BRIAN BORU.

Evening Post, Volume CXVIII, Issue 55, 3 September 1934, Page 12

BRIAN BORU.

• (By Telegraph—Press Association.) GREYMOUTH, September 2. The Brian Boru dredge.last week ob. taihed a return of 22 ounces 7 pennyweights for 123 hours working.

' In accordance. with a requisition from a number 01 shareholders of the Brian Born Gold Dredging Co., Ltd., an extraordinary general meeting of the company will be held, on September 10, at Greyrnouth, to consider the following proposals:—(l) To pass a resolution or resolutions pursuant to clause 79 of the articles of association removing all or such one or more of the directors now in office as the meeting may deem expedient. (2) To select seven shareholders in the company to act as a protective committee and to pass a resolution appointing such persons to be a committee and vesting in them such powers as may seem to the meeting expedient in the interests ■ of' the company. (3) To appoint such, person or persons as the meeting may think iit. to be directors of the company. The directors state that the extraordinary general meeting of the company referred to is being called at the request of twenty shareholders holding in the aggregate 65,300 shares out of a total of 321 shareholders holding 540,000 shares. "As the requisitionists have given no indication of the reasons actuating them in proposing that directors be removed from office, ire are naturally placed in a position of not being able to combat the proposals. .. ." The directors ask shareholders to suspend judgment until the whole of the facts are known. They desire to assure shareholders that they are doing their very best in the interests of the company, and although the returns from the company's dredging operations are at present little more than sufficient to cover working expenses, the financial positiou of the company is thoroughly sound and when the returns increase, as they must do when the worked, area at present being dredged has been gone through, dividends will again be available for distribution. Accounts are paid each month, there are no charges on the company's . property, and there is always a substantial sum in the company's current account at the bank. The dredge and plant are now thoroughly efficient and in first-lass order, and when the virgin ground is reached there is every reason for believing that substantial profits will be earned, ensuring payment of regular dividends to shareholders. WORK AT WAIHI. The following information has been cabled to the London office of the Waihi Gold Mining Co., Ltd.: —No. 4 level: Martha lode, north branch —We are now preparing to stope. No. 5 level: Martha lode, west—The crosscut at 800 ft is now out 85ft north-weat. No. 6 level—Martha lode', north branch. We are now rising at 151 ft west and the first 15ft is ore of good grade.', The width of the vein is about'lßin. ■ No. 7 level: Martha lode, north branch—We have intersected a leader at '240 ft west, 4in wide,, and assaying 42s Od a ton. The course is 291 degrees and vertical. We have now commenced; driving, west-north-west on its course. No. 12 level: Edward lode—We have commenced driving south at approximately ,340 ft south of No. 2 shaft. The first 10ft assays 185.3d ton. Grand Junction No. 6 intermediate level: Royal lode—Driving east, the next Oft assays 41h a ton, making a total of 53ft. The reef is disturbed at this point, and the next 13ft,- bringing the total to 66ft, assays 19s 3d a ton, the .width of the lode being about 4ft. SKIPPERS, LTD. Kcportirig on the work curried out at the claims of Skippers, Ltd., during the past month the company's consulting engineer states that weather conditions were very unfavourable during Una period, there were two heavy falls of snow. During the latter half of the month heavy floods delayed work both in the paddock and on the completing of the fluming. The latter, however, withstood s the heaviest of floods without suffering any damage. Before the floods caused a cessation of work in the first paddock, two-thirds of tlr area had been bottomed without any disclosure of importance.! A deep crevice, filled with big slabs, of schist, was encountered hear the head of the paddock. Up to the times the floods occurred the wash had not proved to bo auriferous in thiß crevice, when it "~was still being worked in a downstream direction. By the middle of the month there remained only a distance of 30ft of flunving to be laid; this work has slowed up owing to the intense cold and continued flooding, no work at all being possible for twelve days. The Diesel electric pumping plant was working when required during this period, and enabled operations to be carried on when the waterraces were frozen over. The downstream end of the paddock would be cleaned up, while the connecting of the piling with the fluming was being carried out. As soon as this had been done, the pipes could be laid on.to the site of Mr. Smith's first paddock, where he had to abandon a good i-im'of gold owing to the seepage from the river being too1 heavy for his elevator to cope with.. It is anticipated that good gold returns will result.from working this portion of the ten-acre beach. There still remained, a good chance of a run of gold .being encountered at the downstreanvend of the first paddock, as a portion of it had been protected from.the scouring action of the waters coming out of the gorge by a projecting spur of rock. This area would be workable as soon as the short length.of piling being driven between the existing piling and the flmmng was completed. '