GOLD MINING

Grey River Argus, 10 January 1941, Page 7

GOLD MINING

WAIHI INVESTMENTS. INCREASE IN REVENUE. LONDON, November 15. The revenue of Wa'ihi Investments and Exploration, Limited, amounted to £11,094 in the past year, compared with £6,134 in 1939, Mr. G. R. Mitchison, the chairman, stated at the annual meeting this week. The net profit (as already published) was £9,085, against £4,255. The increase in revenue, sa'id Mr. Mitchison, was due principally to the inclusion of a dividend, from Puket Tin Dredging, Limited (Thailand). The company’s interests in Harrietville (Tronoh),. Limited Victoria, had been increased by a little less than £40,000. Investments in British Government and other trustee securities were reduced by rather over ■.■■ at sum.

The book value of investments, excluding shares in Harrietville, which were at present held by the companies concerned and not quoted -n the market, amounted to £383,022. Their market value at September 30 was £315,881 showing a depreciation of £67,141. ’More than two-thirds of that depreciation was due to the market quotations for Puket. Commenting on the production of Puket, Mr. Mitchison said that the prospect of a dividend from that company this year was “none too hopeful.” The dredge had been working for some time past in difficult and good ground. It was expected that the Harrietville gold dredge would be operating toward the latter part of 1941. “I see no reason to alter my good opinion of the prospects of Harrietville,” said Mr. Mitchison.