MINING NEWS
RETURNS AND REPORTS
The Blackwater Mines return for September was as follows:—
Tons of. ore crushed 3872, yielding 1616 fine ounces of gold; value, at £7 an ounce, £11,314; working expenses, £6130; leaving a working profit of £5184. Development expenditure was £641, and capital £1330. Comparisons with August are:— ■August. Sept. Tons crushed .... 3,900 ' 3,872 Return ......... £12,085 £11,314 Working profit .- . £6,083 £5,184 AEGO GOLD. Argo Gold Dredging Company's official report is as follows:—Return of 38oz for 6000 yds dredged. The yardage dug has been considerably reduced, due to a hard layer of wash dirt lying above. the bottom, having been encountered.' Dredging has been suspended.to enable the dredge to be equipped to work on a head line system which' is expected to be an improvement on the "spud 11 method, and thus enable a larger yardage to be dug. The necessary alterations will not be costly, and are expected to be completed in about a week. The dredge is working satisfactorily in all other respects. The dredge construction contractor Has not yet completed digging the yardage stipulated in the contract, viz, 50,000, before the drfedge is taken over by the company. GOLDEN GULLY. Golden Gully Sluicing and Development Co., Ltd., reports:—The directors announce that consequent on a visit to Australia by Mr. A. R. Perry; a working option has been granted at a satisfactory figure to an Australian company. This option is subject to the confirmation of a meeting of shareholders, which will be held early next month. WAIHI REPORT. There was a strong rise in the market f^^r^rth^ shares on the Auckland Stock Exchange yesterday. Rumours of favourable developments in the mine have caused holders to firm, and supplies are strongly held. It' w^s yarned from the company that work in No.. 3 and No. 7 levels showed promising results, but further investigation was needed. Offers for Marthas rose by Is to 20s 6d, and sellersquoted Is higher at 21s 6d. For Waihi ments, which were available unchanged at 14s, offers moved up Is 9d to 12s 3d. No sales were made. These levels together with a 3s payment give the old Waihi shares an assured lone l3St business was
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https://paperspast.natlib.govt.nz/newspapers/EP19351009.2.142.23
Bibliographic details
Evening Post, Volume CXX, Issue 87, 9 October 1935, Page 14
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363MINING NEWS Evening Post, Volume CXX, Issue 87, 9 October 1935, Page 14
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