WAIHI G.M. CO.

Auckland Star, Volume LVII, Issue 135, 9 June 1926, Page 4

WAIHI G.M. CO.

THE TWO SHILLING DIVIDEND. MANAGER'S WARNING. (From Our Own Correspondent.) LONrDOST, May 3. The report of the Waihi Gold Mining Company for 1925 shows that 215,418 tone (of 20001b dry weight) were treated. Gold and silver sold realised £368,717. Sundry receipts, including interest, amounted to £19,351. Value ol power supplied by the Government of New Zealand was £10,625. These three items amounted to £398,694, and compare with £419.252 for 1924. Expenditure including development work, amounted to £300,299, leaving a grose profit of £98,394, less £18,991 for taxation. The cum of £9905 has been written off for depreciation of plant and machinery, and £15,000 has been transferred to mine development account, leaving £54,498, plus £17,816 brought in. The directors recommend final dividend (No. 121) of 1/ per share, free of tax, making 2/ per share, leaving to be carried forward £22,723. During the year 204,965 tons of ore were developed. Reserves at December 31,1925, were 416,771 tons (wet weight) in general account of an average assay value of 34.79/, and 194,209 tons in suspense account, of an average assay value of 35.06/. Attention is called to the manager's remarks that Rny important reduction in the yearly tonnage treated would almost certainly result in an increase in the working cost per ton. (The dividend for 1924 was 2/ per share.)