MINING NEWS.

Auckland Star, Volume LXIX, Issue 220, 17 September 1938, Page 8

MINING NEWS.

GLENROY COMPANY'S LOSS,

A net loss of £11)4, -without allowing for depreciation, Is shown in the accounts of Glenroy Gold. Limited (Murchison), for the year ended January 31. The loss in the. previous year was £GO. The directors state that during the greater part of the Year the company had to forgo its share of the gold won in order to keep the claim alive. .'.lie report adds that £570 has been subscribed in debentures, but the driving of the tunnel, the repairs to the race and sundry expenses have exhausted that stun, and the directors have no working capital ! with which to carry on. They have there- 3 fore applied to the Government for a sub- J sidy and are now awaiting the decision of I the Minister of Mines, the Hon. P. C. Webb, p YIELDS OF COMPANIES. | JCokomni (West Coast).—3o2oz 2dwt | lrom a quarter of an acre. This area | borders the edge of the claim adjoining the f hillside. Nearly half of the paddock was high bottom. Gillespie's Beach.—3sooz for 166 hours, f BaiTJ tOTHi.—Dredge return for first halt 95 000 yds 1 " S:Ioi! lor - 12 Hours and Goldflelds Dredginj: Company.—l7oz ldtrt tor eight hours' dredging. - j