MINING.

Press, Volume LXIX, Issue 20756, 17 January 1933, Page 8

MINING.

MAHAKIPAWA GOLDFIELDS Advice has been received from the mine manager that the washup on January 14, produced 15 ounces alluvial gold. GOLDEN SANDS, LIMITED. Under date January 14 the chairman of the Golden Sands Company (Mr B. T. Tosswill) reports that since the last report a commencement has been made with the sinking of the shaft for the main elevator. A temporary plant for this purpose has been used, which was only large enough to operate half the tables. The preliminary opening out of the shaft is such that considerable adjustment has to be made and stoppages are frequent meantime.' This will continue more or less until tho main elevator is secured in position on the bottom. This will bo completed about the end of January, when the plant will be working at full capacity. With the trial run of the temporary plant the gold secured for 20 actual hours' sluicing exceeded the expectations of tho mine manager (Mr J. Dennehy), and he is of opinion, niter seeing* the results, that the estimates in the' prospectus will be more than justified. The whole plant is working particularly well. The efficiency of the gold saving tables, the hopper, water pump, and other details has been proved. It is now amply evident that maximum efficiency in gold saving is embodied in the plant. OKARITO. (rRESS ASSOCIATION TBLEGHAU.) DUNEDIN, January 16. The Okarito return for the week ended on January 14 was 51oz 12dwt for 130 hours' dredging. AUSTRALIAN GOLD PRODUCTION. The revival of interest in goldmining in Australia, mainly because of the premium on gqld and the unemployment problem, is reflected once again in the increased production of gold during the year that has just concluded, states the "Melbourne Age." Accurate figures are, of course, not yet available ,but official estimates of the year's production in each State enable a fairly good idea of the total increased production for tho year to be ascertained. The following table shows the official estimates of production in eacb State : 3930. 1931. 1932.} Fine oz. Fine oz. Fine oz. Western Australia 416,369 510,570 601,710 Victoria .. 24,119 43,637 43,112 New South Wales 1'i.433 19,673 27,000 Queensland .. 7,821 10,321 *15,62fi Tasmania, .. 4,466 4,759 5,000 South Australia, .. 1,311 2,752 2,900 Totals .. 466,573 691,7-12 698,348 ■(Official estimates. *TJp to November 30 only. Owing to the fluctuating price ot gold, the best basis of comparison ,n regard to production is in the quantity of gold produced. This is shown in this table of Australian production: — Fine oz. 1925 559,188 1926 621,315 1927 ... ... 508,201 1928 457,669 1929 427,159 i 1930 466,579 1931 591,742 I 1932 ... ... *698,348 J •Approximate estimate. It will be seen from the foregoing table that the production of gold during 1932 was the highest for many years, even higher than in 1924, when the yield was 675,937 fine oz. The Western Australian output, of course, has been a large factor in the increased production, but Victoria ana" Queensland have also made marked progress. SYDNEY BRIDGE. CONTRACTORS* £247,000 LOSS. (feom ou* own coreespondent.) LONDON, December 6'. " The accounts of Dorman, Long, and Co., the iron and steel manufacturers and constructional engineers, of Middlesbrough, show a debit balance of £387,.768 as a result of the year's operations to September 30 last. Of this debit,, £247,000 is due to loss on the Sydney Harbour Bridge contract. One of the greatest drawbacks has been tho depreciation of Australian currency. Apart from this loss the year's results compare favourably with those of the preceding twelve months. At £340,116, including £81,792 derived from other bridge contracts, trading profits are substantially the same. Since only £ 10,376 is brought in, the earnings fall far short of the debenture interest requirements (£303,754), but the position is eased by a surplus of £119,344 brought in from taxation reserve. The debenture payments leave a deficit of £140,768, which, added to i the Sydney Bridge loss, brings tho outstanding debit up to £387,768. Depreciation has not been charged upon fixed plant, but all plant in operation has been fully maintained. The maintenance of idle collieries, mines, and works has been charged against j profits. Fixed assets stand in the balance-sheet at £17,757,288, which obviously is not commensurate with present earning capacity. KAIKOURA DAIRY COMPANY. A meeting of the directors of tho Kaikoura Co-operative Dairy Company was held on Saturday night. Present: Messrs P. S. Humm (chairman), H. Ashby, J. D. Boyd, A. Keenan, J. A. Mackle, C. Moran, R. G. Miles,, and P. W. Adair. The manager reported a big increase - in supplies, the figures being 120,0001b, as compared with 107,0001b for December of the previous year. The average test was 8.965, over-run 22.28, and grade 94J. Everything at the factory was working satisfactorily. Advice was received that Kaikoura shipments had sold in London at 82s and 84b. The quantity of butter manufactured for December was as follows: —For export, 114,1251b, 125 boxes, pats 62501b, other pats 1561b. The quantity of cream collected was 248,8161b, butter-fat 98,660.2, average test 3.965. The make of butter was a record for tho factory, 120,5341b. The payment of 8d per lb for December was confirmed.