MINING NEWS

Evening Post, Volume CCXV, Issue 13, 17 January 1938, Page 12

MINING NEWS

REPORTS AND RETURNS Mr. Thomas Thomson has boon appointed to take charge of the Big River gold mine in lieu of Mr. H. A. De Lautour, resigned. Mr. Thomson formerly had charge for a period o£ over two years between November 1933, and December, 1935. Mr. Thomson took over active charge last week. NEMONA DREDGE. The following is a brief resume of the Nemona dredge's operations during the past year:—For the period October 31 to December 31, 1936, the dredge was operating in the area below the original claim boundary. This section proved to be unprofitable. During the period January to February, 1937, the dredge had to work back through ground previously worked, to the original claim, and during this period returns were very poor. Towards the end of February last the dredge reached the original proved area, and from then regular and good returns have been obtained. Of the original tested area of 80 acres, 23 acres have been dredged to date, with satisfactory returns. Additional areas beyond the original special claim of 148 acres have been taken up, and it is intended to have these drilled as necessity arises. The dredge has been maintained in first-class condition. Some difficulty has been experienced in obtaining suitable labour to operate the dredge, owing to the scarcity of skilled dredge hands. The loyalty and co-operation of the staff and crew have been excellent. Gold won for the year amounted to 23150z sdwt, which realised £19,778 16s Bd, less gold export duty £1488 6s, and realisation expenses £348 11s 6d, which left net proceeds , of gold received £ 17,941 19s 2d. During the year, dividends, totalling 5d per share, representing £7500, were distributed to shareholders (free of income tax). The directors report that they "have every reason to believe that in future good returns can be expected to be maintained." The Nemona return for the period ending January 14 is lOloz from 17,300 yards in 1394 hours. NEW RIVER. New River Gold Dredging Co.'s official return of gold won during the week ended January 13 was 70oz of gold from 13,000 yards treated in 200 1 hours' dredging time. WHITE'S ELECTRIC. White's Electric Gold Dredging Co. (Barrytown) reports a return of gold won during the 8 days ended January 14 as 9oz of gold from 7700 yards treated in 128 hours' dredging time. MATAKI JUNCTION. (By Telegraph—Press Association). MURCHISON, January 15. The Mataki Junction return for the week ended January 13 was 440z of smelted gold for 94 hours worked and 14,000 yards dredged. DREDGING SHARES IN LONDON. (By Telegraph—Press Assn.—Copyright.) LONDON, January 14. Shares quotations include:—Clutha River Company, buyers Is 10£d, sellers 2s ljd; Molyneux River Company, buyers Is 6d, sellers Is 9d. PRODUCE IN LONDON. The Department of Agriculture has received the following cablegram from the High Commissioner for New Zealand, dated January 14, 1938:— Tallow. —Spot market steady at about 6d above last week's rates. Hemp.—Manila: Market quiet, but steady at slightly easier prices. "K" grade, January-March shipments sold down to £24. Sisal: Market quiet and unchanged. Little interest shown. New Zealand: Market still neglected on account of low price of sisal. Apples.—Market quiet; prices easier. Oregon Newtons, Bs, 10s 6d; Jonathans, 8s 6d, 9s 6d; Californian -Newtons, 8s 6d 9s; British Columbian Jonathans, 8s 6d 10s 6d; Delicious, 8s 6d 9s 6d. Pears.—Market weaker. Californian Doyenne du Conice, 15s, 17s; Winter Nelis, 11s 6d. 14s; Washington Winter Nelis, 7s 6d, 10s 3d. LONDON MEAT PRICES. The Bank of New South Wales is advised by its London office,, January 15 as follows: —Mutton, ewes, 3 l-8d to 4 3-8d per lb; wethers, 3Jd to 6d; lamb, 7Jd to 8 l-8d; beef, 3d to 4 l-8d; pork, 7£d to 7-^d.