REPORTS AND RETURNS

Evening Post, Volume CXIX, Issue 134, 8 June 1935, Page 12

REPORTS AND RETURNS

Worksop Extended dredge is ' reported as at present working under temporary difficulties, dredging room being hampered on the return cut from the gully where the dredge was working recently. The difficulties may prevail for another three or four weeks, after which the dredge should reach open and ample dredging ground. GOLDEN SANDS. The Secretary of Golden Sands, Ltd., reports that word has been received from the mine manager that the shitting of the plant has been completed, and sluicing recommenced June 6 on the back lead. MAORI GULLY. The secretary reports that Maori Gully dredge did not get in full time last week, working for 70 hours, the return being 350z 15dwt of retorted gold.. The company took the dredge over from the contractor and commenced dredging operations at midnight on Sunday, May 26. Early on Wednesday morning the set screw in the screen-drive became displaced, and the dredge was stopped at 3 a.m. to enable the shaft and set screw to be taken to Greymouth for adjustment. The readjusment was made and dredging was resumed at 4.30 p.m. the same day. The clean-up took place on Friday morning. This week the conditions should be normal. The previous week's return for 68 hours was given as 30oz, but on the gold being weighed at the bank was found to be 31oz 4dwt 16gr. WAIHI GRAND JUNCTION. A substantial fall in profits of the Waihi Grand Junction Gold Company, Ltd., is shown for the year ended December 31, 1934. Net earnings were £6839, a reduction of £6932 on the previous year. According to cabled advice received from London by the Auckland attorney, Mr. R. G. Milligan, the directors are recommending payment of a dividend (unchanged) at 4d a share, free of income tax, equal to 16 2-3 per cent. The dividend will absorb £6906, which is £67 more than the year's profit. This reduces the carry forward to £3694, against £3761 brought into the accounts. The annual meeting of the company will be held in London on June 14, and the dividend is payable on June 28. GOLDEN DAWN. Golden Dawn, Owharoa, reports:— For the 12 working days ended May 27, a total of 312 tons of ore was treated for a.return of £1074, realisation estimated at £7 2s a gold ounce. The results of recent development work at the mine were reviewed by Mr. J. Farrell, chairman of directors of Golden Dawn Gold Mines, Limited, at the annual meeting of shareholders. Mr. Farrell referred to a recent discovery in the lower intermediate level between Nos. 2 and 3 levels, where the lode was 2ft wide, and recent assays, over a length of Bft with a height of 12ft,-were £23, £14, £39, and £17 a ton (gold valued at £4 an ounce), with gold showing in parts and rich ore still in the face. He said that the extent of the run could not be estimated at present. Referring to the option granted over the company's property, Mr. Farrell said that no definite information had been received whether the right of purchase was being exercised. The right expired this month, but it could be extended for a total of six months on payment of £500 a month.