MINING NEWS.

Dominion, Volume 1, Issue 92, 11 January 1908, Page 7

MINING NEWS.

' . ' ' WAIHI SHARES INCREASED COLONIAL. HOLDINGS(BI -TKLEGBAPH—SPECIAL • COEEESrONDENT.) ; Auckland, January 10. Considerable- purchased -of 1 shares m the WaihiVGold .Mining • Company by colonial investorfehivo been . jrradeiiDfj rlatbiuand.':; areconvincing MndiTOtionsHhat there 'isWiviNew Zealand-la Vgrdat ,4eah a£riconfidettcai in; the Mne'.^T haVet sheeni' obtained i.ftom,, the...,local • .officeof. the-'.Company.-*!.: Since:;, Decembervlafrt' - to 0000. shares, .were from,.ithe,,.London.'.-to',- the-, colonial, register, whiljst'- 'during"., .tljei;;pasttwo, 'months' about' £150,w)0 o£j the,j Company, sVshai-csi have fouhd ; >:thcjK ■ yrsi y . 'the: Hands' of.' colonial 'This investment'' pi 'colonial capitdr i^ ;; tKe : piiJenit mine'-'of Waihi lias, as' a niStter' of"fact"; been'proceeding steadily 1 for the .last ■ two years, as • statistics show:; For instance, at January C last, there were on the colonial register . 1400 shareholders,, .owning an aggregate'of 122,357,'■ out of a-capital 0f'500,000 "sharos.j iThis numbej of, shares is almost four times/.more than: the number on. the colonial regis'tejr 'when .the, December dividend in 1905 was;,p'aid (32,280: held i by; 358 shareholders).. At the -'present market price '(£B' 7s.' Gd'.),*. therefore, the-;shares : held Vih:\the'" Dominion at : present have"- a capital value' ofi £1,02i,739j'as compared with-£270,345:-.two. years ago,-.,an increase of £754,391 175.-6 d. --On the;, payment of the December! dividend.-in 1906 there were- BGG.-;share-holders; ;onv the-; colonial register,., owning 72,295-sliaTCs of a valuo at ..the present > market price 'tif £605i470' 12s.' so .that the .-.'actual ' increase. during, the , last .year' works;, out' at 594 sHareliolclorß owning 1 50,062 shares-;' valne £419,268 ; -78.;'.6di,' - Of'this latter amount, oVer one-third, is" estiriiated -to have "been 'invested within /the. last two mouths. The'amount paid to'colonial shareholders out" "of; the last : divi,3si Gd.- per, sharo in December, ..1907. wa5<.£20,671 7s. Various .causes are assigned for-the large.influx; of shares to the local market from London, but "apparently there"is, now a'hotter feeling at Home. Latest cablo advice shows that the local price is now several shillings below, . the prico at which- the shares can be, imported , from Home. Although so many shares' ''amved;.'fro'm'.' London .about Christmas',' it "has been impossible for at least a month past'to' 'import Waihis from' London to sell .'at. a'profit here.. It may., be :as- : Bumed-.that the- influx of, shares in- such large quantities at all,,,oyenis? will now-cease, until there has been a considerable rise at - this end or.'a .-corresponding fall ,in "London".;,' The general 'tone of the London market, according to a recent cablo, is", much-improved. (BY TEMORAPB-f-HtESS ASSOCIATION ' '. January 10, During the. twenty'days ended December 31 lflst'-'the Waihi Gold Milling' Company. completed their final-clean up' for 1907. v From 25,967-tons of ore crushed.and treated in that period bullion valued at,- £64,085 was won.' This.,.* record,, for-,,any .similar pcHod, tlio return „ for the brolcoii Dionth of Dccciuber, 190G; ; being ••5646,120 from' 19,715, tons: ; The , total output from the mine for the : past vea'r corrected to July 13 was £860,299, representing an increase' 'of-' more, than' £22,000 over the total-, for tho'preceding year. It must be remembered, .however, that the returns for prac!tically.,.tho six'last months of 1907; have yet .' to be corrected, the bullion values' published invariably being considerably less" than!- the actual amount realised at home. It is very satisfactory, therefore, to find that, notwithstanding ',the-.;cqmpletcness. of /the corrections, an increase over the preceding year is nevertheless shown .by tho -available figures. This increase ..will- bo"tnuch greater when actual statistics:, can- be compiled.":, The'total amount won,,from -the mine to date, according to de-tails.-{io' far to .hand, is. : £G,271,927.:-of which £2,833,432 bas . been .'reimbursed to shareholders in the /shape of dividends,, ctc. ... , r -

consolidated.'' The..', Talisman. Consolidated, Ltd;;' report as follow for the three wcoks ending..January 16:- ..' No. 10 Levol. —Stoping. The averago assay for tho period from tho No.' '1 Bonanza Block stopes is JEI ■ lis. 7d. From the No. 2 Bonanza Block,; stopes tho. assays averago £i J2s; • No.- 11 Levol.—Soiitlr Drive, East Vein. Advanced 124 ft,,. total 857 ft., averago of assays 6s. At 780 ft. tlie ,reef becomes wider, than' tho drive, and has continued so .to present face. At 800 ft." 'n'.'short .crosscut westward' reached the hanging wall,'showing the" roof to bo Oft. wide .'.without disclosing any improvement in values;:',- Main Drive: Advanced 4ft„ total 458 ft.; width ; of reef ,Bft.', -average of assays Is. The cast .crosscut from;.this- drive has been extonded 25ft., total ,5-lft., conneotod. At 34ft. 3ft. of rjiiartz was cut, assaying lis. per ton. No. 12 Winze:-Advanced 17ft., total 38ft., reef wider than winze, averauo of assays J:2 ss. lid. "No. 12 Level.—Main Drive: Advanced 47ft., total '561 ft,, width reef 4ft., averago ofassays .£lO 18s. sd. No. 12 Rise: Advanced 10ft., total 55ft,, reef wider than rise, assays average.Xl3 10s. lid. No. 13 Jiise: Advanced 32ft.,. total ' 52ft.,' width of roof 3ft., average of assays .£2 lis. Gd. North Drive (East A'ein): Advanced-Bft.; total 220 ft. The drive has now passed through faulted country,.and will bo turned outward until the roof is cut. Stoping: The ass(t.vs , from No. 1 South Block slopes average' .£1 ' 17sV •*„ No.-13-Level.—-No. B'^Eise:' Advanced 22ft.,' total' -80ft., . width of reef 27iri';, ■ averago of assays 4s. sd. Stoping:' The assays from- stopes off No. 1 North liisc average £2 15s. 6d.