GOLDMINING

Grey River Argus, 13 October 1936, Page 7

GOLDMINING

Quotations are. G'llespic’s I < lid. Is 6(1; Goldfields ■ —, 3Jd; Mm>ii Gii' ! y 6d, 7Ad; Mossy Creek Is 3d. Is lid; Mount Lyoll 31s 2d. 31s 4d: Martha 19s, — ; Nemona Is 3d, Is Sd; New River 7d, 8-Jd; Skippers 2!ld, -id; White’s Electric 10d, lOJd; A’exander —. 17s 9d; Alexander (ios- paid) 15 , 15s 9d; Argo Gold Is 8(1. Is 94d; Barrvtown —. 29s 3d; Antonio’s 3-1. 6MI; Big River Is lid. Is Hid; B'aekwafer 325. 33s 3d: Brian Born 3; ( 'd. 4jd. After almost a week of no success Hie Molyn’ciux River Gold Dredging Company’s huge steel dredge was launched al the Clyde on Sunday evening. It was necessary to bring into action one cf the dredge's electrie motors-, which was coupled to the winch ropes stretched across Hie liver. The Noknmai Gold Mining Company reports that a avash-up of the last paddock,. which was slightly under one-eighth of an acre, or 18 542 cubic yards', resulted in a return of 47S "z.s (i dwts. This was obtained after, m'ne weeks’ work.

Antonio’s hydraulic cla'm., in Antonin’s Va’ley. near Reefton, next th 1 Worksop Dredging Coy’s, area, commenced sliiie’ng on September 1. Op ei-ations have been confined io the opening out. of a paddock in the creel bed. where the elevator :.s s'l nal ed A 1! this work has been in ground previously ha iid-jivorked by Ihe early diggers;, whose, timber work, tailinas etc., greatly hindered operations, heAden which floods prevented work for several days on end, Thsj suetion

pipes are now e’ear of the creek and floods; and the ground unworked by old, niiners should be, reaebcj] before the end of this month. The gold obtained so far is 5 oz* 6 dwts, but. Ihe yardage hnnil’eq was very small (about 2000 yards), e.wing to the difficulties mentioned above. The whole plant worked excellently, the water pressure being particularly good. Mr Gilbert Suther’and was appointed manager on October 1. Three shifts daily are being worked. Moving the adoption of the nnnn.-il report and balance sheet of the G I Jerque’s Bench Go.'d Dredging Company, Ltd., in Dunedin on Friday, the ehn'iniaiij. Mr X. K. Sligo, said that up to the close of tire, financial year go 1 J amounting to 1699.3 ozs—valued nt. £13.592 4s 7d—was won. Dredging anfl administrative expenses over the saint' period amounted to £9177 IPs Id, leaving a net profit of £3384 1.3 s 3-1. Dredging nud electric power cost:a mounted to £8242 17s 2d. averaging 2] ozo 13 dwts a week. These expenses covered a very costly overhaul anion riling to 'the large sum of £25(10. ami while the.si’i repairs were being car ried out » over five wks’ dredging time was lost;