MINING NEWS

Evening Post, Volume CXIX, Issue 104, 4 May 1935, Page 12

MINING NEWS

WAIHI ANNUAL; REPORT

. Accounts., o.f theWaihi Gold Mining Company, Limited, for the -year ended December 31, M 934; - ;disclose net profit £124,808;: compared with £107,030 earned in 1933. l;, The dividend for the year is again 2s a share lof ,55,,0r 40 per cent. In addition the/directors announce the payment of an I interim "dividend of 6d ' a share, for the current year, v :. According 'tb. advice received by, Mr. R. Gv Milligan, Auckland" director and attorney,..gross -profits-, for the - year were £206,630. Taxation .required £76,325 and depreciation • £5497, >"the/ ; balance, with £61,616 ■brought .forward, being £186,424. An interim;dividend .of-Isla share absorbed £49,591, leaving' a balance of £136,833. 'The directors recommend the payment /of a final 'dividend 6f. Is a share free of tax .payable oh' May .17. This will absorb £49,590, leaving £87,243 to be carried, forward. ..The dividend is paid: in English currency.: :! An: interim dividend of 6d a share/free'of: tax has been declared on account of the current year. and is also payable-on May • 17; > / . The directors state that the payment of the interim : dividend does;not necessarily indicate an" increase in the usual rate of. dividend. ..-- i" '". The annual: meeting ..wiir be;-held.:.-in London. on May 16. The directors advise that the proposals; with reference to ■ the future constitution •- of the ■ company will be" submitted to',shareholders not "later than the-autumn. .. : , GOLDEN CROWN. The manager .of. the 'Golden • Crown mine reports'/as followstrMJne"; ton of ore from the Btopes\ above the ■ Smithy, level : has been crushed'at'the Thames: School 6£ Mines,-valued at £43.18s lid;per ton. The details-'-of. the crushing are as follows:— Recovered'by amalgamation,- £26'3s lOd per ton;-assay.valuV of sands, ■ £21 Us Gd per ton; assay .valpe;of slimes, £13 6s' lOd per tori; concentrates, '3 per cent, before berdans,^£6B,oß lOdJper ton; concentrates afteryberdans, £1,7 14s Id,per ton; gold, valued at, :150s-per 'ounce; Bilver, valued "at 2s-6d'-per:ounce. Tailings and slimes will- be treated, at :;Komata. by -our own cyanide later. _' .;" . ' ; Latest returns. , '■■' (B/. Teleirraph—Press Association.) . ' : ;•-■-■ INVERCARGiLL', May 3. • The/-return for- eight: days' work' at King Solomon ■ Mine amounted- to 990z 13dwt. ...•'.- .-. /•: . ,- -■•- -^'-■;'.• •-';■ .- • GORE, May 3. The Waimumu:returnas.l9pz9dwt for 15 deysVworking.- .. • ' ' . -DUNEDIN, May! 3. ... The Goldfields Dredging Company, Ltd., reports -a wash-up,', of :220z 6dwt iov. 240 hours', work.. • .;,■ :.'; ; : .The Bendigo^ Goldlight. Dredging. Company,^Ltd., .reports that when one .or two minor; details ~are .^ completed , the dredge should be ready for a. trial run in a weel?s time. , .. ; . . •• ." , •' • ," * ; ,SALES OF^SHARES. . .Business in'miriiug' and dredging- shares as-reported this wsek was as follows:— •■ :Alexander (con.),, 15ft-5d., Bendigo Goldlight, ll%d, lid; Big River, 2s'-sd; 25,5%d,i2s 6d. ■ ■ ' ■ ~ -■-■-, Golden Sands, 2s sd; Golden Point, l%d; Gillespie's Beach, is's%d,'.ls 5%d; Golden Dawn,- 2s 6d; Goldfields r Dredging,. 5%d, 5%d,'5d. . ■ . '..' .■".--■., , ' King Solomon, 4s 3d,;4s 3%d, 4s'sd,"4s 7d,4s 6d, 4s 5d,,4s 5%d.; . ■-•■.-■ liajreonV Flat, sd. ■ '■•■ Mahakipawa,- Bd,:'B%'d;f Maori ;Gully,: Is .6d,lsMi:ls-,6i4d, Isr6%d,|ls 7%d, Is 7d, Is Bd, ls:6di Isr7.%d, ls.7d;-Maerewhenua, 3d; Mount. Morgan,. 375,j375r6d, 37s 7%' d, 37s'8d,'37s 9d', 37s "6d; 37s'5d; Mossy Creek, 2s 7%d, 2a 7d. . -: Nevis'Diesel,"l%d.' "' ~ '■ Okarito,,6s,.-6s 4d.< . . . . . . : Skippera,:- 2%d, • 3d, 2%d.' 2%d. ' Talisman Dubbo,. 10s. : - 'Waihi -Grand Junction,.4s-:5%d,- 4s-sd; Waitahu. 3s;"Worksbp' Extended, 2s lid, 2s 9d; Waihi.'43s 9d, 435. " ■ UnUstedt—AlluviarHoldingSy Is 9d; Argo Gold, Issd; Macetown.flOd; Upper--Watut (2s.,paid), ,5s- 4d; 5s 5d,:5s 2d; White's Electric - Dredge -paid),. sd.