GOLDMINING

Grey River Argus, 30 May 1938, Page 10

GOLDMINING

ARCO RETURN 241 OZS. The Argo Dredge wash-up last week constituted a further record, realing 241 ozs. from 16,000 yards of material in 132 hours. NEW RIVER. The New River Gold Dredging Company’s return tor the week ended May 26, is 27 oz. of gold from 11,000 yards in 127 hours. WHITE’S ELECTRIC. The return of White’s Electric Gold Dredging Company for the week ended May 26, is 350 z. in 1-26 hours. GOLDEN SANDS. The Golden Sands return is 350 z, J2dwt. for forty-four shifts. BLACKBALL CREEK DREDGE. Owing to some minor adjustments and repairs, the Blackball Creek dredge did not wash-up last week. RECORD TRANSVAAL OUTPUT. 1,000,000 FINE OZ. EXCEEDED. For the first time on record, the output of the gold mines of the Transvaal in March exceeded 1,000,000 fine ounces in quantity and £7,000,000 in value. The actual production was 1,012,516 fine ounces, a rise of 15,971 fine ounces compared with the previous monthly record, established in July last year. Taking the price of gold fixed for declaration purposes, the value of the March output was £7,062,299, or £87,941 more than the previous monthly record value in March last year, when gold was taken at £7 2s an ounce. For the first quarter of this year, the value of the output at the prices fixed for the purposes of declaration amounted to £20,415,193, against £20,405,054 for the similar period of 1937. GUINEA GOLD PROFITS INCREASE. Guinea Gold, N.L., received £48,759 in dividends, chiefly on its holding of shares in Bulolo Gold Dredging Ltd., during the year ended February 28, and the net profit increased by £4073 to £45,842. The amount distributed in dividends was £4166 higher at £43,750, and represented Is 9d on the shares of 2s each. The carry-forward was increased to £5OOl from £2909. Shares in other companies, practically the only asset, appear at market valuation at £458,387.