MINING NOTES.

Grey River Argus, Volume 57, Issue 10520, 23 August 1901, Page 4

MINING NOTES.

(o) The dredgemaster of the Ahauva • ] liver Company's dredge denies that he has any friction with the directors, and states that he has other reasons for resigning. ■ The Greenstone Junction Company s dredge is dredging on 27ft of wash. •It is officially stated that an improvement is setting in, and the machine will get a better return this week. The master of the Greenstone Three Mile Company's dredge estimates that the dredge turns over about one acre a month. The average depth of the wash is about 22ft. The work of erecting the machinery on the Totara Flat Company's dredge lias been commenced, and the Ist of October should see her at work. It is announced that at a depth of 99ft at Briglitwater, Nelson district, a seam of coal 6ft thick has been struck. The output of gold in Queensland for the half-year ended June 30 was 383,5760z a decrease of 119,6050z as compared with the corresponding period of last year. , The Rocklands dredge obtains coal from a mine close to the claim at a cost "' \of 8s per ton, and consumes three tons a-day. The Premier dredge, several miles higher up the river, also intends to be supplied from this mine. The El Dorado and the Old Diggings dredges ■\yill also benefit by their proximity to it. Mr J Ziman has arranged with the directors of the Waihi South Gold Mining Company for a. 12 months option for floating their -property on the London market. A deposit of LSOO has been paid by Mr Ziman. In the terms of the option the shareholders are to receive 35,000 fully paidup shares, in a company with at least L 50,000 working capital, that amount to be actually paid t in cash. . The shares issued in the present company amount to 132,000, and the shares in the new company, if floated, will be issued to shareholders at a rate of one for four now held.