GOLD MINING

Grey River Argus, 9 February 1938, Page 6

GOLD MINING

PRICE OF GOLD. The price of gold in London is £6 19s 6d per ounce. - BLACKWATER. The Blackwater Mines return for January is: Crushed 3078 tons, yielding 1258 fine ounces of gold, of a value, at £6 19s an ounce, of £8744. Working expenses were £5BBl, leaving a working profit of £2,863. Development took £448 and capital expenditure £5,416. OKARITO. The Okarito dredge wash-up was 18 ozs. 4 dwts. of gold, for 118 U hours’ dredging. WORKSOP. The Worksop Extended return for the week ended February 3rd, is 21 ozs., for 124 hours’ work, and 10,000 yards of material treated. RIMU FLAT. The return of the Rimu Flat dredge for 129 hours 48 minutes was 276 ozs. 2 dwts., from 51,793 yards of material. CLUTHA RIVER DREDGING COY. Clutha River has declared a first dividend of a penny halfpenny per share, less income tax, payable at London, on February 23rd. The Clutha River dredge return for 128 hours’ work totalled 150 ozs. of gold. BIG RIVER. Report for the period ending February 3rd: No. 5 Level. North stope: This stope has been carried to the limit north. Now beating south. Stone 3ft. wide. South stope: Filling has been completed and commenced breaking stone. Centre stope: Driving on stone 2ft. 6in. wide in the hanging Wall. Winze: Sunk 2ft. 6in. also did some prospecting in the walls. Stone 15ft. wide now in the bottom of the winze. Shaft: Completed 40 feet below No. 5 Level and now sinking through blocked portion. Battery: Forty-one tons of stone were sent to the battery. QUOTATIONS.. Mining quotations are as follows: Alexander (15s paid) 10s lOd, • —; Argo Gold —, Is 9d; Barrytown —, £1 3s 4d; Big River Is 2d, Is sd; Gillespie’s —, Is 3d; Grey River (8s 9d paid) —, Ils 7d; Maori Gully sd, 6d; Mossy Creek Is 3d, Is 9d; Nemona lOd, Is Id; Mount Lyell £1 10s 3d, £1 10s 6d; Mount Morgan 9s 3d, 9s 4d. LONDON, February 7.

Clutha River Company, buyers li 7id, sellers 2s lOid. Molyneaux River Company, buyers Is, sellers Is 3d.