GOLDMINING
Snowy River Gold Dredging, Ltd., report net earnings of £9,213 for the year ended June 30. The debit ct £1,988 brought in from the previous year was extinguished anti preliminary expenses were written down by £268, leaving a surplus of £6,857 to be carried forward. The bank advance of £6,000 in December, 1940, for the purchase of Teasdale’s Block was repaid, and at the close of the year the overdraft was £192. Active operations did not begin until the middle of January. During the year the dredge treated 571,927 cubic yards for 1,945 czs. of gold, valued at £16,342 Grey River return to September 24 was 211 ozs. in 112 hours from 80.270 yards. The company has announced the declaration of a dividend of 6d a share, payable on September 30. The Austral New Zealand dredge return is 501 oz. of bullion for the 14 days to midnight on September 20.
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Grey River Argus, 27 September 1941, Page 1
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152GOLDMINING Grey River Argus, 27 September 1941, Page 1
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