MINING NEWS
BULOLO COLD NEW ISSUE
Bulolo Gold Dredging, Ltd., will ofTer to shareholders a new issue of 60,000 shares of 5 dollars each at 20 dollars (Canadian), in the proportion of one new share for every 16 shares held. The purchase price will be payable in two instalments of 10 dollars (25- dollars capital and 7A dollars premium) on application and allotment respectively. Present issued capital is 940,000 shares. At the last annual meeting it was announced that the cost of constructing and installing two new dredges would-be met by the issue and sale of about 60,000 shares in small blocks at around market price. In view of . numerous requests from shareholders, the directors have decided to offer the shares to shareholders for subscription. BROKEN HILL PRODUCTION. Broken Hill Proprietary, Co., Ltd., reports for the four weeks ended April 12:—The extraction of ore at the Broken Hill mine since resumption of mining was 3913 tons, including 286 tons for direct smelting. The output is gradually increasing. Mill production amounted to 549 tons lead concentrates, assaying 71.2 per cent, lead, 51.7 oz silver, and 651 tons zinc concentrates, assaying 52.8 per cent. zinc. ADDISON'S FLAT RETURN. Addison's Flat return for the three weeks ended April 28 was 340z for 47 shifts. Seven shifts were lost through holidays. BARRYTOWN GOLD DREDGING. Owing to delayed completion of plans and difficulty in obtaining satisfactory tenders for supply and delivery of various sections, states the first annual report of Barrytown Gold Dredging. Ltd.. Sydney, which is to operate at Greymquth, New Zealand, progress of the equipment has been delayed considerably. The directors anticipate that production will begin before the end of the year. Construction of the dr.edge was begun on March 20. A pilot treatment plant has been constructed in order that the recovery practice will be well established, and much, of the usual adjustment delays in the initial stages avoided. Expenditure on the dredge to December 31 was £11,549, .and liquid resources, including cash £15,700. were £22 722 with, which were credits £1943 and loan account £17,474.
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https://paperspast.natlib.govt.nz/newspapers/EP19360506.2.141.3
Bibliographic details
Evening Post, Volume CXXI, Issue 106, 6 May 1936, Page 14
Word Count
344MINING NEWS Evening Post, Volume CXXI, Issue 106, 6 May 1936, Page 14
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