MINING

Press, Volume LXIX, Issue 20989, 18 October 1933, Page 11

MINING

BELL HOOPER CO3IPANY The report on the Bell Hooper mine lor the week ending October 14 states: The No. 3 cross drive east was advanced 18 feet and continues to show I'airly good gold prospects on the bottom. The No. 3 stope drive east was advanced 14 feet and continues to show I'airly good gold on the bottom and for a short distance up in the wash. This drive is running parallel and 50 feet youth of the No. 3 cross drive east. No. 2 cross drive east advanced 14 feet and was stopped pending the driving of a drainage and prospecting drive north ahead of the No. 3 cross drive:;. A start was made to take out a block from the west boundary. Generally speaking more gold was seen in the advanced faces during the week, ana 2'Soz 19dwt was washed up.

.VEW CORNISH POINT An. exhaustive examination of the New Cornish Point claim was made last week by Mr Vickerman, consulting engineer, in company with Mr J. Roche, director, and the mine manager, Mr Moyc. The Government geophysical survey party was also on the area all last week. When all the data as to depth, etc., is available work of developing the area will be put in hand. OKARITO COMPANY'S RETURN The following report relates to the four weeks from September 10 to October 7:—Total gold won, 1790z sdwt; total time worked, 449 hours; total nonworking time, 127 hours; total yardage treated, 29,200, an average of 65 cubic yards an hour. Average value of ground (on basis of gold worth £4 an ounce'), 5.9 c! a cubic yard. GOLDEN PROGRESS COMPANY The mine manager of the Golden Progress Quartz Mining Company (Oturehua) reports as follows: Since last report the winze for the well hole at the end of the crosscut has been sunk to a depth of 18 feet and this is now large enough for a sump from which the mine water can bo pumped when we start sinking. We have discontinued this work. In the sinking some very good quartz was taken out and sent to the battery hopper. The remainder o£ the underground men not engaged in the sinking of the winze were engaged in breaknig out quartz of good value from the prospecting levels. In all about 50 tons have been broken out and sent to the hopper and is now being treated at the battery. The plates look well so far. and it is estimated to crush out about 2oz to the ton. The boiler has not yet arrived at the mine, and until it is delivered nothing further can be done as a preliminary to sinking except alterations to a few pipes, so we propose to employ the men breaking out ore left in the present levels. This will be profitable work in the meantime.

ELECTROLYTIC ZINC PROFITS

Alter providing for depreciation and taxation, net profits of £223,003 have been earned by Electrolytic Zinc Company of Australasia. Ltd., for the year ended June 30, according to a preliminary statement issued by the company. Net profits and appropriations compare with those of previous years as follows: — ion. 3 002. I<J33. Xel profit . . 5,678 85,000 223,003 To aniortisiUi'in and depreciation .. M 5.000 145.100 145.000 Taxation .. 7,175 12,G0G 411,706 Debenture sinking fund reserve .. 15,900 21,000

BULOLO GOLD DREDGING COMPANY

Mr Fred G. Dunn, New Zealand attorney for Clutha Development, Ltd., advises of the receipt of the following production report of the B'ulolo dredges:— "For the month of September the total gross production amounted to 11,063 ounces of bullion containing 7335 ounces of fine gold from 440,900 cubic yards. Estimated working profit is 5516 ounces of fine gold. The above production is equivalent to £55,012 10s, an J working profit to £41,370, on the basis of £7 10s (Aust.) an ounce of " Details compared with the two preceding months are: July 01. .Vug-. 3J. Sept. 30. Bullion. . > .~. 11 nro/.. 12,..U4 12,13-1. J1,06u Gold, fino oss. B,'-"JO 5,040 ~d-> 5 VALUE—'Anst. --„,„ currency £61,723 .SCO,.-,oi i'oj.OlPer cub. yard /37.5S /2&.61 /29.9-t Working profit £A-13,877 £A18,217 £A-11,370 ■ ; At JEA7/10/- a fine ounce.

FOREIGN EXCHANGES (BKniSti official v.'inrxsss.: 'He-rived October 17, 5.D p.m.) RUGBY, October 16. Par. Oct. It. Oct. 10. I'arii. Lj. !<■ { . :i . n 80 15-32 SO 19-32 Now YorL. dol. to il -I.R6U -t-37i 1-J----ilontroal. clol. _ , toil ISfiO -l.ilPi -''G6i Brussels, bfJiras to il "5 22.0 1 22.6.,?, Geucvji, fr. t<> XI Amsterdam, H. to £1 12.108 7.J2 7.S:.'i Milan, lire <o 2,1 5.3-1 39:t 39 13-10 Berlin, reieh- ! marten to* I 20.-13 13:17 a 13.: H ! Stockholm, !cr. : to £1 18.130 19.-10 X'J.4O Copenhagen. kv. to 231 13.139 22.40 22.-10 Oslo. fcr. to £i iß.isr> t'j.oo IV.'.".' Vienna, stilus to 2:1 ;13.336 2y 2-^J (nom.) (nom.) Prague, kr. to ill itil-25 106« !OCi llelsinfcfors. marks toil 103.28 22Ci 22-GJ Madrid, pose- , , tas to £1 25.2215 OT'SI-JL' "/2J-o2 Lisbon,eseudos to £1 mi l'j;i:,' l f, -> Athens, dracb to SI 375 3%'J -•7') Bucharest, loi to £1 SIS.6 MS 315 Belgrade dinars 25.22J3 -■- 232 i Kio do Janeiro penes to milreis .. -1.502 -I4 . -t« foftiuial) (.ofticiaJ) Buenos Aires pence to do!. -13.577 -<-l;j -t-.j, -'official') (ofjiclal) Monte-video, pence to dol. 51 '■'<"! "•£■ uiora.) (nom.) Bombay, pair;© to rupee 19 -iSS-S-i 18 3-6-1 Shanghai, penceto dol. ' 132 35j Hon*? Kon,?, perjeo to dol. '' 17k '7 J Yokohama, pence-to 3'ec 2-1.58 I-IJ-15 l-u Warsaw, par zlotyatoi'l 45.'36 Batavia. guilder 12.1.07 * rjetormined. by price of *ilver.