MINING NEWS.

Press, Volume L, Issue 8477, 8 May 1893, Page 5

MINING NEWS.

(PEESB ASSOCIATION TffIMEQaAMS.)

AUCKLAND, May 6., The Cassels Company has purchased th*» accumulated tailings of the Waihi Gold Mining Company for the sum of £6000. DUNEDIN, May 7. The Dunedin Gold Dredging Company** return is 140oz of gold.

(B? Teleobaph.) v

(FROM OUB OOBKESPONDENT.)

REEFTON,May7. The following are the mining returns for the paat week:—Globe, 160oz of amalgam from 160 tons; Progress, 3500z of amalgam from 200 tone; Cumberland, 1240z of amalgam from 120 tone; Big River, 6950 a of amalgam from 135 tone; Wealth of Nations, 2170z of amalgam from 168 tons. ' The manager of the Big Biver mine, in hie weekly report, states that the clean up, amounting to 6950z of amalgam, yielded 2040z 16dwb of retorted gold. The Stock Exchange report is as follows t —" The battery returns for the past week amount in the aggregate to 12260Z of amalgam from the Big Biver, Cumberland, Globe and Progress mines. The Drake Company has also been crushing, bat as yet there is no return to hand. Scrip business continues quiet, and no marked improvement ie anticipated for ft little time. Thcro have been buyers of Alpine, Big River, Progress, and Lyell Creeks, and Drakes have also been somewhat firmer. The Progress is now the highest priced stock in the field, and it is expected that the Company will' be in a position to' pay regular dividends by the end of next month, meantime sellers are scarce. The Cumberland return shows a falling off, and the shares are somewhat easier in consequence. The Alexander Dredge is again at work, and as the Company is now practically out of debt dividends may bo {looked for at an early date. Big Biver shares have been very firm, and this week's return should keep up their price. It was reported to-day that good stone has been got on the Amazon leaser adjoining the Big Biver, and a parcel of quartz is being brought into town to be tested. Gold-bearing stone has also been found in the face of the Exchange claim, and further particulars are waited for. The Cassel plant at Boatman's is now in full operation, but the results will not be known for a week or two. The following are the mid-day quotations :—Alexander Dredge 2s 3d to 2s 6d, Big River 8a to 8a 6d, Cumberland lie 6d to 12b, Exchange 6d to od, Golden Lead la to la 3d, Globe 10s to. 10s 6d, Dark Is 6 J to 2s, Lyell Creek 7d to 9d, Lord Edward 9d to Iβ, No. 2 Dark Is 5d to Is 7d, Progress 16s to Ida, Russell Is 9dto2s, Success 4d to 6d, I)cake Iβ 9d to 2s, Alpine 14b to 14a 6d, Wealth Is to la 3d."