MAORI GULLY DREDGING.

Evening Post, Volume CXX, Issue 105, 30 October 1935, Page 14

MAORI GULLY DREDGING.

The following report was presented at a meeting of the directors of the above company, held on Saturday:— "A net profit for the half-year, after allowing for all operating and overhead expenses (exclusive of depreciation) of £2710 3s sd, was disclosed." The chairman explained that the. first return was obtainable on May 3 last, and that since then, with. the exception of a three weeks' period during which: the dredge ladder was undergoing repairs, there has been a return every week, the total returns for the period numbering nineteen and averaging 430z 2dwt 19gr of retorted gold. Operating and-overhead expenses for the six months, less interest earned, . transfer fees, and discounts received had averaged £124 15s 3d per week, including non-recurring expenditure of approximately £6 per week. The average net realisation had been £7 5s 4.45 d per ounce of retorted gold sold. Since September 30, four returns had been obtained, totalling 2370z 12dwt of retorted gold, and, allowing for all operating and overhead expenses, the profit on this return was about £1200.