MINING NEWS.

Grey River Argus, Volume XXX, Issue 4773, 7 January 1884, Page 2

MINING NEWS.

[from otjr correspondent] Reefton,' January 5.-* There are no returns to report thi week. , . . " ' ■ „ '. The Keep-it-Dark has only been run ning for three days ;and will .not toucl the plates till next Saturday. .':' i > '/. i The Globe battery has also been goirij for three days only, while all the othe: batteries have not started at allj . iTh< Globe mine continues to look promising and the present crushing is .'expected :ti get the company entirely out of, debt. .Th< next thing should be a first dividend.,,, i number of shares in this claim were a&ver tiseel for sale to-day for arrears, bu nearly all the owners turned up, and thi remainder are expected to do likewise." ■ A few transactions in Welcomes tool place yesterday. • [prom otago daily times] „ Reefton, January 1. ; The past eight days have been a blarij in mining matters, but work will begener ally resumed to-morrow morning. . ;:i The Keep-it-Dark cleaned up on Satur day last, with 4310z of amalgam from"l 7( tons. '■■, ■ ) ' The Globe Company had a genera cleaning up yesterday after a month) crushing, the total return being 27V0.z0: retorted gold. ■ v * A f ; The annual meeting of shareholders it the Keep-it-Dark Company took place or Saturday last, when the report- anc aalance-sheet were adopted unanimously, The retiring directory was re-elected^ wit! the exception of Mr Dykes j who retires in favour of Mr T. M'Laughlin. - : ■' : s January 2. Mining operations were generally !&■ sumed throughout the field this morning. The early commencement i of . , crushing operations by the Specimen Hill , and Inglewood Extended Companies, .followed at an early date by the Golden Treasure, and later on by the Inker man Company, is being looked forward to with, interest, very litttle doubt, if any at all, being entertained as to the payable nature of tht ventures.. ..... i The Oriental will resume operations either to-morrow or next day, jind hope is entertained that the crushing^of the nexi nonth or two will show an improvement^ The Golden Treasure are bushing ori ;heir winze, as also the low level north, md unless the survey proves to be' wide >f the mark the reef should be met with m the low level early in the ensuing nonth. The winze is being sunk on the •eef, winch is about 2ft. thick, carrying >ayable gold. Keep-it-Dark. — The directors' report, >resented at the annual meeting of sharelolders on Saturday last, shows- that luring the past year 9378 tons was crushed \ r hich yielded 55880z of gold valued 1 at 621,826 sterling, of which £11,500 was lisbursed in dividends, which is equal to Lls 6d per share. The average yield of ;he stone crushed was 12dwt per ton, rhich is greater . than last year showing ;hat the yield increases with the depth oi 'eef. The reef in No. 3 level looks well, md 50ft remains to be broken down be- : ore No. 3 is reached. The directors ihink there is enough stone in the block mentioned to keep the battery going at least another year. The new reef was intersected at a depth of 162 ft below No. 4 level, and has since been driven, on 28ft —viz., 14ft each way from the -'point' of intersection. The north face shows, a bhickness of sft, and the south Oft of good payable stone at each end, and quite up to the average of the higher levels ; but until the level has been driven from end to end the quantity of stone available cannot be given. The report says, however, that shareholders may look forward to' dividends for the next three or four years it least. During the year £1800 was sxpended on new machinery, and the )lant is now in splendid working, order? ["rifling repairs to the race required, 1 and iow in progress. The report was unaninously adopted. The Golden Point battery is still idle, )ut it is understood the company have in iontemplation sinking or driving toitest ;he reef at a deeper level, all; previous (See Fourth Page.)

workings in the mine having been very shallow. At an extraordinary, ineeting of shareholders in the Gbiden Fleece Extended Company, Mr Kilgour, the chairman, congratulated Mr Trennery, the mining manager, upon the efficiency of the workings' and plant, and also upon the economy exercised in the direction of operations. ; The directors' proposals for the re-f orma- ' tibn of the company were fully endorsed, the new company will be known as the Golden Fleece United Company. The new issue 'of shares has to be applied for before the Ist of February next. «The Welcome Company are to recommence crushing to-night, and opinion goes that the stone will be about equal to the last parcel crushed. Eureka Extended. — The incline tunnel is. now in ■•■Bsoft., being one-third of the distance to reach the surface-line of the Welcome ! reef. The workings are dry, and the average weekly rate of driving is about 20ft. The rock -boring machinery is working well too. The Rainy Creek Extended mine and batteiy are still idle, but it is expected that the successful result of the Inkerman, company's operations will lead to a resumption, of work in this mine. Lankey's Creek Company. — Immediately that the formal confirmation of the appointment of liquidators is made by the District Court, which sits on the 29th inst;,< the liquidator will proceed to strike the';iist of contributors, and initiate legal proceedings thereunder.