MINING NEWS.

Press, Volume LXIII, Issue 12995, 24 December 1907, Page 8

MINING NEWS.

MAOBHiANO COPPER; OOMPj^S The ncond ordinary fMHsmf -uijwtli|'; f tfl the •hareholdere of th* Uaorikdb Company, Ltd., wu held in CMMeMI yeeteiday, Dr. Hayw f>reaidin*.(. --". .•fcrflfigH .The CfatinuD Mid be had following: teleewm.from tite gepcntt iWK| -"Champion MintV Tto abaft aadjMrMi 1 of this mine ha* Men. nnwaiawd MMMi gallon* of water'pimped oei • lW4i§iiK§ drive*, and winaMi driven «t£Wff|l amount 2042fi are amr opraaft" XViM MMI it wm emtbemd that the faoiaUng «Ww3H| beta completed and the eUata drained the wo*kine* it 'would , now MMj|§ nble to miooewftilly operate tb* lw'l|fijjgj[ ingi. The lower timbers were' in * Mate of preaetvation. and during iiona * good deal of natire copper , <n>*fpjjff with, and tfaent wae every MMai qnantitiea of rich ore*. Ai U» thtttai PP|| tbe drive on the Matai lode 4«lMt *afsfc|| driven with. 4163 ft bow open ts'mmm'M and at the Moneter 648 ft had htm tfmm out of 6Oeft of driving •«>* • teWa the Imperial lode a level of 600 ft had 3*ggft drifm. Ai the Champion, Unite*-»ed;ll«»ffi eter a Jot of dead work bad been doe*'«*§J§ hafl opened up good Bridie* of or* *«*S|l can now be won cheaply and wptwwtWßg and a large toaMee of on i* at J»Ws ! ffi lyiinr »t the vacioue lereli wady - W*. r <Bjg! smelter. E*rJy in Uw year two MaI;VtM|M. of 1000 base of ore, taken fro* ■'■••■•fai Noe. 4 and 5 lerrt* »t the shipped to Anatolia for treatment* MMJ*p* turned «a ti«jr Taloe of M per etot «f>«p; Acting on the 'advioe of Mr MoMarty,, directoni decided to erect a iwrbatorjr'feglßi naoe o»pabk> of dealing wHh the «na M«K% cot at. The erection of the nnelter * a fj , ?fj# >eing pushed on with, und »at bo in fall work in thwe mouth* TSiHj e?en a small furnace Ibe Conyaay ***£■»& prodnco copper and ebow a fair - W>P*gg of profit that would wsiura a *ait w***Sla on tbe capital of the OoapuajT. ,w«f »J1 allowed 23b for mining ere, dnelepem , "iW tbe mine*, «nd delivery to the per ton. for moblting, and other ** e «W;OT for realisation. Aeeemine tto o» M^j* per oent. a-rer»g«, and 3660 tan* per 3"%>g| at • profit of 87». copper-ait J6O pjr the net profit wwlfi be JKlBi Mi U* W»*«; year. But t»k« thin eajne tonnage and ajfrffig centage, and nliotr for copper £16 a ( profit would be £12227 W*. Allowiny.**'*&f with the help of the'vjiamjSS>o r " sn I *Jsi!?J[?-"M patire copper the pcroenfeee •■""Ji raised to 15 per cent., the nett profit *fi|,| ft«> year would be £3LOSi. • ly .<j^| TThe Chairman moved the adopbon * »■• «Wj oirectora' report and the etatement <» CcmpaDy'e aoooatrtJ. The motion w» «gia«g/| ilr Smythe w«e re-elected a> diresier, im^y, Mr Hampaon wa* rc-olcctcd auditor. . ' / Ttfe A bonua of 150 guinea* wa« voted to VijTg directors « " it-Jl (sfecixl to "Tira miMS.") "S!^| OBEYMOUTH, Decembw IJ^j^ The Big Biv« CompjKij washed «JPl^;^ 7*708, from *«> tone. Thje he* nntblje JJJiprt t«sciare <o declare a dividend of l» W P*^7s there, and add £600 to the reserve fund. Uj P»ctolu» Ko. I. R«t 730« «d«H, andl Nβ.,»v-> 211ot ]6dwt. A Avidecd of B» per ahare **j^ been declared- . -,'ff (PREfiS ABSOCIATIO.V TELEOBAM.) *Vl EBEFTOX, Deownber* , '^: Tbe Pactolua Coropany hu 4*tei*»>-&i dividend of 5e per ehwe. and! the a^ay.^ ltiver Company • dividend of la Cα p«r •«■* » -jj