MINING NEWS.

Auckland Star, Volume LXV, Issue 69, 22 March 1934, Page 4

MINING NEWS.

MAHAKIPAWA RETURNS

Accounts of Malia kipawa Goldllelds, Limited, operating in Marlborough, for the year ended December 31, show a net loss of £1484, compared with a profit of £<40 for 1932 and a loss of £319 for 1931. '! lie gold won was 1107055 9(1 wI, wliicli realised £7880. There is now a debit balance in the appropriation account of £1051. The directors state that, wllilo the company experTcr.ee(l a difficult period at the mine, resulting in a reduction of the quantity of gold won. the outlook at the mine had improved materially during recent weeks. During the year working expenses had been reduced to the absolute minimum, and everything possible bad been done to ensure the efficient maintenance of the plant at the mine. There bad been a substantial improvement in recent weekly returns. The lead had been hearing to tlie south-east, entirely away from the old workings of the Alice Fell and Golden Gate mines. The development was decidedly encouraging, as indications were that the company was on an extension of the old King Solomon lead.

YIELDS OF COMPANIES. 15ell Hooper (Cromwell). —Last week, oOox 14(1 wt. DIVERTING THE SHOTOVER. Willi the object of blocking the Shot over River, Otago. anil turning 1 the water info a cut in order to divert tlie river, Ilie Sandhills C'ompanv some months ago entered on the undertaking of blasting a large body of ! rock into tlie river. The shot was made I last week, and it is estimated that 20.000 i tons or rock was partially lodged in the (river. It is expected to complete the diversion in about two weeks.