OUR GOLD OUTPUT.

New Zealand Herald, Volume XXXVIII, Issue 11842, 20 December 1901, Page 4

OUR GOLD OUTPUT.

We are not able in this Summary. •; • issue to complete the record of our •' gold return for the year, as the . final cleaning up at the batteries has not, . yet been reached. But there is no doubt that we shall have the largest ; ■/; output of any., year for a very long period,- and that the total • will amount to over £700,000. This will be more than £50,000 greater than the last highest total, that of 1899. For this large yield; we are,' of, course,- mainly indebted to the wonderful Waihi mine, which has during i this year produced bullion to the value of about £425,000. There is, unfortunately, a, very different side' : to the history of our goldfields during the past year in the failure of many enterprises which' were commenced with high hopes of. success, and which have been •"* responsible for the loss of much', capital. All parts of the Auck- ■->' land goldfields have had thesefailures—Coromandel, the Thames, Karangahake, and Waihi. It maybe said that the attempt at .'the; Thames to reach the deep levels has not yet been made. A very exten-; • sive plant was erected for sinking, and a large shaft was sunk, but the depth which would really amount to! : a test of whether gold exists, at. the low levels has not been reached. . But the company in London which was carrying on the operations has , now become involved, and at pre- . sent it is impossible to say whether' -- the . work can be carried on- .so:. as to really test the deep levels.- * The mines at Karangahake have •been making fair progress, and we expect a considerable improvement o during the coming year. ' In the Waihi mine itself we anticipate no falling off, but on the contrary asteady increase during the " year. . And it is quite likely that some of the other mines at Waihi, which have for years been working energetically to get a share of the golden harvest which their neighboui was reaping ■* so plentifully, will be able to date their success from 1902. The Grand Junction mine, the nearest neighbour of the Waihi, has lately been on quartz which has assayed splendidly, and it is quite likely that next year will place it on a high and permanent level as a- producer of gold.' The same may be said of the Kauri Freehold Gold Estates Company who are now working at the Opitonui portion of their property. They : have been opening; up three mines, all of them now in a position to turn out payable ore. They have a bat- ■ tery of 40 stamps and a most complete plant otherwise. The prospects, therefore, of this district are most encouraging, and form one of the cheering features of the goldfield. On the whole, therefore, we look forward to 1902 at> an important j year for our goldfields. It will be found that to be successful operations must be conducted carefully, -> systematically, and with large capital. But it will be found also that ... when these elements are present, success comes in a fair proportion of " : cases. This will no doubt lead to such a revival of confidence as may, ensure the carrying on of likely enterprises. Anything more than that is not hoped for ; here, because " booms," when ground is taken up merely as ■ a venture, and with ;no definite prospects, are injurious to. all concerned. • 1