MINING NOTES
Mining share in boom times’ are, £• source or pront to tliose who know the ropes. At the end of every boom or flutter tiie public is left to the-baby. Those who have been nursing gold shares for some years niaj have learnt trie lesson, lake proncs wuen the going is good and leave tilt discoveries to tliose who know al. about them. Possibly a spineless policy, but it pays in gold mining. Snowy River Sluicing Co.—The engineer, Mr T. Learmoht, reports (Oct, 31) that the whole of contracts are now at work on the company’s, race. Good gold was obtained from prpjspec.tk taken from the entrance of No. 30 tunnel oi the claim, 40 feet above the bottom. 'A considerable saving has been effected by carrying part ot the ditching rounc the gulleys, obviating the use o fluming. ** * * A miner with fifty years’ experience writing in the “Alexandra Herald,” expressed the opinion that ir the watei of '.the Molyneux' and Clutlia rivers was lowered enough gold would he recovered to pay the national debt and build all the post offices required m New* Zealand.
The N.Z. Financial Times of November, referring to the Piper’s Flat Company has the following:—Now Piper’s Flat is within cooee of Hokitika, one of the ‘most conservative towns in the :Dominion, and a- critic’s opinion is, that if “The Wheel of Fortune” claim is only half as good as it is stated (“The Wheel of Fortune. Ltd.,” propectus estimated an annual return of 100%; hut Piper’s'Flat Goldfields, I ltd., prospectus is more modest, and anticipates only 83%, and then with gold £4 per ounce) there would be‘ no need to go outside of Hokitika for capital to work this claim, and work it well. The difference between this venture and such flotations as Okarito Gillespie’s Beach, and Waitalni, should be obvious.
The Moonlight Extended Goldmining Coy., Ltd., near to Queenstown, reports the property has a natural face of 100 feet for the tailings and gold values has been proved up to the boundary of the property. It is estimated that 3,000 yards per day can he treated at a cost of ?d per yard with a’return of .4(1 per yard.
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Bibliographic details
Hokitika Guardian, 21 November 1932, Page 6
Word Count
366MINING NOTES Hokitika Guardian, 21 November 1932, Page 6
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