THE WAIHI MINE.

Auckland Star, Volume LIII, Issue 137, 12 June 1922, Page 6

THE WAIHI MINE.

A BRIGHTER OUTLOOK. DISTINCTLY ENCOURAGING ASSAYS. During the past fortnight shares in the Waihi G.M. Co. have advanced about 6/, which is a big rise seeing that the paid-up value is now 10/ per share, as a similar amount was some months ago returned of the capital originally paid up. This sharp advance in the market price of scrip is understood to be due to developments ill the mine. Distinctly encouraging assays have been obtained at one portion of the Edward lode in No. 12 level. al*° from n dropper olf the Empire lode at the same level. It must, however, be remembered that with reefs like those in the Waihi mine, totalling thousands of feet in length, a great deal of work is necessary before the management can be certain that there is a real change in the condition of the lodes.

In respect to the output from the mine, every effort is being made to increase the tonnage of ore produced. The position is that the fall in the market price of gold ami silver from the high figures ruling during the war, coming on top of the heavy working costs, both of wages and mntcr'alf. during the past few years, had the effect of nurrowing down the margin of profit per ton to a minimum. It is in order to meet this difficulty that every effort is being made by the management to reduce the standing charges per ton by maintaining the tonnage produced as high as Tlie fnct thnt a start linn been made to work the full 24 hours with three shifts will naturally result in a corresponding increase in the outmit of ore. Another Wtor that may have tended to make Waihi shares popular on 'OhanffC was the interim renort from the Government ceologicnl survey pointing to the pnss'hilitv of secondnrv enr'ehment of ore bodies in that district when depth is attained.