MINING NEWS.

Auckland Star, Volume LXV, Issue 37, 13 February 1934, Page 4

MINING NEWS.

HAURAKI CONSOLIDATED. A decision to increase tlie capital of Hauraki Mines Consolidated, Limited, by £10,000 to £110,000, was made at a meeting of shareholders in Auckland yesterday. It is intended to issue 200.000 new shares of 1/ each, giving these shares, preference rights. The present nominal capital is £100,000 in 400,000 shares of 5/ each, tlie paid capital being about £85,000. The company proposes to work its property at Coromandcl as a low-grade proposition. For the past two years it lias not been actively mining, although several i tributers have been at work. COMPANY YIELDS. Okarito. —Wasli-up for week ended February 10 was G2oz 4dwt for 112 hours' dredging. Four-weekly report, January 1 to January 27Total gold won, 1330z 14dwt: total time -worked, 339 hours ; total non-working time, 24 hours; total yardage -worked, 19,100 ; average, 56 cubic feet per hour: average value of ground, 6.7 d per cubic yard on a basis of gold worth £4 per ounce. „ . Gillespie's Beach. —Return of 420z odwt for 105 hours' dredging for week ended February 10. The Brian Boru gold dredging return -was 490z lOdwt for 121. working hours.