MINING NEWS

Evening Post, Volume CXXII, Issue 132, 1 December 1936, Page 12

MINING NEWS

MOUNT LYELL YEAR

Thp Mou '■ veil Mining and Railwas actually the largest amount produced in any year from okj won du£ n 1935-36 totalled 665,422 tons, compared with 564,241 in the previous year. Production of silver dropped from 142 6420Z to 100,888oz. Gold production was approximately the same at 7°The Z' average price of copper rose from £33 8s 4d (sterling) to £40 14s 8d (sterling). The net cost of production a ton of copper fell lrom £43 090 (Australian currency) to £42/740 (Australian currency). During the year the low-grade deposits in the West Lyell and adjacent properties were developed, and worked by open cutting on a large scale; 00 •per cent, of the total output was thus won. and this less expensive method resulted in the production of copper at the lowest cost on record from ore of lower assay value than any previously treated. Ore reserves have been re-estimated and now stand at 8,820,000 tons of assay values of 1.9 per cent copper, .14oz of silver per ton, and | 016oz of gold per ton. These assay values are slightly lower, as the increase in ore reserves has been alt derived from low-grade deposits. Dividends for the year totalled 2s per share, absorbing £155,000. MATAKI JUNCTION. Production by Mataki Junction Dredging Company for four weeks ended November 19, with four weeks ended October 22 in parentheses, was as follows:—Hours 'dredged, 455 (485); cubic yards, 81,500 (90,000); gold, oz., 198 (126); value, £1485 (£957); working cost, £1017 (£1041). WORKSOP EXTENDED. Worksop Extended Gold Dredging Company, Limited, reports for the year ended September 30 that 20200z 3dwl 21gr of gold were produced, which realised a gross value of £16,491 16s Id. Government export duty absorbed £1239 2s Id, and realisation charges £205 16s 7d, leaving a net realisation of £15,046 7s sd, as compared with £14,871 17s 4d for the previous year. The average value realised per crude ounce was £7 8s Ud, as against £7 4s 4.6 d last year. The dredge plant has given very satisfactory service, good running time having been obtained right throughout the period. During the year four dividends of 10 per cent, each, absorbing £6400, were distributed. In addition £640 was provided for income tax and £1120 transferred to reserve account. Total dividends distributed to shareholders since the dredge commenced operations, which roughly covers a period of two years, aggregate 70 per cent, of the original capital (£16,000), representing £11,200, has been returned to shareholders. Recently the dredge has been handling poor ground, but richer ground is now being operated upon, and the last two returns especially are very satisfactory.

MATAKI RETURN

(By Telegraph—Pross Association.) AUCKLAND, November 30. The Mataki dredge return for the week ended November 29 was 30oz for 131 hours' work and 7600 cubic yards. DIVIDENDS DUE. llenry Jones Co-op.—final, Is lid per sliare Dec. 1 Swan Brewery—pref'., li per cent., final, ord., 2s and bonus (id .. Dee. 2 Claude Lißlrts (X.Z.) — final. 4 per cent., making S per cent, per annum Dec. 2 Xortli Krnkcn Hill—(iimrterly, 'is per share, equal to lus C(l fur the year Dec. S New Zealand Breweries —interim for I half-year, 4 per cent Dec. ol Now Zealand Loan and Mercantile— 5 per cent, cum pref., at 5 pur cent, per annum, for IS months ended December 31, 11K13 (less English income tax) Hoc. 30 Golden Sands—lnterim, in nor cenl. Dec. 10 Placer Development—interim, DO cenis (Canadian) Dec. 10 jBuloh) Gold—interim, 1 dol. <10 cents (Canadian) Dec. 10 Austral Malay Tin—fid (stcrlinK) Dec. 11 Broken Hill Sontli—2-s (id per share . Dec. 11 Bank of New Zealand—lnterim at rate of 10 per cent, per annum ordinary shares, and at 7V& per cent, per annum long-term mortgage shares Doc. 12 Kauri Timber —r> per cent Dec. 12 .Mount Lyell—final, Is (id per share or 10 per <'cnt. per annum .. Dec. 12 Woolworths (N.Z.), Ltd.—final, pref.. at 9 per cent, per annum; final, ord.. at 1214 per cent, and bonus of !i per cent Dec. 1." Guinea Gold—flVid Dec. Hi Goldsbrough, Mort—interim, iit i percent Dec. 10 P. and O deferred—l per cent, per annum (less English income lax) Dec. 17 Rouplbon Tin—pref., Is per share; ord.. 10M;d per sliare sterling . Dec. 17 Dovonport Ferry'—lnUilm, 2'/i per cent Dec. 17 nentong Tin—la sterling Dec. 18 Kanniunting Tin—l 2 per cent, (less British income tax) Dec. 22 Sulphide Corporation—prof., 2s per share; ord.. (Id per sharo sterling Dec. 22 Xortli Kalmtrll —Interim, ild per share (sterling, less English income tax) Dec. 2S Morris, Hedstrom—lnterim, 2M; per cent Dec. 31 Zinc Corporation—2nd half fixed cum. pref., 2s; interim 2s Gd on both ■ pref. and ord Jan. 1 Victoria Nyanza Sugar—,l per cent. Jan. 27 Prestige Handbags Pty., Ltd., has been registered in Sydney. Capital £5000. Objects: General manufacturers, importers, and dealers of and in wearing apparel, household, general, and fancy goods.