MINING SHARES

Evening Star, Issue 23743, 26 November 1940, Page 10

MINING SHARES

RISE IN BIG RIVERS FEW OTHER DEVELOPMENTS The event of this morning’s call-over on the Dunedin Stock Exchange was undoubtedly tlie sudden rise in Big River mining shares, for which tlie bid was practically doubled, with holders apparently not as yet disposed 1o make any offer. The rise followed the lafest report from the mine, which announced payable seams on two levels, but the extent of the seams is not yet apparently known. The shilling shares, which have been asked for at 6d and 7d, rose under brisk bidding to par. There were few other developments in the share market. A long range of Government loans was in demand at late rates, the bid for War Loan showing a slight advance. Woollen companies were also in demand, the bid for Bruce issues keeping up well despite the fact that they are Aow ex dividend. After tlie long week-end no sales were reported and no business done on tlie ’Change. MINING NEWS BIG RIVER REPORT. The following is a special report from Big River Gold Mines Ltd. for the week ended November 21: —Stone two foct wide has been intersected in No. 1 level. No. 4 level has been advanced seven feet without anj'thing of value being met with. Slone under No. 5 level is being lillcd. No. 7 level lias ‘been advanced 12 feet, and shows reef five feet wide carrying good visible gold. Two men are repairing No. 2 level. As a result of steady and continuous development and prospecting work, two good gold-bearing reefs have just been struck in No. 1 and No. 7 levels respectively. Both reefs are in new country, are carrying good payable values, and should favourably improve the gold production and progress of this company Tlie lengths of those ore bodies have yet to be proved, and both are now being followed vigorously in their respective drives. CLUTHA RIVER GOLD. For the week ended November 22 the dredge of Clutha River Gold Dredging Ltd., operating at Alexandra, worked 119 hours and recovered 670 z of gold. GILLESPIE’S BEACH. For the week ended November 23 the Gillespie’s Beach return was 21oz for 132 hours’ dredging, in which 16,000 cubic yards of material were handled. CLUTHA AND MOLYNEUX SHARES Press Association —By Telegraph—Copyright LONDON, November 25. (Received November 26, at 9 a.m.) Clutha: Buyers 9d, sellers Is. Molyneux; Buyers 3d, sellers s£d. AUSTRALIAN STOCK EXCHANGES Press Association—By Telegraph—Copyright SYDNEY, November 25. Trading on the Stock Exchange was restricted to-day, but prices remained firm. Sales: Bank of New South Wales, £29; Toohey’s, £1 8s 9d; Australian Gas, £5 10s; South British Insurance, £2 3s; Associated News, 14s Id; Consolidated Industries, £1 16s 9d: Felt and Textiles, £1 18s Id; Felt and Textiles (cont.), £1 6s; Lustre. £1 Is Cd ; Goldsbrough, £1 4s 9d; Wunderlich, £1 Is 6d ; Taranaki, 5s lid. MELBOURNE, November 25. Sales: Bank of Australia, 14s 7d; Coles, £3 9s 6d ; Cox Bros., 7s 2d: Drug Houses, £1 8s 6d; Loloma, £1 5s lOd ; Broken Hill Proprietary, £2 4s 9d ; Mount Morgan, 10s 9d.