MINING NEWS.

Auckland Star, Volume LXVIII, Issue 38, 15 February 1937, Page 4

MINING NEWS.

TALISMAN DUBBO. In order to provide capital for the erection of a treatment plant, the directors of lalisman Dubbo tiold Mines. Ltd. (Karangahake), propose to issue 20,000 shares of ;"/ each at a premium of 2/0, according to a circular issued to shareholders. The shnres are offered in thfe hrst instance to shareholders in the proportion of one share for every two held. The present issued capital of the company in £0588. in 38,353 shares of 5/ each, and with the proposed issue of 20,000 reserved shares the total subscribed capital will be £14,588. Profits have been appropriated lor some time for the cost of election, instead of the payment of dividends, and there is now a credit of £3500. It is proposed that this should be reserved for carrying on mine development, while the new issue will provide £ 7500 for the erection of the plant. The future net profits from treatment at the Golden Dawn battery, relieved of the charge for development, will be considerably increased and will be used for payment of dividends. The present cost of treatment amounts to £3 1/0 a ton, while with the proposed plant the estimated cost Is about £ 1 a ton. YIELDS OF COMPANIES. Golden Sands—Bet urn 530z lldwt for 42 shifts of eight hours each. Mossy Creek (West Coast).—Last week, 260z 17dwt for 132 hours and 12,84Syds. Walpapa.—34oz for 135 hours. Okarlto.—27oz lldwt for 121 hours.