MINING NEWS

Evening Post, Volume CXVIII, Issue 96, 20 October 1934, Page 12

MINING NEWS

RETURNS AND REPORTS

(By Telegraph—Press Association.) INVERCARGILL, October 19. The return at King Solomon Mine this week was! 61oz 16dwt. ' DUNEDIN, October 19. The Waitahu Gold Mining Company reports that 13oz 7dwt. of gold was recovered as the result of stripping operations. . . The Goldficlds Dredging Company reports a return for the fortnight ended October 19' of 20oz 16chvt for 175 hours' dredging. The Bell-Kilgour return for the past week was 10oz (klivt. The Paddy's Point Company reports that a paddock was completed today for a total return of 450z, the time taken being 7V& weeks. BLACKWATER. The quarterly report of Blacktvater Mine for the period ended September 30 states: —No. 11 north level was extended 230 Hit, all on reef, averaging 21in width and 9dwt-value. No. 12 level, north drive was advanced 200 ft, all on reef, averaging 20in in width and 13.4dwt in value. Rising during the period amounted to 126% it, of which 93% ft exposed reef averaging 27in in. width and 14.2dwt in value. Winzing totalled 123 ft, of which 85£t exposed reef averaging. 12.4dwt in value, ani 22% in; in width. Prohibition shaft,'' after being retimbered between ten and eleven levels, was sunk a further 76% ft, making the total depth 2121 ft from the surface. Output: 11,550 tons were crushed, yielding 5555 fine ounces of gold from all sources, the value of which amounted to £38,623. Working costs were £17,415, leaving a working profit of £21,208. Development expenditure amounted to £2223 and capital expenditure £2954. The value of gold is estimated from monthly market value. BROKEN HILL SOUTH. Had it not been for the depreciated position of the Australian pound as compared with sterling, the mine of Broken Hill South, Ltd., would have worked at a loss during the twelve months ended Jtmo 30. In earning a net_ profit of £220,21(1 die company had a satisfaclotv ye*.r. The return of £139,543 from tne■mining section was arrived at after providing £33,000 for depreciation of mine plant and £39,000 lor taxation and, New South Wales Government royalty. A decline of £15,224 compared with the previous year waa mainly due to the effect of the special adjustment of accounts with Broken Hill Aesoci ated Smelters Pty., Ltd., at June 30, 1933. A reduction in the quantity of crude ore treated also affected mining profits. These adverse factors, however, were largely set off by a further reduction in Port Pirie smelting charges, lower working costs, and improved metal recoveries, at the mine, an increase in the lead content of crude ore treated, and increased revenue from zinc concentrates. MOUNT LYELL. Production of the Mount Lyell .Mining and Railway Co., Ltd., for the quarter ended September 30, compares with that of June as follows: — .Tune. Sept. Tons. • Tons. Ore treated by mill ....... 49.821! 119,162 Concentrates produced .... 4,25 L 11,005 If. Mt. Lyell ore smelted .. s,ins ' 4,077 Concentrates smelted .... 10,673 10.01S Total ore, etc., smelted .. 15,820 14,093 Blister copper produced .. 2,562 , 2,252 Contents— Copper, tons „. 2,338 2,235 Silver, oz 31,620 21i,957 Gold, oz 1,484 1,190 Cathode copper produced .. 1,692 2,555 Furnace ran, days 64 58 In the .Time quarter the mill operated 36 days, and the refinery operated 48 days. SALES OF SHARES. Business in mining and dredging shares reported this week was as follows:— Bell-Hooper, 3d; Bell-Kilgour, 2%d; Big River, Is 6%d, Is 7%d, Is 7%d, Is 8d; Brian Boru, Is 3V2d, Is 3d; Bendigo Goldlight, ll%d, Is. Golconda Hbldings, Is Bd, Is S%d; Goleonda, 6d, and (lOd paid), Bd, B%d; Gillespie'a Beach, Is 8d; Goldfields Dredging, lOd; Golden Point, 2%d. ' Kildare, 2s; King Solomon, 3s 7d, 3s 8d; Komata Reefs, 6s 9d. Mataki, 2s Bd, 2s l%d; Maetawhenua, 4d; Mahakipa-wa, lOd, 10% d; Moonlight Nelson, 2%d; Mount Morgan, 38s. North Kalgoorli, 24s 10 ]i; Nevis Diesel, 4%d; Nokomai, 3s. Okarito, 8s 6d. , Rawang Tin, 8s 7d. Skippers, 7%d, 6%d, 7d, 6d. Talisman Dubbo, 11s. Upper Shotover (9d paid), Is. Waihi Grand Junction, 4s 3d, 4s 3Vkl, 4s 4d; Waihi, 35s 3d, 36s 3d, 3Cs, 35s 9d; Worksop Extended, 2s. Unlisted.—Alluvial Holdings, 2s 3d, 2s 6d; Arg-o Gold (Cd paid). 7cl; Ben Ledi, ll%d; Eldorado, 21s;-Maori Gully, Is 3d; N.Z. Mining Investment, Is, ll'/kl.