MINING.

Auckland Star, Volume LXIII, Issue 138, 13 June 1932, Page 4

MINING.

OKARITO. SIX MONTHS' OPERATIONS. \ report of tho directors of the Okarito Five-Mile Beach Gold Mining Company for the six months ended April 2 states, inter "The returns obtained during the halfToar have been consistently good, and the directors have bemi able to fulfil thnir promise of an early dividend by the payment on February 27 of a 10 per cent dividend (6d per share). During the halfyear some exceptionally pood returns were obtained, the highest weekly wash-up being ISSJoz for the week ended December 10, and" the lowest 44Joz for the lirst week in the period. Tho following statistics are given for the half-vear • —Total gold won during the halrvear ended April 2, 19:i2, 1033§0z; total iiet value of 1033J0Z, £11,345; average value realised per oz. £5 17/1 : average aotual value of ground per cubic yard, 15.7 d; average value of ground based on gold worth £4 per oz. IO.Gd ; total expenses for the half-year, £oO!)9. "A profit of £5202 is shown for the halfyear, but it must bo rcmemhored that this profit is partly due to the high prices obtained for gold. The highest price obtained by the company (luring the half-year was £0 5/7 per oz, and the premium on gold accounts for £3000 of tho profit. A balance of £002 0/5 was brought forward under profit and loss appropriation account, after writing off the various amounts decided on :it the annual mooting. It will bo soon from (his account that, evon after providing a substantial reserve for depreciation and iiftor writing off certain improvements of a capital nature effected during the halfyear, sufficient remains to cover a second interim dividend of 10 per cent (0d per share), and this was declared payable on June 7. After payment of this dividend a balance of £444 11/3 remains to the credit of the profit and loss appropriation account."

FOUR WEEKS' RHPORT. The four-weekly report of Okarito FiveMile Beach Dredging Company, Limited (South Westland), for the period April 24 to May 21 Is as follows: —Total gold Avon, 188oz Odwt: total time worked, 400 nours; total non-working time, 77 hours; total yardage treated, ,32,100, an averago of 04 cubic yards an hour; average value of ground (on basis of gold worth £4 an ounce), Old a cubic yard. NEW FLOTATION. THAMES UNA OCCIDENTAL. Particulars of the flotation of the Thames Una Occidental Gold Mining Company, Ltd., aro announced. The capital of the company is £25.1100 divido.l into 100,000 shares of 5/ each, of wlileh ."0,000 nre now being offered for subscription to the public. Tho objects of the company are the development nt depth of the area on the western slope of the Una Hill. Thames. It is intended to refurnish and equip the existing main shaft and to continue sinking it a further 70ft and opnn out and drive at what would then be the 200 ft level. GOLDEN DAWN. The following is the mine report for two weeks ending June 4, 1032 :—No. 3 level : Crosscut east off No. 3 reef has been extended 51ft, total 21Gft. The country rock hero is still of a splendid class for carrying reefs, being interlaced with quartz stringers and mineral veins. No. 8 level : Stoning is being carried on in four blocks on No. 1 reef, with machines working throe shifts. The reef here averages 2ft Bin wide, and the ore broken is of good value. No. o level: Stoping is also being carried on in the stopos on No. 3 roof, with "lachines working , three shifts. The ree' here averages 2ft Oin wide, and the ore broken is of very fair value.

WAIHI CRUSHING RETURN. The following information has been cabled to the London office of the Waihi Goldmining Company:— For the period ended May 28, comprising 22£ crushing days, 18,043 tons of ore were crushed for a result of 0251 fine ounces of gold and 53,G(>4 fine ounces of silver. This includes 1500 tons Trom the Grand Junction area which yielded t>ol line ounces of gold and 3342 fine ounces or silver. No. 4 Level.—Surprise lode : Driving hns been commenced west from No. 2 shaft Crosscut. The first 128 ft is low grade, and tho next 30ft assays 30/0 a ton. The lode is about 4ft wide. No. 9 Level.—A crosscut north-west was commenced from the north section of the Empire lode, and at 54ft intersected a reef 7ft wide. Tho first 2ft assays 30/3 a. ton, and tho last sft 5/3 a ton. The course is GBdeg., and the dip one in four north. No. 10 Level.—West section of tho Edward lode: We are sinking a winze at 54Sft south of No 2 shaft, and the first 70ft assays 72/9 a ton. The lode Is about 3ft wide. No. 11 Level. —Empire lode, north section : In the crosscut at 50ft east the next 10ft assays 10/0 a ton. BLACKWATER MINES. Tho crushing returns from the Black water Mines for May were as follow: —Crushed 3574 tons, yielding 1732 line ounces of gold, value £7350. Working expenses £0043. In addition, 71 tons of concentrates treated, yielding 1520z of line gold, value £045. Working expenses. £ 14S; working profit, £1810; capital expenditure, £510: development expenditure, £301; profit over all, £930, gold at standard value. MANAGER'S REPORT. Golconda. —Tho mine manager reports that during the week the shaft was sunk a further distant f "ft, total below the chamber 22ft. We passed through n small lender which showed strong colours of gold. Tho country rock is improving and is slightly milder. There is apparently very little increase in the llow of water as we go down.