MINING NEWS.

Lake County Press, Issue 2391, 31 August 1911, Page 4

MINING NEWS.

Work has been resumed in the various claims of the district. Present indications unfortunately point to a dry summer. Wo have had no snow to speak of this winter, but it is quite possible to have a fall yet. 'Die Cromwell Argus says the 909 dredge has some interesting figures since starting dredging on January 19th this season. Up to the 18th August, a period of 30 weeks, the dredge has won 25 returns totalling 1641 ounces, one week there was no wash up and a high river in April stopped the dredge for four weeks, consequently for the 20 dredging weeks this works out at G3oz 2dwt or for the full 30 weeks an average return of a fraction over 53 ounces. Dividends of 15s per share have been returned to shareholders on the capital of 3000 shares of one pound each, making a total paid in dividends to date of 25s per share. The company has still about three miles of maiden river to work so there is every prospect of the fortunate shareholders having steady dividends for some years to come. Dredging returns: Electric No. 1, Cloz; Rise and Shine No. ), 520z ; Otago, 48oz; Hartley and Riley, 420z; Manuherikia, 420z; Rising Sun, 370z ; Sandy Point, 260z; Lady Roxburgh, 250z ; Masterton, 240z; Waikaia, 17oz; Central Charlton, Kioz; Waikaka United No. 1, 15oz; Koputai, 15oz ; Golden Sun, 12oz ; Waikaka United No. 2, 10oz; Olrig, 7oz.