MINING NEWS.

Evening Post, Volume LXXVIII, Issue 7, 8 July 1909, Page 3

MINING NEWS.

LATEST DEVELOPMENT AT WAIOTAHI. [by telegkaph — pitrss association.] , AUCKLAND, 7th July. Considerable excitement reigned on the Stock Exchange to-day in connection with the latest development in the Waiotahi mine. About midday a telegram from the mine manager was posted stating that he had secured 201b of picked stone from the drive east on the hanging wall rib of the main reef, at No. 4 level. The news had the immediate effect of sending up the share quotations. Sales, which took place at the first call at from 5s 6d to 5s 3d, were made at from 5s 3d to 8s 6d. At the last call a reaction set in. There was feverish buying, many parcels changing hands at from 8s 6d to 10s to 7s 7d to 8s to 7s 9d to 7s lOd, to 7s 7d. At closing time sellers were asking 7s 7d, and buyers were offering 7s 6d. The locality of the new find is away towards the Moanataiari ' boundary. It is at the same level as the phenomenal run of gold that was got some years ago, but is about 300 ft further east. An interesting fact is that Waiotahi shares on 28th May last were quoted 1 - by sellers at 2s 9d, and buyers were only offering 2s. 7d. Taking the selling price as the basis, yesterday's clo&ing quotations represent an increase on the capital value of £58,000. At the top price touched to-day (10s) the increase represented on capital value, compared with 28th May, would amount to £87,000. TALISMAN RETURNS FOR JUNE. AUCKLAND, 7th July. During the month of June the Talisman Consolidated crushed and treated i 4100 tons of ore for a j'ield of bullion valued at £17,682 12s lid. This shows a small decrease compared with the return for May, when 3865 tons yielded £17,846 8s 4d. The return for June last year was £18,884 from 4261 tons. The costs for the past month totalled £1 15s 8d per ton, made up as follow : — Mine development, 10s Id; mining, lls lid; milling, lls 8d ; general expenses, 2s. The costs for May amounted to £2 0s 6d per ton. The total amount won from tho mine to date is £1,043,210 9s TALISMAN CONSOLIDATED. Following telegram has been received from the Talisman Consolidated Company by the AVellington Stock Exchange :—: — "June return : Crushed 4100 tons. Value of bullion, £17,662 12s lid. Total i-ofets, 35s Bd, made up as follow :— De- ' velopment, 10s Id ; mining, lls lid • milling, Us 8d; general, 25." With many a merry jest he made himself at home at a "social" at the Hutt one night not so very long ago. Tattered and weary-looking, with an injured hand, he "was taken in and fed. Then a small subscription was raised on the spot for the- "deserving fellow.' Yesterday he made his bow to the Stipendiary Magistrate. His previous convictions numbered sixteen, of which twelve w'pvc for theft. He had served thirteen sentences, and is now put away for another. "Charity," considers one of tho subscribers, "(.overs a multitude of- sinst'i i