MINING.

Evening Star, Issue 14522, 25 November 1910, Page 6

MINING.

- The Kevstone borer is now putting down a series <">f holes in Paget's paddock, on Earnscleugh side of the Molyncux, for T>ane and party, who own the Golden Beach mining property. Work on tho Mount Higlay mine, near Hvde, is being vigorously carried on, and last week the first consignment of scheelite was forwarded to England for treatment. The ore is said to carry a high percentage, and is showing freely through the quartz. At the battery crushing is proceeding, and tho opening up of tho mine is being attended with much success. The Cardrona dredge is still engaged in working through ground that was formerly treated by hydraulic sluicing, the area" of this being much greater than at first anticipated. It is expected that the dredge will be up to solid ground by the end of this month, and as the worked portion is yielding payable retnrns the maiden ground should produce satisfactory results. The directors of the Undaunted G.M. Company at Matakanui report that the results of working the claim during the half-year ended 30th September, 1910, show" a credit balance of £426 7s 6d. From this the directors have declared a dividend of 5s per share, payable forthwith. Sluicing is still being carried on in the portion of the claim indicated in the annual report for 51st March. This area is likely to last for another twelve months, and it is giving favorable results. The supply of water has been better during the half-year than for some consiJerablo time previous. Some twenty holes were put down by the Keystone borer on the claim adjoining Fink and party on the Manuherikia. It is not definitely known whether the results were satisfactory, but it is said that the prospects were sufficient to warrant the erection of a dredge on the property. Tho claim is held by a party of Alexandra investors, who purchased the Old Man dredge some time ago for removal to the property. The suction gas plant on Fink and party's dredge is now running smoothly. Some necessary alterations were carried out, with the result that the trouble with the engine has been remedied. All the machinery is running well, and it is reported that the wash now being operated on is carrying rich prospects. Sluicing operations are being carried out on the Manorburn Sluicing Company's claim on Calloway ridges, and it is said the prospects are excellent. The erection of the winding plant at the Just-in-Time mine (Reefton) has now been completed, and steam was got up on Friday last to give it a trial run. Everything worked most smoothly and satisfactorily, and balinsr the mani shaft was to be commenced this week. The Australasian Institute of Mining Engineers will visit the Hauraki Coldfields at the end of January. Arrangements have been made whereby New Zealand members of tho Institute may have the same travelling concessions as the visitors. The Golden Gem dredge and claim at Millers Flat were offered for sale at Messrs Park, Reynolds, Ltd. Bidding started _at £3OO, and rose to £450, at which figure the property was passed in. 'The Roxburgh Jubilee dredge, recently acquired by the Waikaka Company, has been shifted on to the old Teviot claim for dismantling, according to an exchange. The. Sandy Point dredge started at five o'clock on Wednesday. The width of the cut was 100 yds, depth of the ground 30ft, and the distance worked ahead 10ft. The deepest of the ground was in the centre of the cut, and about a chain of it cannot be bottomed with tho paddock at the present level. Prospects are not so good, the face at present being drifty. THE SHARE MARKET. rcNEnrN exchange. There were no transactions at either sitting this morning. Only one sale was reported—Old Hauraki, 2s. The following are the morning quotations : —Dredging.— P.lack water (cont.)—Buv 8/, sel 10/. Golden Bed—Sel 19/. No Town Creek—Bny 7/. Pactolus—Buy 4/. —Sluicing.— Ross Coldfields—Buy 2/6, sel 2/11. Muddv Terrace —Sel ti/6. Island Block—Buy 6,1, sel 7/6. —Quartz. — Consolidated Coldfields—Buy 19/3, sd 20/9. Keep-it-Dark—Buv 10/. May Queen—Buy"3/4, sel 3/7. N.Z. Crown Mines—Buy 4/1, eel 4/6. New Svlvia—Bny 3/9, sel 4/. Old Hauraki—Bny 1/11, sel 2/1. Talisman Consolidated (ex div.) —Buv 51/6. Watchman—Buv 3/4. sel 3/7. Waihi—Buy 119/, sel 121/6. Waihi Reefs Consolidated—Sel ;i. Waihi Grand Junction—Buy 31/, sol 31/6. >»aiotahi—Buy 3/2, sel 3/6. —lnvestments. National Bank of New Zealand—Buy 116/9. Bank of New Zealand—Buy 205/. Union Bank of Australia, Ltd.—Buy £65, sei £66. National Insurance Co.—Buy 34/. Union Steam Ship Co.—Buy 36/3, sel 37/3. Westport Coal Co.—Buy 135/. Westport Stockton—Buy 7/3. N.Z. Drug Co., Ltd. (£2)— Sol 50/. Oamaru Woollen (ord.)—Buy 24/9. Whitcombe and Tombs—Buy 124/6. Christen urch Meat—Buy -"14 12s 6d. Ward :ind Co.-Buy 100/. Dominion Rubber—Sel la/ prem. WAIHI SHARES. LONDON, November 24. . (Received November 25, at 9.27 a-in.) Waihi : Buyers, 117s 6d; sellers, 120s. Junction : Buyers, 30s; sellers, 32s 6xl. THE GOLDEN SUN DREDGING COMPANY, LTD. The share list of this company will close on Monday, at 5 p.m.. Intending applicants for shares should apply immediately, as only a few shares Temain unapplied "for. The capital is small—viz., £2,000 in 2,000 shares of £1 each—and there are no vendors' or paid-up shares. The claim consists of over eighty acres in the Cromwell district, on tho Clutha River, above the Rm» and Shine and Rising Sun Companies' claims. A largo number of shares have been applied fox in tho Cromwell dkfcrict—nearly half the capital. Further particulars can be obtained from the brokers, Harman Reeves, Vogel street, Dunedin* or from James-Goodger, Crom-