MINING.

Evening Star, Issue 14962, 23 August 1912, Page 6

MINING.

At the Old Hauraki Mine, Coromandel, the manager reports that the south face, 40ft level, has been advanced 10ft, making a total from the crces-cutof 24ft. The reef is small and disturbed. ihe north face has be«en advanced 4ft, making a total of 31ft. The reef maintains its size and favorable appearance. The 3Ooft level has been advanced sft, or a total of 446 ft. Two stopes are in progress at No. 4 block, the reef being up to Sin in width. Colors of gold have been seen. At the 220 ft level the face of the drive has reached the point where the rise will connect. The country is most favorable for gold. The manager of the Saxon Mine, Thames, reports that the shaft is nowdown a distance of 73ft, leaving another 23ft to go to reach the required distance for opening out No. 7 level. The leader in the shaft mentioned in the previous report has shown a decided improvement, •nd although encased in very hard country it is now carrying minerals of the most favorable nature. "At No. 6 level a distance of 10ft has been driven west from the bottom of the winze. The reef is now '.more compact, and looks well. The country is firmer and of a bettor description, and gold should be got at any breaking down. A London message states that Waihi shares are quoted at 31s 3d to 33s 9d. The directors of* the Monowai Gold Mining Company, Thames, in their halfyearly report, state that the reduction works are now kept regularly running, the mine being sufficiently developed to supply enough ore. When the ore bodies are further opened up, however, the question o fenlarging the present mill will be a matter for consideration, for to make the undertaking an assured success the company must be in a position to treat a larger quantity of ore than the present reduction works can handle. From the inception of the company up to now the mill has handled 5.277 'tons of ore, from which bullion has been won representing £2,870 17s 5d sold and £382 1&? 6d on hand unsold, and concentrates saved of which £5.646 18s lOd have been sold and £2,593 9s 8d in transit and unsold. making a total of £11.494 4s sd. The port concludes :—"These results are very satisfactory, and referring to the profit and loss account you will note that the debit balance, which on October 31 last was £3,586 0s Bd, is_on April 30 last reduced to £1.621 ?6 7d, so we may look forward to this account beinsr in credit at an early date and the operations of the company proving a profitable undertaking.

The manager of the New Sylvia Mine, Thames, states that at No. 3 level the drive on the reef is now 196 ft south of the sonth. rise. The reef maintains its size, and has averaged over 6ft so far.' In the present face, where the hitches for caps were cut, it is fully Bft wide, with no footwall showing. The last assays at 192 ft were £2 ids 6d for a width of" s^ft, with no footwall showing. The rise from the intermediate level on the cress reef is up 25ft. The reef is 2|ft wide, and heavily mineralised. A stope north was started from the south rise on the Sylvia reef, which is 2ft wide. In No. 4 stope, coming south from No. 1 riee, at the battery level, the reef is 3ft wide, and looks well. In the same stope, coming north from the south rise, the reef is sj-ft wide, with good miueTak showing. ""In the siopes between Nos. 1 and 2 rises the reef is 2ft wide. At the low level the drive has been advanced 20ft. with the same amount of water flowing. Some nice colors of gold have been s-een in the reef at No. 3 level. THE SHARE MARKET. DUSF.DIN EXCHANGE. Sale on 'Change: Westport Coal, 28s. Quotations: —Dredging.— Electric—Sel 6/. Hartlev and Rilev—Sol 10/. Masterton—Sel 8/6. Mttnuherikia—Buy 4/6, sel 7/. Rise and Shine—Buv 21 6. Rising Sun—Buy 27/", sol 30/6. —Sluicing.— Roxburgh Amalgamated (paid)—Sel 3/6. Ross Goldfields—S--1 6/. Nokomai Haydraulic —Buy 19/, gel 20/. —Qunrtz. — Consolidated Gnl-.lfHd/— Sol 14/. Kurunui-Cde'V 'v l —'St I 1 7. Mav Que^n —Buv Bd. N.Z. Crown Minos—Sel 2 8. New Svlvia—Buv 1/1, sel 1,4. Old Hn'uraki—«el 1/8. Tnlfcimn Ccns-didat-rd—R-;v 40/, s-141,6. Wtihi—R'-y r 4/6. eel ~s>. Waihi Grand Junction —B::y 21/3. sel 21/10. r , " , ve?tmf ntf . National Bank of New Zealirtd—Buy U9:f>. Kink of N>w Zfaland—Buy £lO 15/. N.tior.al Insurance Co.— Bv-y 39/. Stand'.rJ Inv.:r trice Co.—Buv 32 3, sel Union Steam Ship Co.—But 45/, 6el 48/. V;estnort Coil Co.—Bnv 27/10, sel 23 3. D.I.C. (pref.)—Buy 22/9. N.Z. Drug Co., Ltd. f£2)—Buv 51/, sel 51/9. N.Z. Paper Mills—Sel 22/. •Otago Daily Times'—Buv 51/6. Wright, Stephenson—Buy 110/6."