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MINING.

GOLDEN BED COMPANY. The annual meeting of the Golden Bod Dredging Comnany was held yesterday afternoon. Mr W. Brown presiding over a fair attendance of shareholders. In th? course - of their report the directors stated: The directors desire to say that although the dredging operations have been fairly successful during the time the dredge has been at work, the amount to cmlit to profit md loss would undoubtedly have been larger had the dredge been able to commence work earlier. The extremely wet nature of the previous winter, whereby the paddock and creek on the flat were highly flooded, prevented the dredge reaching the bottom wash, and it was onlv earlv in January that the directors thought it prudent and gave instructions to commence dredging. The delay thus involved, together with a stoppage in February because of a flooded paddock, and again in August to put in a new section of screen and dn some necessary repairs, and for boiler inspection, etc., brings the time worked down to 33 weeks only for tlm whole rear, with an average of over 2Joz of gold won per week. In the ground purchased com- time ago the run of gold-bearing wash was found to he restn'otr-d to th° right-hand sid°. and the dredge master has confined his (vx«r:,ti-!ns to a nut of about four clinics wide on that side of the ground. IT is progress forward was therefor.: n’or n ranid. and what now. - Ims in front of the, dredge to our boundary is only a few chains. Your directors ere negotiating for permission to work part o T tlm freehold hevnnd. where the run of gold prohablv continues. If satisfactory terms can be arranged, tlm life of flm d.-’dee mid Haim tier tIIUS bextended for some time longer; bm failing that. tbe dredge must c-lr.-.-down on reaching our hom'd''rv, ami of course. Hrinii! n tion mu-t follow. T |in profit and loss wrenimt shows a crml't Ivd-Miop of -f‘»M IBs r ’d at the Hose of i-bf. vear. after providing lor all known liabilities. The returns since then have Rapii renirmev''tive. and it is to bo honed thev will cont’uuo so. If an v pl.pek occurs it would be prudent to pr.rt, the dredge forward much further. Tim dredge is reported hr your dredge ,^ r , s + rr kp ; n good ord»r. and everything is working smoorMv and well. The report was adopted. Afptsrq TV. Frown. G. G. \ . I con, -nd V. G. Duncan were reappointed to the direotei-rte. ami Mr James Brown was re-elected auditor.

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https://paperspast.natlib.govt.nz/newspapers/ESD19141031.2.68

Bibliographic details

MINING., Issue 15638, 31 October 1914

Word Count
424

MINING. Issue 15638, 31 October 1914

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