The Hawera Star. WEDNESDAY, AUGUST 2, 1933 DOMINION’S GOLD-MINING.

Hawera Star, Volume LIII, 2 August 1933, Page 4

The Hawera Star.

WEDNESDAY, AUGUST 2, 1933 DOMINION’S GOLD-MINING.

Delivered erery evening t>y b o’clock in Hawera, Mauaia, Kaupokonui, Otakeho, Oeo, Pihama, Opunake, Normanby, Okaiawa, EUnam, Ngaere, Mangatoki, Kaponga, Awatuna. Te Kiri, Mahoe. Lowgarth, Manutahi, Kakaramea, Alton, Hurleyville, Patea. Whenuakura, Waverley, Mokola-. Wbakamara, Ohangai. ileremere. Fraaer Hoad and Ararata.

The very factors that have created difficulties for most businesses have provided a stimulus for gold-mining and have, at the sa.me time, focussed the mind of the public upon: the rich mineral deposits which still remain to be won. The Unemployment Board sot a valuable lead in tihis direction when prospecting was encouraged and subsidised more as a means of providing an outlet for the energies of some of the thousands of men who, had found themselves out of regular employment. A considerable amount of success was achieved under this scheme, but its most beneficial effect, perhaps, was that it awakened private enterprise to the possibilities of scientific investigation. In addition, the general devaluation of currencies gave added value to gold and placed' a very substantial premium on it's production. The result is that the Dominion to-day is in tire throes of a gold boom of more than moderate dimensions, and interest lias reached a height not paralleled during the present century. This very fact, however, emphasises the need for the exercise of extreme caution on the part, of investors, for there are many opp art unities for the flotation of wild-cut companies and the exploitation.' of the public. At the same time, it cannot be denied that there is a legitimate field far genuine development, and every prospect of gold production taking an increasingly important place in New Zealand industry. Apart from the possibilities of a lucky “strike,” there are features which invest tihe position with particular interest at the present time. In the first place, methods of prospecting areas and subsequently testing them have made notable advances. The Government has greatly assisted in this work by its extensive geophysical surveys, and the more-soundly managed companies have adopted the practice of thoroughly boring the ground before asking the public to. risk its money. Before a real start is made, therefore, it is possible to' foretell with a reasonable measure of accuracy what the ground will yield, and what it will cost to produce the gold it is known to contain. Similar progress has been made in the methods used for winning the gold. Modern, dredges and efficient machinery have replaced the old-time shovel and pan, and engineering skill has been brought to bear also on the problem of ensuring adequate supplies of water and means for disposing of tailings. Then there is the all-import-ant factor of the current price for the metal won. Since England wont off the gold standard the value of gold has appreciated by approximately fifty, per cen t. This means, of course, that some areas which could net- be profitably worked under former conditions will now provide adequate, if not handsome, returns, assisted, in .most cases, by the reduced cost of production, and, frequently, by operations on a scale of a magnitude which would not previously have been considered. Under these conditions, gold-mining its now on a more businesslike basis than if lias ever been before; its mantle of speculation has largely disappeared and it has taken on the cloak of a settled industry. This applies, naturally, only to concerns which have made thorough investigations in advance ainrt, as a result, are able to compute the prospective returns and to estimate the cost of obtaining them. There is one aspect which naturally obtrudes itself into any consideration of the future of gold', and that is the uncertain internal iona.l currency situation, but such an authority a's “The Statist," dealing with this particular point, comments that there should be no cause for disquiet., for any changes in monetary policy would only make permanent the present premium on gold. With all the e'ircumistnln.ees taken into account, go Id-mining is one of the industries which warrant sustained hope for the Dominion’s future.