MINING

Hokitika Guardian, 7 December 1934, Page 8

MINING

GOLDEN SANDS DIVIDEND

A meeting of the directors of Golden Sands Ltd., decided to pay a 10 I jer cent, dividend, payable on December 15. • Share registers will be closed on December 16.

CENTRAL SHOTOYEIt

DUNEDIN, December 5.

' The Central ghotover Company reports a return of lOoz sdwt Lom a paddock of approximately a quarter of an acre.

MATAKI YARDAGE

The following is the official return for last week: Yield, 22 ounces; hours, 137; yards, 14,000. The dredge pulled ahead 42ft in ground of an average depth of 14ft. The length of the face at present is 363 ft. Opened out a good deal in the river, lifting all bottom and sand. This is absolutely necessary to be rignt across the rivei for the beach. The ground has. now started to dip right across 1 the inside cut. This will mean better dredging, and will increase the yardage.

MAORI GULLY DREDGE

The engineer to the Maori Gully Dredging Company, reporting on December 1 on the progress of the construction’of the dredge, states that the gantry framing had been erected, the main framing almost completed, main winches were iii position on the deck, and the screen was on board. The ladder had been rivetted up and iTTe buckets were being connected up to the bank.. Despite the dry weather there was ample water in the creek and paddock. Judging N by the progress made to date the dredge ought to be completed by the end of next month (January). Applications have been called for the position of dredgemaster. The secretary supplies details of the financial position of the company'. When the dredge is completed and all; costs in conection therewith paid there will be available Dor working capital the sum of £2136. Of a subscribed capital of 18,000 the calls in arrear fire £25.-' The terms of contract for the construction of the dredge provide for the contractor, at the option of the company, dredging a maximum quantity of 1-50,000 cubic yards of material, at 3d a cubic yard, and paying all working expenses, before the plant is finally taken over.