GOLDMINING

Grey River Argus, 14 October 1936, Page 2

GOLDMINING

BUNDI TIN DREDGING COY. A circular to shareholders of the Bundi Tin Dredging Coy., N.L.. issued |,v the Board, al Sydney, on October 2nd. stated: -In I lie Directors’ Report at the Ordinary General Meeting, on Alarib IJtb lad. reference was mati-.i to the fact that the drC-dge was operating on an unbored Hat situated between the two bored areas and would reach Chinaman’s Terraco al u Jatei dale. Since that report. 2.059 ounces of gold have been recovered from 684.900 cubic- yards, in 3.103 hours but, due to heavy renewals to ,the dredge, these recoveries were not quite sufficient to cover working costs. Mr John Henderson, in his report of October i-'Sth. 1935, recommended that work be continued on the unbored area, and later on rise to Gh i Hainan’s Terrace through one of the gullies relerred to — TwoAlile Creek being one of them. Had the values of the lower Hat improved, it was intended Io reach the Terrace by Deep Creek, two miles fur (her on. but in the absence of such ini' provement the management stiggestcc rising through Two-Alile Creek (tin first gully now available) as early practicable. This was approved by th Board, subject to confirmation of its feasibility Ifrom an independent source and in this connection, the services of Air Henderson were again requisitioned. After full investigation with all the facts at hi- disposal on the site, he cabled on the 25th ultimo approving of the proposal and advising that it be proceeded with iinmed - alely. Mr 18. Du Four's check-boring of China man’s Terrace shows that it contains 1.679,01.111 cubic yards, values averaging 5.51 grains per cubic yard. The difference between these values and those being recovered (1.14 grains per cubic yard) is sufficiently great to justify the expectation that the recovery to be obtained from Chinaman’s Terrace will prove sufficiently high to warrant the payment of regular dividends. To place the Company in a position to dig this better ground, however, it will be necessary to raise the dredge to Chinaman’s Terrace, and it. is to meet the consequent expenditure in the building of a dam to lift the dredge to the Terrace and to meet local liabilities, that the present call of gs per share has been made.

RIMU DREDGE RETURN. liimu Dredge return: 237.85 ozs. crude gold 132 hours 19 minutes, from 60,138 yards. NEW RIVER DREDGE. A smash occurred in the .Diesel engine of the New River Dredge, and she will be laid up for some time. Quotations are as follows: —Maori Gully 6Jd. 8d; Alossy (’reek Is 3d, Is 4d; 'Mount Lyell £1 I.ls lid, £1 12s: Nemona- Is 3d. Is Sd; New River (id, 7hl; Okavito —. 4s; Skippers 3:]d, 4d; Waihi Sd, Od; Alexander —. 17s 9d; Alexander (15s paid) —. 16s; Argo Gold Is Sd, Is 94d; Barry town —, £1 Ills; Big River Is lOhl, Is ll)d; Blaek’water £1 Hs 6d. £1 13s; Gillespie’s Is 4sd. —.