GOLDMINING

Grey River Argus, 18 May 1944, Page 2

GOLDMINING

COMPANY ACCOUNTS. For the 12 months ended December 31, 1943, the net profit of the Slab Hut Creek Gold Dredging Company was £4,577. The gross profit from working account was £6,079. Dividends during the" period amounted to £3,700. Gold won was valued al £25 512. Ngah’ere Gold Dredging Ltd., report a net profit for 1943 of £22.637, an increase of £3,916. The profit increases the credit balance carrieed forward to £61,768. Gold recovered, 8,408 ounces, was 407 ounces more than in the previous year. A net profit of £25,758 compared with £40,332 in the previous year, and £32,794 in 1941, is shown In the accounts of the Grey River Dredging Company for the year ended December 31 last. Throughout 1943 the dredge operated for 5,593 hours, or 80 per cent, of possible digging time, and treated 3,528,114 yards of gravel, from which 11,474 ounces of bull.on was obtained, realising £114,702. DREDGE RETURNS. The Gillespie’s Beach wash-up for the week ended May 13 was 29 ounces secured from 16,300 yards of material in 127 hours. Associated Gold Dredges (N Z.) Ltd’s, dredges, in the week ended May 13, recovered 72 ounces from 56,750 yards of material treated in 352 dredging hours. Marsden dredge is at present going through tailings. The Clutha dredge, in the week ended May 12, recovered 94 ounces in 79 hours, states a Press Association message. Dredge returns for the first half of May were:—- > Barrytown, 282 ounces, from 113,000 yards recovered in 231 hours. Kanieri, 782 ounces, from 90,000 yards, recovered in 247 hours. Arahura, 660 ounces recovered m 263 hours from 146,000 yards of ma-te-rial. '