MINING.

Press, Volume LXVII, Issue 20302, 30 July 1931, Page 10

MINING.

GOLDEN DAWN MINES, LTD. The secretary of tlie Golden Dawn Mines, Ltd., reports:— The directors paid a visit to the mill site at Ov.'liaroa, and also the plant purchased by tho company at Muira* Reefs Mine at Te Puko, last week. Very good progress is being made with the mill. The foundations for the tube mill have been completed, and the mill itself was being placed in position. I'reparations for receiving the large tanks are in hand and the framework of the buildiug to house the filtration plant and vats is well advanced. At Te Puke the first of the toll tanks has been dismantled and forwarded to Owharoa. The other two tanks will then bo dealt with, la the meantimo considerable timber and gr;ar in connexion with tho plant ha 3 been forwarded to Owharoa. "When the reconditioning of the mill at Owharoa is completed the company will have one of the most up-to-date plants in New Zealand, and one which should give a very high extraction, estimated at 92 per cent, to 93 per 'cent, of oro value, at a minimum cost. It will be capable of treating 1000 tons per month. Many assay tests of ore reserves prove that the value of proved ore is £5 per ton. It is hoped to have the mine and mill in full operation within three months.

PITT, SON, AND BADGERY. DIVIDEND MAINTAINED. Pitt;. Son, und Badgery, Limitad, slock and ctation agents, Sydney, in 1929-30 reduced its dividend from 30 oer cent, to 7J per cent. The dividend for tho year just closed (June 30th) is maintained at 7j per cent. Profit; including interest on investments, was £35.411, compared with £36,909 the pievious year. Dividend absorbs £21,745, and with £12,484 brought forward there remairm a credit of £26,101. The Board reports that the operations of ,tha company bare been well maintained throughout the year, but the income has been affected by further declines in Tool and produce values. FOREIGN EXCHANGES.

PRICE OP SILVER. (BRITISH OFFICZAIi WIRELESS.) i (Received July 29th, 5.5 p.m.) RUGBY, July 28. Silver is quoted at:— Spot and,forward .. 12 15-lSd per oz.

(KSITXBH OWTCIAI. WiaiLSSS.) , (Receired July 33tb, 5.5 BUGfifeJuly 26. 'i'ho following are . the' current rates of exchange compared with thopa of July 23rd and par:— Par. July. 23'. July 28. I'aris, Jr. to £1 104.21 123.65 123.9 Brussels, belgas to £1 33 34.70 34.79 UeIo, kr. to £1 18.159 IS.lSi 18.16$ Copenhagen, kr. to £1 18.159 . l$.16i 18.16J 'Stockholm, kr. to £1 18.169 18.14J ' 16.154 Amsterdam, fl. to £1 12.107 12.03 12.04J Eerlin, reichmarken to £1 .. 20.43 20? 20i New York, dol. to £1 4.866 4.841 4.85 9-16 Montreal, dol. to £1 4.8E6 4.8G 13-16 4.87 5-16 league, kr. to £1 164.25 163$ 164 Geneva, fr. to £1 .. 25.2G6 24.9 24.89 llilari, lire to £1 .. 93.43 92.63 92.8 Vienna, scbgs. to £1 34.5S3 31.65 34.55 Helsingfors, marks to £1 «... 193.2.3 192J 193 Madrid, pesetas to £1 .. .. 25.223 53.1 53.55 Lisbon, escudos to £1 4.50 '■ 110 110 Athens, drach to JE1 375 375 375 Bucharest, lei to £1 818.6 817 817 Bio de Janeiro, pence to milreis 4.388 3 15-32 3 i B'.ienoa Ayre8, pence to dol. ,. . .. 47.577 3<i 33) Montevideo, pence to dol 01, V Xi 24J Bombay, pence to rupee 15 17 26-82 171 Shanghai, pence to tael 24i . Hi Hi Hong-Kong, pence to dol. 21 Hi 11? Yokohama, penc* to yen 31.56 24 7-16 24 13-32