MINING.

Grey River Argus, Volume 21, Issue 3058, 4 June 1878, Page 2

MINING.

reefton. We take the following items from the lnangahua Herald of Saturday . —

The improvement in tho Victoria mine has led to a moderate demand for scrip, but transactions are limited, owing to holder;^ requiring a higher figure than buyears aife^disposed to give. Quotations range from Is lOd to 2s. The quantity of stone exposed will enable the company to have a consider* able crushing, and the quality of the stone can leave no doubt as to ifcs payableness. The Nil Desperandum Company during the past month have employed five heads of stampers, and the cleaning-up gave a result of 81oz Sdwt of melted gold. It has been decided to invite tenders for breaking down quartz in the present level. The directors of the Hopeful Company visited the mine on Wednesday, and resolved to immediately commence sinking from the centre of the northern block in No. 5 level. The stone coming to grass is looking very well, and regular dividends will be declared for many months.

After the current week ten stampers only will be employed at the Keep-it-Dark, The trial crushing (800 tons) ofthe Venus concluded on Friday ; the return is nofc so good as it was expected to be, yet, allowing for extraordinary and exceptional expenses due to opening the mine ready for crushing,it will be sufficient to meet the cost of obtaining it, aad therefore the crushing maybe regarded as a successful one^ and share* holders may. wait satisfied with reasonable prospects of receiving dividends from future crushings.

The Golden Fleece Extended started crushing 150 tons on Monday. Since the reef was struck in the Victoria in fche middle tunnel it -has been driven on 70ft or 80ffc without a break. The average thickness of the reef from the top to the bottom of the face to-day is 2't, and the stone appears to be as rich as any formerly taken from the mine.