COMMERCIAL

Greymouth Evening Star, 8 November 1933, Page 8

COMMERCIAL

ALEXANDER MINES. The report for the month of October of Alexander Mines, states.—No. 3 Intermediate North Drive: Driving has been carried on continuously in this face with three shifts per day, the position of face now being 92 feet north of crosscut. The lode, both in width and quality, has continued to improve, there now being a width of Bft Gin showing in the face. This level gives every promise of developing a large body of payable ore. Values 107/-5 (standard values). Width 64 inches. No. 4 North Drive: This face has been driven to 41ft north of the crosscut on a strong body of ore varying in width from three to five feet. The face shows stone about five feet in width which has the appearance of widening further as driving proceeds. This level will probably develop a large body of ore. Average value for period 52/- (standard values). Width 39 inches. No. 4 South Drive: A crosscut was put out 15 feet along the fault line which displaced the southern end of this block. At this point stone 12in. wide was discovered and driven on south for Bft. The stone onlv lived up 3ft above the bottom of the level. Good gold has been seen in the stone. Value 63s (standard values), width 12 inches. Stoping has been carried on above No. 3 North Drive and also above No 3 Intermediate Drive. Above No. 3 the lode is small, varying in width from 10 inches to 2ft. In the leading stope above the Intermediate, a fine body of ore is showing averaging seven feet or over in width. Taking into consideration the improved .prospects of the mine and the hardness of the ore body in both stoping and development faces, it would be advisable to instal rock drilling machines in order to cope with the additional expense incurred in opening up and stoping out the ore. At present the ore is being hand drilled, this method being far from satisfactory and progress slow. A roasting furnace is to be erected at the mine to treat the production of concentrates augmented by those now stored away for treatment. The necessary firebricks, cement and materials are now being transported to the site preparatory to the erection of the furnace. WOOL’S FINE PROSPECTS. LONDON, November 7. The “Yorkshire Observer” says: A real scramble for wool appears to be developing. The absorption of two record clips at the conclusion of last season, with a negligible carry over, combined with the . present feverish demand, indicates wool-hunger, which should result in stabilisation of higher values.

The British Wool Federation privately conferred with representatives of the Australian wool growers on the subject of draft allowances. The Federation decided, further to investigate the matter. It also discussed private buying in Australia, and, though no action was taken, the opinion was expressed that private buying was detrimental to the best interests of the industry, and tended to undermine auction selling. BIG RIVER GOLD MINES Gold Returns, October: Battery Department:—32s tons ore crushed for 97 ozs. 10 dwts. melted gold estimated value £6OO (gold has been taken at 120/- per fine ounce). In addition to the above, 5 tons 12 cwt. 32 lbs. concentrates valued at £lBO were saved for this period. Cyanide Department: —No clean-up has taken place. Note —• Crushing now suspended owing to main shaft being under repair, rendering the hauling of ore from the mine impossible until repairs are completed. STOCKS AND SHARES. ■ AUCKLAND, November 8. Sales: Bell-Kilgour 1/3; Grand Junction 4/2; Mt. Lyell 23/-; Goldsbrough Mort. 29/9; Bank Mortgage 32/-; Woolworths N.Z. Pref. 34/9. DUNEDIN, November 8. Sales on ’Change: Bell-Kilgour 1/4 (two). Reported: Goldsborough Mort. 30/-. ■WELLINGTON, November 8. Sale: Bank of New Zealand D shares 32/-. CHRISTCHURCH, November 8. Sales: N.Z. Refrig. (10/-, paid) 9/10. New Zealand Breweries 37/6 (2), Electro Zinc (pref.) 34/6, Mt. Lyell 23/2 (2), Bell Hooper (9d paid) 1/- (3), Golden Dawn 1/8, Wilson’s Cement (cum. div.) 27/3.