MINING NEWS.

Auckland Star, Volume LXIX, Issue 281, 28 November 1938, Page 4

MINING NEWS.

j PURCHASE OF DREDGE. I j - MAORI GILLY COMPANY. Proposals f«»r tin* inn of tlu» Nf vis Kl«<rri«- t*«»iiii»aiiy"> ilr«. a «l£<» iOtu;:oj . and for Tli»* c\»Tri>»* «»t* npt'mus «»vor ar«';is ' a iVw mil« s south of Kuinai'a i \Y<*st i'«»a>t » wi-r»' arlnpt'Ml hy sharclinMcrs ♦ the Maori tiully tKokiri) tinld (.'nmpariv at th»" annual !u*-« a tiu£ in riiristI'hurch nn Moiniay. A <*iiiiiiii< a ii<.'«»iii«*nt is t«- !»<• inailo iinno'iliai«*ly with th«» ilismuntki i:£ nf tli». N»'vi< fur removal to a site ar i n's. mar Knniara. . j Tin- «iir».M-tors report*ml that tho c««-t of ' the option* would lo* £2570. Tin? ]»urrhase price of the Nevis and eqiiipni'-nt in a partially-dismantled >tat»\ with hardwmid pontoons * at the site nf 111»• I'pper Nevis, would by approximately » WORKSOP EXTENDED RESULTS. ) 1 | j Ciold valued at £1-.«hm» was obtained by -j the Worksop K\t»*nd«'d <l<dd Cnm- ! j puny. I.iiiiireil I West (.'oust). fnr the y«»ar J i ended September •'»<*. <iol<l duty absorbed . ! and realisation expenses £220, leaving . i a net return nf llo.fion. The average n«.t value reeeived per crude . <minee of goi'l was £7 l'»/i. and the total amount paid by the emtipany in gold export . tax amounts to 14757. During the period one dividend of 1<» j»er eent was paid, end [ the reserve fund im*reasefl by £100. making the total reserve fund £17HO. Sine" the <lose of accounts the twelfth dividend of in per cent has been paid, amounting to • £I*>no. and a further £100 transferred to ■ the reserve fund. The direetnrs state that there is every reason tc» believe that the recent average . 1 returns will be maintained. It is estimated , j that there are 1 :ts acres retraining to be [ worked, requiring six or seven years, exclusive of certain high ground along the road. WELLINGTON ALLUVIALS The Stock Fs\change Association has received the following advice ; The report of Wellington Allnvials. Ltd.. for the four j weeks ending November VJ *how* that the I dredge wnrked 4 Jo hours, handling LNS.onn j ruble yards, and re« nvered bullion estiI mated to contain 'jl'Jnz. of tine gold. | | MOLYNEUX OPERATIONS. The removal of ihe Mdyneux Gold " I Dredging Company's dredge further up ill" * | Molynenx liivr H>tago) was completed. L successfully early this month. The reerect ion of the power line and other inci i dental work was completed during the nexi » ten days and the dredge recommenced j operations on Monday in its new position 1 CLAIM FOR DREDGE LOSS. I Advlcc has been received from the Lon--4 don agents of Stafford Gold Dredging, , j X.L. (West Coast I. that the company-* claim against Lloyd's lor tli<- loss (j£ n dredge has been settled for £10,501), in 1 New /calami currency. Payment is ex ■ 3 pected to be made in n fortnight. and con- ; Mdertrtion is now being given to the future , policy of the company. The company's dredge at Stafford, near r Greymouth, sank in ahont 20 ft of wator on March 0 after striking a submerged ' log. The plant, which was electrically ' <lriven. was fitted with line buckets with it - 4ft cubic content. It is operated by a - Melbourne company. The company 'wac formed in 1!).'!4. with a nominal capital of t .'!7..">00 in IJo.imh) siiarc.s i.f •"•/ each, and i operations commenced in I!).'J5. i 1 MANAGERS' REPORTS. t Mount I. yell (Tasmania I ). —Fortnight . I ended November fi : Mines. 