LANCEFIELD GOLD MINE

Dominion, Volume 31, Issue 21, 20 October 1937, Page 14

LANCEFIELD GOLD MINE

Lower Working Costs

At the annual meeting of Laneefield (W.A.) Gold Mine, N.L., in Melbourne last week the chairman (Sir Harold Luxton) said that the year’s results had been satisfactory. The slight drop in the head values had been more thau. counterbalanced by the lower working cost and the reduction of the loss of gold in the tailings. Working costs for the last few months were lower than those of _ any other mine in Western Australia using a similar treatment plant. . The payment of n further dividend (the fourth) since- the close of the year under review, Sir Harold Luxton proceeded, had made the total return to shareholders £12,500, or more than the whole of the issued capital. Telegraphic advice had been received from the managing director, Mr. G. Ridgway, that the No. 13 level drive had been extended to 142 ft., the width of the ore on the face was 7ft., aud the value was estimated at B.sdwt. Mr. T. H. Victor, a director, said that the fault of which so much had been heard did not appear to have affected the continuity of the lode. Development was a little behind, due to delay in putting down the incline tunnel, the benefit of which would be felt iu the future, when much more ore should, be developed. It was known from boring that the lode went down 840 ft. below the No. 12 level. There had not been sufficient boring to indicate its extent. The Lancefield lode was known to bulge out and narrow in again very suddenly, aud it »wns possible that the ore below the No. 12 level might be greater than the estimate of 400,000 tons made by the managing director.

BASE METALS MARKET Further Decline In Tin By Telegraph.—Press Assu, —Copyright. London, October 18. The official London (middle) quotations us reported by the Australian Mines and Metals Association, compare with those previously cabled as follows:— Oct. 15. Oct. 18.

Bradford Tops Market Steady

By Telegraph.—Press Assn.—Copyright London, October 18. In the Bradford tops market there in increased inquiry for tops, with prices unchanged. Crossbreds are quiet but steady.

Per ton. Per ton. Copper e h. d. C h. d. Standard. spot . .. 45 9 4* 45 8 9 Kitto, forward . .. 45 14 4 j 45 15 0 Electrolytic ... 50 10 0 50 10 0 Wire bars to 52 10 0 .. 52 10 0 52 10 0 52 10 0 Lend— S'por ,.o 18 <> 7» is :: u Forward ...... ... IS 3 14 1.8 1 H Spelter— Spot ..<•••••> 17 .14 4* 17 12 6 Forward »«•••« ... 17 19 44 17 18 14 Tintspot 4> 22 12 (> 219 17 0 Forward 221 17 C 219 2 <5 Sliver— Standard, per oz. Fine . 20(1. ... 219-llld. 20d. 21 9-16d. f American, 00.25 cents a Ib.