MINING NEWS.

Auckland Star, Volume LXIX, Issue 124, 28 May 1938, Page 22

MINING NEWS.

PUKET TIN DREDGING. IjIVIDKXIJ 10 I'ER CENT. Al the annual meeting of the TMikct Tin Dredging Company, held in London on Slav 11. tl h.iirmnn. Mr. (J. K. Mitchison, an'nouneed that the profit for the year was e:i7,i;47. compared with g 111.5.-.1 in 1!I3I!. A ha la lice ol gllllil is being carried forward to tlie present year.

A total of ",711.-140 cubic yards of ground was dredged, compared with 1.5.'i1.-N.-p!i.r,7:S cu'hlc yards, producing lilS tons of tin ore. an increase of 212 tons over ItlSli. Sales of ore realised nn average price of

Cl.'iS ."i 2 a ton. against CI V.I 7/4 a ton in Ihe previous year, amounting to gßli.ft4.~i. Tin duty totalled g17.r.3~. Work ins costs were C :!.".. 1 .~i.~i. against g 2K..N.->4 ill ]«l3»i.

IMe :.: mpany s peonmsihle mil pur for (lie lirst half of the current year is 207 tons of I'm ore. tin- Siamese quota being at the rate nf l! 4 per cent of standard assessment," Mr. Mitcliisuti continued. "For the three months to March 31. a total of sin lons was produced, |i,c estimated mine profit for the (liiarter, subject to amortisation and London expenses, being C 2134. The relatively low "ill put was caused by the dredge being closed down lor February in order that the screen might he thoroughly overhauled and strengthened. Filly -three tons of tin ore were produced in April. There is every reason |o expect that the full quota will h'e olit.-iiucd hefore Ihe end of June. of the total area held liy the comp.inv. approximately fins acres. !1.-> aercs had 1 n dredged up to 1 mlier 31 hist."

A llmil illriileiiil of 7, per cent (less income tax of r,'<; i„ the im.uii.li, making a total iliviilcnil of in per cent for the year, was declared.

of the ClT.O.ftftO capital issued hv I'uket \ Tin in shares of ~,/ each the Wililii Investments Company now holds .V.13.333 shares and the Waihi Grand .1 unction ciolii Coinp.my 33.3211 shares. The holding of Waihi " Invest its was reduced last year hv J 411.0110 shares, which were placed on the - market to obtain quotation on the 1 Stock Exchange. ' MOUNT MORGAN OUTPUT. J; The following S£ the Mount Morgan pro- I (Miction report for four weeks ended Minis Urn ml no ,1, ; -,si:-l i:ns; o r - treated - sulpliide 34.3..11 tons, oxidised 22.'J71 tons- 1 production (estimated), gold 44310z copper 171! tons. The next report will cover a six-weeklv 1 period to June 30. the closing date of the company s fliinnclal year. .<• YIELDS OF COMPANIES. Xemona (West Coast). —llljoz 10.C.00 yards in 330 hours. .Maori (Jully (West Coast). —(57 ounces 13 - dwt lor 103 hours. i Mossy L'rwk (West Const). —o9oz for ' 11.147 yds and 131 hours. Golden Sands (West Coast). —3~oz 12 dwt for 44 shifts. (