GOLDMINING

Grey River Argus, 14 March 1939, Page 2

GOLDMINING

MATAKI GOLD LTD. AUCKLAND, March 10. A net profit of £l9OO against a loss of £441 in the previous year is shown in the accounts of the Mataki Gold Dredging, Ltd., Murchison, for the year ended December 31, 1938. With £991 brought in, there is £2891 available for distribution. A dividend of Id a share absorbed £1406, leaving £1485 to be carried forward. 1 Gold won was valued at £14,251, | compared with £10,422 in the previous ■ year. | | The directors’ report states that the I returns showed a considerable improvement on the two preceding years lup to November, when returns fell! away. I “The time is approaching when the! dredge can operate in its own pond,' thus controlling the depth of water making for more consistent returns? < The total increase in wages was £890.| j At one stage during the year the directors seriously considered calling the shareholders together to discuss 1 the advisability of ceasing operations. ’

An improvement in the value of ground being worked saved the necessity for this drastic step.” fijie amount paid in gold tax was £1075, or only £330 less than the amount distributed to shareholders. In the previous year £BO6 was paid. MATAKI. I AUCKLAND, March 13. . j . Mataki dredge return for the week ■ (ended 10th. inst., was nine ounces for -I 132 hours’ work and 7,200 yards. / quotations. Alexander 15s (paid), —, 10s sd; Blackball Creek 9d, Is; Big River —, Is; Grey River 18s, 18s 3d; Maori Gully 7d, 8d; Worksop -— Is; Mount Morgan Ils 2d, Ils Bd.