MINING

Hokitika Guardian, 9 April 1937, Page 6

MINING

MATAI COMPANY

(Per Press Association— Copyright).

AUCKLAND; April 7,

A net profit of £‘2292, against £4016 in the previous year, is shown in the accounts of the Mataki Gold Dredging Ltd., for the year ended December 31. The company is operating near Murchison. •

Two interim dividends.of Id a-share were paid during the year, absorbing £2812. Income tax for 1935. required £35, and £1968 is carried into the. accounts. Tue reserve fund, vhich now amounts to £3375, was maintained at the normal rate of £2O a week. Ihe directors state that the value of the ground at present being worked has resulted in poor returns since, the beginning of the year, but they are-hope-ful that before long a distinct ment will be shown. The report again criticises the gold tax and fears are expressed that if a 40-hour week is imposed on the industry the company may have to eon'sider the advisability of closing down. During the year the yardage showed a substantial reduction, being 415;543 yards, compared with 595,934 yards in 1935 Gold won amounted to l/13ozs (19720 zin 1935), which realised £13,808. The amount paid in gold- tax was £IO6O.

ALEXANDER MINE. _ Alexander Mines, Ltd A report that for March 408 tons werelsent to the battery and 398 tons were crushed for a . return of 183 oz 3dwt of melted go'dDuring the same period the cyanide department treated 258 tons of sands for 50oz Bdwt of bullion. - The total .-estimated value is £1598. In addition 7.85 tons of concentrates were, saved, valued at £223. Gold has been tak,en at 145 s a fine ounce. : -V- ■

WORKSOP DREDGE. Tho Worksop dredge secured a return this week of lßoz.