MINING NEWS.

Press, Volume LXIV, Issue 13108, 6 May 1908, Page 7

MINING NEWS.

(SPECIAt TO "THE PEEM.") AUCKLAND, l£ay 5. Busitess in Talismaca woe done at 51s, 51s 3d, and 50s 6d, with late sellers at 50s 9d, and buyers at 50s 3d Waihis continued firm -with ealcs at £9 las 3d, sellers closing at that price; buyers at £9 13s. (I'BESS ASSOCIATION ■ I^ELEGRAM.) AXTCKLAND, May 5. During April the New Zeal ami Crown Mines crushed and treated 1524 tons of ore for a return of bullion valued »t £3577. This is an increase oompared with the return for March, when 174S tone yielded £'2311. The total emount won from the mine -to date is £731,161. (special to "the pREsa.") REEFTON, May 5. The Biff JBrver Company has declared a dividend of Is 6d, and placed £750 to the reserve fund. It was announced some few months *«o that a krge field of magnetite ore had been discovered in Ofcago and Southland. At the time it was hoped that the discovery would be of considerable value, end the progress made in the way of experiments siaoo has materially strengthened these good opinions. A private, syndicate has up to tho teen oocducting the initial work of development, bnt the "Otago Daily Times" understands that opportunity will shortly be taken of floating; a conmany for the thorough exploitation of the field. Tho rough ore has under test yielded 60 d« cent, of iron, so that should the find prore at all exteneive it is reasonable to suppose that a sound end profitable industry can be built up.