10113 extracted - North I .yell 2702. Crown l.yell 1;>20, West Gyell I,yell Conisti.ck .'M2S. No. 7 level : West crosscut to :tOi"t through low grade ore and mineralised schist. No 10 level: Main crosscut to 17!tt't through - low grade ore. Reduction works; Furnace - in blast full period: 11!)5 tons refinery - anodes made for current year. Concens trator: Mill operated 3-'>i> hours and treated 43,000 tons ore, producing 2235 3 tons concentrates. Copper reitinery : Tank g house ir o]H>ration throughout fortnight, 512 tons copper tieing produced for period, Total for current year 1470 tons. Alexander (Reef ton).—Report for the - week ending November 17 No. 0 level : 3 Early part df this week was spent opening . up a boulder of quartz which continued to - lay fairly flat in an easterly direction. No, . 1 crosscut : Advanced further 20ft, making a total distance of 43ft east of No. « level. The country has been hard and drv except . for a little water at 40ft. No. 7» inters mediate drive south : Advanced 3Oft from south end of rise. lae<t rift being driven on r quartz leader:-'. tli<> widest being Gin. Stoping 1 will now b<; commenced above this drive, t Stoping: Has been carried on above No. .1 . reer averages L'ft liin. Grade ..f ore not as ' good a* the north end of block. 105 tons 2 of ore sent to the battery for the week. I RETURNS OF COMPANIES. r Hours Yardage fiold. 1 Company. worked, treated. Oz. Dwt. ? Rim u 11!) 40,42!) 257 7 t Blackball 115 12,500 5D 0 t Clutha lsi — 1511 0 . Barrytown 245 134.000 25!) 0 I Gillespie's 133 15,!t!)5 M 3 10 Argo 130 13,000 57 0 ' Mataki ll>S s,3oii 51 0 Mntaki Junction . 11!) 2ii,o(m> o White's Electric . 122 6,000 3!) 0 Worksop 127 0.000 35 0 11 n!!!r kbnn , Vr Pk dredge.—63 ounces, ll.oou yards, ll.j hours. Bundi Company's dredge, working 85 hours, treated 14,:!5« cubic yards for 0U ounces smelted gold. Mataki.—The telegraphed return for the week ended 27th instant was 50 ounces 1 for J32 hours' work and K3OO yards. Argo Dredge.—SS ounces, 120 hours, 14,000 yards. Gillespie's Beach. —320/. Odwt for 130 hours and 16.778 yards. Okarito.-—47oz lldwt for ISO hours. Alexander (Keefton). —For October 26S tons were milled for 02oz Odwt melted gold, valued at £785 at £7 an oz. J Talisman Dubbo ( Karangahake) .• —For , week ended October 12, 00 tons ore realised " £237. with gold valued at £7 12/ per oz. \ Bulolo (New Guinea). —Total gross pro- ; duction for October amounted to 10.5470z ' of hulliorf containing 13.4570z of line gold > from 1,260,000 cubic yards. Estimated 3 working profit 85220z of fine gold. The above production is equivalent to £11S,011 3 and working profit to £77.102 on the basis of £S 15/ (Australian) per fine oz of gold. I Gillespie's Beach (South We--tiand).— Week ended November 10, a total of 330z lOdwt from 15,005 yards in 133 hours. j Central Shotnver (Otaso). —2Soz 12dwt. Murcliison Mataki Junction.—Return for ■ week ended November 25 : 53 ounce* smeltcil gold for 130 hours, ]S,oooyd«. Big River (Reefton..—liold returns for period from October 1 to November 1!) s 1038 :— Battery department : 360 tons of 3 ore crushed for 20iioz idwt of melted gold. j I Cyanide department: Not cleaned ' up. Total estimated value: £1390. in addition : Four tons of concentrates were • saved valued at i;i3s. Note: In esti- > mating the above values gold has been taken at 140/ per fine ounce.