MINING

Press, Volume LXXI, Issue 21423, 15 March 1935, Page 13

MINING

GOLDEN DAWN RETURN For 12 working days the Golden Dawn return to March 4 was £I4BO, from 312 tons of ore crushed; gold valued at £7 2s an ounce. MACETOWN DEVELOPMENTS The mine manager's report for the week ended March 9 states: The trenching of the Maryborough, portions of the Garibaldi, and All Nations lodes, is now nearing completion. The lateral extent of the new shoot has not been determined. This information will be available on March 15. when a prospecting tunnel will be laid out to intersect the shoot 100 feet below the surface. A survey will be made of the whole of the mines, and a scheme of future operations designed according to the zones containing the various pay ore shoots. This will include the Garibaldi main and subsidiary shoots, Maryborough shoots on the Garibaldi line, and the All Nations' line, the Premier shoot at a lower horizon, the Lady-Fair shoot, and the Homeward Bound three main shoots and subsidiary shoots. The whole of the mines will be connected to one main working level and thence to a central mill. This work of surveying and designing the scheme will be completed by the end of March, at which period I advise the directors to proceed with the incorporation of an operating company suitably capitalised. BELL HOOPER REPORT The mine manager reports that No. 2 tunnel was advanced 9J feet; total 313 feet. BARRYTOWr.' GOLD DREDGING At the statutory meeting held at GreymoLilh. Mr A. Percy Penman, 8.E.. in moving the adoption of the report, said that the receipts amount to £66,250. In other words, the whole of the capital of the deferred issue has been paid in full and 10s a share on the 125,000 ordinary 20s issue has also been received. There has been no deduction for commission of any kind from these receipts and to all moneys paid into the company's office in Australia exchange has been added to enable the amounts due to be paid into the Greymouth office net without any deduction. The payment to the vendors represents the cost of the acquisition of the land and boring expenses incurred by Alluvial Gold fOccania), Ltd. The amount of £1546 0s 6d paid to the Crown, was necessary in order to make your titles freehold. The preliminary expenses amount to £498 8s 9d, out of which registration fees and stamp duty on contracts paid to the Government amount to £421. There was at credit the sum of £18.815 lis Bd. which will be quite sufficient for some time to come. Every endeavour is being made to take advantage of the high price of gold by the equipment of the property at the earliest possible date. Plans and specifications for a modern bucket dredge with a capacity of at least i 200,000 cubic yards a month are now I being prepared by Messrs F. W. Payne and Son. Mr G. H. Watson is now in California inspecting the latest bucket dredges in Western America, and it is confidently expected as a rei suit of his enquiries that our equipment will b? most modern in structure and gold-saving appliances. There is no reason to alter the forecast that production will commence bv the end of 1935 or the beginning of 1936 or that the all-in monthly costs will not exceed £1750. while the average monlhlv vie.'d should be approximately' £BSOO with gold at £6 (New Zealand i an ounce. The dredge will treat a large monthly yardage and should have no difficulty in recovering the gold values as disclosed by the bores. The only contingency is the price of gold. We base all our calculations upon £fi an ounce (New Zealand currency), which is the lowest figure at which, with the present outlook, we believe we should estimate returns, equivalent as it is to £4 16s sterling, whereas today the price of gold is about £7<2s , 5d sterling, which should allow ampl : margin. SKIN SALE AVE'EKLY OFFERING The Christchurch Woolbrokcrs' Association reports having held its weekly skin sale yesterday, before the usual bench of buyers. The following is the range of prices:—■ Sound. Faultv. d. d. d. d. Pelts .. 2 to 2 v i H Crossbred: ,', to 2 woolled 3 2 to 3 3 to full woolled 4 3,' ( Three-quarterbred: ] to i woolled 3i 2,1 to 3.1 :; to full woolled 4,} 34 Halfbred: ,'v to .'.■ woolled 3 : ; to a 2J to 3.'. : i to full woolled 6 to 8 5 to 7 Lambs .. 5 to 5 : ,' 3.? to 4] Hoggets: Black 2d. Abattoirs: s. d. s. d. Pelts - .. 1 0 to 1 2 Three-quartcrbrcds .. 1 5 to 2 4 Half breds .. 1 8 to 3 3 Lambs .. 1 8. to 2 6 SYDNEY MARKET (Received March 14, 8.30 p.m.) SYDNEY, March 14. Wheat, bagged and bulk, on country sidings, is quoted at 2s 54d, equal to about 3s Oid and 3s Hd respectively, ex trucks, Sydney. Flour— £lO 17s fid. Bran—£4. Pollard—£4 10s. Potatoes—Tasmanian, to £9 10s. Onions —Victorian, Brown, £8; Globes, £7 10s j • Maize—3s 6d. ADELAIDE • ! i (Received March 14, 8.30 p.m.) ADELAIDE, March 14. Wheat, growers' lots, new season's, 2s 10id; old, 2s 84d. Flour—Bakers' Jots, £ll. Bran—£s. ; Pollard—£s 2s fid. Oats—Algerian, Is lid. , ! Barley—2s Bd. ! | LONDON TALLOW MARKET The Bank of New Zealand has received the following advice from its London office under date March 13:— There have been no public sales this week. The market is firm. Nominal quotations—Good mutton, 28s to 28s 6d per cwl; good beef, 27s fid to 28s; good mixed, 27s to 27s 6d; gut, 24s to 26s 6d.