MINING.

Auckland Star, Volume LXIII, Issue 56, 7 March 1932, Page 2

MINING.

GOLDEN DAWN GOLD MINES. CRUSHING RETURNS. Three hundred and eighty tons of ore of a value from assay tests of £1244, were crushed at the Golden Dawn Gold Minn for the 13 working days ending February 29. Tailings show loss of under 8 per cent. Actual bullion recovered during the period was £1231. Figures are based on gold value of £-4 per ounce. The first bar of bullion realised £6 4/9 per ounce. GOLD IN THE TRANSVAAL. • • ALL RECORDS ECLIPSED. (From Our Own Correspondent.) CAPETOWN, January 10. Expectations that 1931 would be a record year for the output of gold in the Transvaal are confirmed by the December return. Last month's production of 923,353 fine ounces was exceptionally large for Decem-: ber, and it was exceeded last year only.py' the record figure of 945,1130z for October.'' The total output of the Transvaal, jn ;J 1931 was 10,524.1450z. This is 10i,3550z more than In 19HO, and constitutes a record" in the history of the gold mining industry." During the present century the gold oink put of the Transvaal has increased from less than 4,000,0000z to nearly 11,000,000'" oz. The expansion in recent years—con-! trary to the predictions of some economist*, who foretold a declining Rand output—is due to the appreciation of gold in terms of commodities and also to the more adequate supplies of native labour. So long as the agricultural industries of South Africa remain depressed, native labour supplies should continue to be ample. NEW GUINEA GOLDFIELDS. OPTIMISTIC DIRECTORS. At the adjourned annual meeting of the New Guinea Goldh'elds, Ltd., in Sydney the other day, the general manager (Mr. G. A. Harrison) said that he saw no reason why the company should not be paying small dividends next year. Prospects were good. ■ The chairman said that the directors would be disappointed if operations at the ridges failed to yield a profit of £100,000 a yett. The chairman of the technical committee had expressed the view that the alluvial ground should yield £70,000 net revenue in the next twelve months. KING SOLOMON DEEP LEAD. , (By Telegraph.—Press Association.) INVERCARGILL, Friday. ' ; The manager reports that the wash-up for the King Solomon Deep Lead (Gore) last week was lloz lodwt. A correspondent writes as follows:— "In a report culled from a Southern . paper and published in your columns on the position of the above company, a very obvious mistake occurs. The company's expenditure on a capital of £13,000 was, according to the statements issued, from registration to December 31, 1930, £2613 12/10; December 31 to August 31, 1831, £4446 4/2; August 31 to December 31, 1931, £9380 G/4; or a total of £16,440 Zβ, out of a total expenditure as stated of £13,903 19/2. "According to the ligures supplied, I make the expenditure from August SI to December 31, 1931, £4934 2/2— beiug A difference in our favour of £4446 4/2 '<. instead of an apparent loss there was at December 31, 1931, a net balance in our favour of £10SS 3/11, since which 3230z 16dwt have been won. This gold has fcceuwon during development work in preparation for work on a much larger scale, as foretold by the chairman o£ ilirfctors." ALEXANDER MINES. The Alexander Mines Co. report that the clean-up for February was as follows: 4.14 tons of ore were crushed for 28oM IDUwt of melted gold; by cyanide, 2S>> . tons of sand were treated for ODoz 17dwt of bullion. Estimated value of return. £1401. exclusive of premium on the salo of gold and on exchange.