MINING.

Evening Star, Issue 16664, 21 February 1918, Page 8

MINING.

11 The secretary of the Nokomai Hydraulic y Sluicing Company reports -that a wash-up e was made at No. 2, the- result being 112oz a 18dwt for the paddock. No. 3 got bottom '" at 40ft, and the prospeots are fair. There 5 is plenty of water for both claims. : " The Kapitea dredge return for the past 1 week was 28oz. 6 The Success dredge washed up on Thurss day last for a return of 530z sdwt for 130 s . hours' working. l f RISE AND SHINE GOLD DREDGING * COMPANY. •" The annual statement of the Rise and . Shine Gold Dredging Company gives the '' present number of shareholders as 158—• one more than at the time of registration '" 18 years ago. Nineteen men are employed 1 by the company when dredging. The gold v won during last year totalled 2,6230z '• 16dwt, valued at £10,139 17s lOd, and the s expenditure amounted to £9,507 13s 2d, s including £1,089 7s liabilities from the ® previous year. The total quantity of gold won since registration has been 48,0350z 14dwt7gr, valued at £186,422 Os Id, while '. s the total expenditure since registration of the company has amounted to £143,063 J * 193. Dividends amounting to £53.100 have been paid to date, £1,200 (equal to 2s per share) being paid last year. At December 31 there was cash in the bank and on deposit, £947 16s 3d ; debts due to the company, £297 Is lOd. of which £43 5s 6d was considered soorl; debts owing by the company. £839 19s sd. A further statement shows that the company had j very little cash in hand at the end of j last year, but nevertheless it is in a very ,| ' snciid poiition. The No. 1 dr-wlge had an ■. indifferent ri'ii, and the freehold area on ! which the machine has recently been ope- | rating has given poor results. The assets j cf the company, however, have been mate- ! vi;;!!v incr-c?-cd by the purchase of son®] 5 ' 50 acres of the AthenEeum endowment, and ! this has now been sufficiently tested to 2 ! leave no d.sv.K tlr:t a lar:e area will prove ! hierhlv pavah'e. giving the eompanv a new 7 ; lease' of 'life. The 2 dredge is at 'i present o periling on the lower c.k! of this. v i Tile No. 1 is still woikine; the west 1 ounoary ■' of the freehold, and from indicntio:':; it is I, quite pnr.ril'.'.e payable ground will be struck .at any lime. As an alternative, the 8 : the dre:l'_'9 down to the Athenseum ground lon the fi:?'; favcrable river. On this area 1 I there is many years' work for the two ! machines.