GOLDMINING

Grey River Argus, 8 May 1936, Page 8

GOLDMINING

ADDISON’S FLAT. The Addisouks Flat return fur the three weeks ended April 28 was 34 ounces for 47 shifts. Seven shifts were lost through holidays. STAFFORD DREDGE. Stafford Gold Dredging N.L., a Melbourne company, operating in New Zealand, earned a net profit of £4071 for the year ended January 31. With £lBll brought forward, a sum of £51115 is available. A dividend of 6d a share paid May 31, required £3750, and £2165 is carried forward. The directors hope to declare a second dividend at. an early date. Running 80 per cent, of possible working time, the dredge treated 466,150 cubic yards, and recovered 2157.3 oz. gold, valued at. £A17,288, equal to 8.9 d. a cubic yard. Working expenditure was £A12,170, or 6.3 d. a cubic yard. During the year small jigs installed on the dredge improved the gold recovery, and further experiments are being carried out. At present the dredge is operating in more suitable ground, and better values have been recovered. For the five years ended April 10, the average was 101 d a yard. Working expenditure during the year was higher than expected, due chiefly to increased maintenance charges, and further purchases of parts will be necessary this year. Only portion of an adjoining area, about 2,000,000 cubic yards, valued at 7-1-d a cubic yard, proved suitable, and the directors decided, instead of forming a separate company, to add the area to the company’s holding. ALEXANDER MINES. Gold returns for Atai'cli and April: Battery department—s9o tons of ore crushed for 25Soz Sdw.j melted gold. Cyanide department —360 tons of sands treated for 58oz 2dwts bullion T 'tai eWima.ted value: £2290. In add ton, 84 tons of concentrates have been saved, valued a.I £l5O. Note, In estimating the abuse values, gold hits been taken at' 145 s per fine ounce WAITAHU COY. Messrs W. A*. Mi'tson and Co., sec retarics of the Waitiahu Gold Mining Co., Ltd., advise 'that a partial washup from No. 6 paddock 011 Monday May 4, resulted in. a return of 360 z for 24 shifts of 8 hour;; each. This makes >a total of 670 z lodwt from th' s paddock since April 3, when elevating operations commenced. BLACKWATER MINES. Blackwater Mines return for the month of April'; Crushed 3606 tons yielding 1704 lino ounces of gold, from all sources, the Value of wlk.ch, taking gold at 140 s (>d per fine ounce is £11.96.8. Working expenses were £6151, leaving a working profit of £5827. Development expenditure was £267, ami cxrp'ilal expendiWre £552. QUOTATIONS. Maori Gully lid. 11 Ad; Mossy Creel: —. 1 S 56; Moun t Lyell 24s sd. 24s (id; New River 616. 96; Okarito —. ss; Skippers 2J6, 3d; Worksop Is 716, Is Sid; White's Electric 616, 76; Barryto-wn —• 255; Moonlight' —, 86; Alexander (15s plaid) 13s 6d. 16s; Argo Gold Is sd, Is 516; Antonio’s 54d. —; Big"Mf'ver 2s, 2s, lid; Blackwater — , 355; Brian Born 216. 3d; Gillospie’s Beach Is lid. ---; (Goldfields 3d 4d; King Solomon —, 2s .!()<]; Lawson'.-, Flat —, 3 Ad.