MINING NEWS.

Auckland Star, Volume LXVII, Issue 181, 1 August 1936, Page 4

MINING NEWS.

WEST COAST DREDGES. QUARTERLY RETURNS. Returns from the New Zealand-owned dredges operating on the West Coast continue to be satisfactory, and most companies are showing a good margin of profit. Aggregate returns and dividends paid during the three months ended June 30, are as follows:—• No. of Oz. Returns. Divs. Argo •••«.♦.... 837 13 ldashare Worksop 561 13 ■ — Mossy CVeek .. 554 10 Id a share Mataki '491 12 — Maori Gully .. 392 10 — Gillespie's 337 G — Okarito 179 13 — In addition to the dividends paid during this quarter, Worksop declared 10 per cent and Maori Gully Id a share early in July. The Maori Gully dredge was negotiating a gorge during the quarter, and Gillespie's dredge was undergoing repairs. The licet has now been added to by the Xemon.'i Dredging Company, whose dredge commenced operations at the end of June. Results so far are good, for the two returns •to date have been : July 13, S2oz 17dwt; and July 24, 1350z 17dwt 2gr. _ Next Tuesday another dredge, that of the New River Company, will commence digging. The company's area is in the same district as Xomuna, and the dredge is of the most modern type, power being supplied by a 140 h.p. Allen Diesel engine. The White's electriet dredge is expected to commence operations within the next two months, the area being at Barrytowi. Aggregate returns for the West Coast dredges for the six months to March 31 were published on April 0. The following are last week's returns from the dredges Ilr. Oz. Dwt. Nemona 140 130 18 Argo 117 04 0 Gillespie's Beach 130 00 18 Mossy Creek .. . 125 57 1 Mataki 137 40 0 Maori Gully .... 130 39 3 Worksop 120 38 0 Okarito 122 15 1 Total — 457 1 Average — 07 -1

KING SOLOMON RETURN.

(By Telegraph.—Press Association.) IXVERCARGILL, Friday. The return at King Solomon mine this week was 330z 7dwt. YIELDS OF COMPANIES. Maori Gully.—3loz 12dwt, for 134J hours. Golden Sands.—--oz 19d\vt, for oo shuts of eight hours. , Argo Dredge.—G'Joz, for 125 hours ana 12,200 yards.