GOLDMINING

Grey River Argus, 19 December 1936, Page 12

GOLDMINING

PRICE OF GOLD. LONDON, December 17. Gold was quoted at Ills old pet fine, ounce at London to-day. NEMJONA DREDGE RETURN. The Nenfona Dredge this week secured -.a return of 31 of.s. <’ hoiu 12,6116 yards of material in 13. i hours. MAORI GULLY DREDGE. The Maori Gully Dredge return this week was 78 -ozs. 11 dwts. of retorted gold for 126 hours’ dredging. L'.iis is Die highest roHnn so far recovered by the company. MATAKI JUNCTION. Shareholders at the annual meeting of Aliltaki Junction Gold' Dredging m Sydney, were told by Sir Hurry Aloxham (Chairman) that itl was probable that the company would pay a dividend next year. He said that the net profit, to July 2nd, of £4,969 was at the rate of 23.8 per cent! on capital. Subsequent to July 2nd, results had not- been so satisfactory. Ihis "was mainly due to the dredge being closed down from August. 7th to September 2nd. for altera(|ion s to tables, with a view to 'Obtaining faster dredging. Costs in future ought; not to exceed 3d a yard. Shortly after the dreage commenced work, one of the main niotois had to bo repaired, resulting in a delav of approxiinatcly two weeks. Dining this period and" up to the beginning of .November the dredge eoiirse was directed buck towards the initial starting point, and for sonic time dining October it was working through old ground. At the beginning of November better ground was entered, and fhc four weeks to November 20th showed a working surplus of £467, and rt was anticipated that the fotn weeks to December IStlh would show n material improvement’ on the previ ous pei-od. For the week ended November 27‘h, 79 ounces of go'd wns recovered, and for that: ended Decembei 4th, 76 ounces was (b'ained.

Quotations are: —Mossy Creek , Is 3.1 d; Mount Lyell —, £1 18s 3d; Nemona Is 7<l, —1 Okarito —-, As: Skippers 3Jd, 31d; Waihi 12s 4d, ; Wtorksop Is 7d, Is 9d; Alexander 17s 3d; Alexander (15s'paid) 15s 3d, 16s sd; Gillespie’s Is 3d, Is (id; King Solomon sd, Is; Maori Gully 3d, 6d, Mount Mogan 15s 7d, 15s Sd.