GOLDMINING INDUSTRY

Evening Post, Volume CVI, Issue 141, 12 December 1923, Page 5

GOLDMINING INDUSTRY

PROMISING OUTLOOK FOR WAIHI.

(BX TELEGRAPH.—SPECIAL TO THE POST.) X AUCKLAND, This Day.

Reference was made yesterday at the annual meeting of the Auckland Stock Exchange by the chairman {Mr. G. C. Creagh) to the goldmihing industry. Hg said it was-to be regretted that in spite of increased activity there had not been any new finds of any consequence during the year. Developments in the Waihi wine had, however, reached a very interesting stage, as the result of the lateral exploration recommended by Mr. Morgan, Government Geologist. Mr. Creagh said altogether the outlook for the old mine was at present more promising than had been the case for some years past. The Grand Junction had unfortunately been delayed with its development, but it was hoped that the operting up of No. 11 level would be productive of satisfactory results. Developments were still proceeding at Moanataiari mine, Thames, and there was a .good deal to encourage the pfomptprs in the hope that this genuine mining venture would meet with the reward it deserved. The chairman also referred to the increased activity in gold dredging in the South. With regard to new ventures, Mr. Creagh said it had been suggested to him that no'mining promotions should be permitted apart from Government sanction. < That it was thought would ■save the public being taken advantage of by unscrupulous company promoters.