 1007, 4410 tons 16,970 13 2 June, 3470 tone 17,517 18 7 July, 4415 tons 18,500 0 0 August, 3772 tons 15,335 7 0 September. 3S75 totw-,-„... 14,930 10 11 October, 4305 tons .... 18,655 12 2 Total output to date £74S,526 7 10 Total dividends £150,000 0 0