MINING NEWS

Auckland Star, Volume LXXII, Issue 166, 16 July 1941, Page 3

MINING NEWS

ALEXANDER REPORT Alexander Mines, Ltd. (West Coast) report lor June as follows:—Scoping- has been carried on above the intermeciate on lode varyinc; in width from Ift to sft. The lode on top is up to a level with the floor of No. 5 intermediate, and the lode looks as if it. will go some distance higher yet. The stope drive was put out to a footage of 60ft. all being on lode from -Sit to s»t in width A connection has now been made with a small crosscut put out. from the intermediate 6topes. For the month 140 tons have been sent to the battery. MARTHA COMPANY'S PROSPECTS "In present circumstances, and having regard to tne signs of exhaustion in the mine, we must expect both a reduction in the tonnage crushed next year and an incre-.se in our working costs." stid Mr. G. R. Mit.chiscn. chairman of directors ot the Martha Gold Mining Company (Waihi). Ltd.. at the annual meeting in London. "In the near future there is bound to be a reduction in dividends. Beyond that I cannot, venture to prof»hesy. There are too many uncertainties, not only n the actual operation of the mine, tut also ?s regards taxation, labour supply and many other matters."

Mr. Mitchi6or. said there had been considerable success in getting out ore from known sources. Ore reserves showed decreases, but they were small in comparison with the actual tonnage extracted. "Go slow" tactics in October resulted in a loss of 5000 tons ol output. YIELDS OF COMPANIES Argo (West Coast) —For week ended July 12 340z in 127 hours from 10.500 yards.