MINING NEWS.

Auckland Star, Volume LXIX, Issue 180, 2 August 1938, Page 6

MINING NEWS.

MATAKI GOLD DREDGE. ! LOSS LAST TEAS £441. STATE COLLECTED £806. (By Telegraph.—Special t* "Star.") HAMILTON, this day. Mr. G. I. Clark, of Hamilton, was elected unopposed to the directorate of the Mataki Gold Dredsinjr, Limited, in succession to the late Mr. .1. D. Smith at a meeting of Waikato shareholders of. the comuany last evening. It was stated that although the company suffered a loee of £441 last year no less than &SO6 was collected in gold tax bv tie Government. Reference was made to the difficulties encountered by the company in rising costs of labour and materials. The tlredge had, however, produced !»r>«or of gold to the end of July compared wit* 61»90z at the same date last year. ADDISON'S FLAT COMPANY. The prospects of the Addison'e Plat Gold -Mining Company were good, said the chairman. Mr. G. M. Powell, at the annual meeting at Westport. While it was true Hiat the percentage of profit was somewhat reduced compared with that of 1033 wLen the .company stnru-d operations. f<t«.idy returns could be exacted for the next five years. The increased wages and higher cost «r supplies and a sli-ht fall In tne price or gold helped to decrease the profits for the year. A suggestion that the Government might assist struggling concerns from the sold tnx revenue was mado by the chairnmn, who said he did not favour the abolition of the tax if the revenue was used to good purine. Mr. Powell said the plant had commenced operations on a new padd<v-fc, and was working satisfactorily. MANAGERS' REPORTS. Mount Lyell (Tasmania). — Fortnight ended July 2O—Mines <ton.« extracts!) : North Lyell. 307-T : Crown Lyell. 1112: West Lycll. 3(1.156. I.yell Cometock : 3590. Xo. .» level Xo. 2 mullock pass rise to lO2ft through ore: No. 2 south drive to soft ihroujrh low-erade ore. Xf>. l<) level miin crosscut to 21ft through porphyry:' main shaft, pump siunp and collar and pent house set completed. Reduction works: Furnace in blast full period: ft."iSß tons refinerv anodes mnde for current year. Coneen- £?£"*,• M,n "Prated 33C hours and treated 4i.->il tons ore. producing 21C4 ton* concentrates. Copper refinery : Tank bonse in operation throughout fortnight. 517 ton* cathode copper produced for" period Total for current year 9527 tons. RETURNS OF COMPANIES. .o.oooVd? i ?Ti2J 5 W h , ? U r e Coa * t) — 32M from