GRAND JUNCTION.

Auckland Star, Volume LXIX, Issue 138, 14 June 1938, Page 4

GRAND JUNCTION.

LAST YEAR'S OPERATIONS.

LOXDOX, Mai* 28. The annual report issued by the direct-ore of the Waihi Grand Junction Gold Company for the year ended December 31, states that 18,813 tone of ore were treated by Martha Gold Mining Company (Waihi), Ltd., and the amount received as a result of the treatment of this ore, in accordance with the terms of the company's agreement, was £6.505. Sundry receipts, including interest, amounted to £3356. The sum of £3260 has been paid or reserved for income tax. The development reserve account balance of £4500 being no longer required as a reserve for development operations has been transferred to the credit side of the profit and loss account. After making this provision and deducting administration and general expenses, there remains a balance of £0621, which, added to the amount of £3599 brought forward from last year, makes an available balance of £13.220, which the directors recommend should be applied as follows: To dividend of 4d a share, free of income tax, £090(5: to be carried forward to next account £6314. At t'he end of the ye:«r nearly all the payable ore had been exhausted and the position at the present time is that mining operations are < mfined to the extraction of *. -aery small