MINING NEWS.

Auckland Star, Volume LXX, Issue 88, 15 April 1939, Page 4

MINING NEWS.

MOUNT MORGAN, LTD.

OPERATIONS IN MARCH

WORKING SURPLUS £11,238,

Mount Morgan, Limited, in their monthly report covering the four weeks ended March 22, state that the total material mined was 170.070 tons at 2/0 55 per ton, compared with the progressive average of 2/9.51. Material delivered to treatment plants included sulphide mill 30,830 tons, and oxide mill, 25,712 tons' making a total of 02,542 tons.

The detailed report is as follows :— Sulphide Mill: Material treated, 41,600 tons at 5/9.43 per ton (progressive average 6/4.30) ; assay value, 2.9'Jdwts gold, .92 per cent copper; production, 2252 tons concentrates containing 39100z gold and 310 tons copper. Oxide Mill: Material treated, 53,940 tons at 4/0.63 per ton (progressive average 4/4.65) ; assay value, I.3odwts gold ; production, 1.5410z gold. Material treated includes 29,410 tons of sulphide mill residues assaying 97dwts gold. Copper Precipitation: Production amounted to 30 tons of precipitates containing 11 tons of copper. The estimated value of production, less cost of realisation, was £55,549 and the estimated operating costs, including overburden removal, £47.011, leaving an estimated working surplus of £11,238. In arriving at the working surplus no provision has been made for depreciation, overhead expenses of £2000 and preference share dividend £1231. Capital expenditure for the period amounted to £5423. MANAGER'S REMARKS. Fourteen wet days, registering 43 inches, retarded operations in the open cut. The oxide mill lost one day due to wet weather, but the sulphide mill worked full time. In mine preparation the 650 ft level crusher station was completed. The construction of the No. 2 Edwards roaster is nearing completion. Both mills ran smoothly during the period. The conversion of the copper smelter was resumed on March .">

anrt blister copper produced was S7 tons. The first shipment of 8:2 tons of blister copper wns dispatched to Port Kembla on March IS.

SYLVIA DEVELOPMENT. SUBSIDY FROM GOVERNMENT. (By Telegraph—Press Association.) THAMES, Friday. The Minister of Mines, the Hon. P. C. Webb, has advised Mr. J. Thorn, M.P.. that Cabinet has approved a subsidy of £1 for £1 up to £2000 to the Sylvia Gold Mining Company, of Tararu Creek, toward the cost of sinking and crosscutting the Sylvia reef.