GOLD MINING

Grey River Argus, 13 August 1935, Page 2

GOLD MINING

Yesterday’s quotations were; Maori Gully Is 24d. Is 4d; New River (9d paid) sd, Js; Okarito ss. 5s lid; Skippers 2sd, 3?.d; Mount Lyell 20s 2d, 20s sd; Bundi Dredging —, 20s; White’s Electric —, Is; Worksop Is 7d. 2s 34d; Golden Sands 2s 4d. 2s 9d; Goldfield’s 24d, 3d; King Solomon 3s 6d, 3s lOd; Lawson’s Flat 4d, sd; Mahakipawa 3sd, 44d; Mahakipawa pref. 6d. lOd; Alexander (15s paid) —, 13s fid; Argo Gold Is 4d, Is 5Jd; Bendigo 3d, 7d; Big River 2s l . 2s 1(1; Brian Boru 3Jd, 4d; Charleston 2d, 4fd; Gillespie’s —. Is 3Ad. Okarito Dredge return last week was 29ozs. 13dwts. for 116 hours. Gillespie’s Beach Dredge last week obtained 35ozs. 9dwts. for 139 hours. A dividend of 5 per cent., was payable on September 11th. The first of Waipapa Beach is expected next Friday.

Information forwarded by he office of the Waihi Gold Mining Company tn the Auckland Stock Exchange is to the effect that from yest'erday fresh trans fers of the company’s shares xvill need to be registered in London. As a cnnwquence. dealings in this scripr' are i likely to materially restricted. BRIAN BORU G.D. COMPANY. The shareholders have been advised of the decision to raise £3,750 in £1 debentures at 7 per cent, payable in 1938 on the assets of the above Company. A debenture will be issued for every 144 shares held, but in the event of any shareholder not applying for his the debentures will be issued to shareholders applying for mure .han they are entitled to. The amount raised is to be expended as follows; IRepairing dredge ami putting it ju. an efficient condition £20(10; paying off outstanding liabilities £1040; working expenses £7lO. The circu’ar slates; Although the bores which were put down by Mr Warburton in Brian got payable results# when dredging German Gully did not disclose that' the ground wu« payable in the particular area bored, this did not shake the director’s confidence that the ground immediately in front of the dredge is payable, and the fact tha-t’ Mr Hepburn Boru Gully, above its junction with ground which had already been dredged and immediately in front of it justifies a further tria' of the ground, especially as the two shafts which were partly put down but’ owing to the influx of water could not be bottomed, showed gold in th ( > wash as far as water level, it being a fair inference that where the gold is showing in the upper strata it will improve lower down.

ALEXANDER MINES: Report for month ui* July: No. 3 Intermediate Level; A crosscut is being driven out east from ..his level and is now out 17 feet. Stone 6 inches wide, lying very flat is showing in the face. No. 4 Winze: In sinking this winze trouble was experienced on account of the amount of water making. A pump has been ins ailed and when thid is in good running ordei better progress should be made. The reef is wider than th e winze with only the eastern wall showing. No. 5 Crosscut: The contractors for the month have driven 125 feet, making the total 47.1 feet from surface. On the 27th instant water under considerable pressure, burst through the face and allowed the roof if collapse before anything could be done to secure it could be carried out. An attempt was made to pick the face up again but owing to ..he quantity of water making, it had to be abandoned. The crosscut has now been turned 15 feet back from the face and will be driven on the north side past the old face. Stoping has been carried out in No. 4. backs on reef varying from 1 to 4 feet m width. In the underhand scopes below No. 3 level, the stone is 2 feet wide.