THE GOLDFIELDS.

New Zealand Herald, Volume XLIV, Issue 13485, 11 May 1907, Page 3

THE GOLDFIELDS.

; * WAIHI. • . AJQTUAL MEETING. 3s BONUS. AND INCREASED DIYTDENDS FORESHADOWED. Cable advice, received by Mr. C. Rhodes, local attorney of the Waihi Gold Mining Company, in reference to the annual meeting of shareholders neld in London on the 9th inst., states that the proceedings passed off satisfactorily. A bonus of 3s per share, an increase on previous bonuses voted, -was declared. In the course of his remarks', the chairman (Mr. A. M. Mitchison) foreshadowed an increase of future dividends from 3s to 3s 6d per share. MINE MANAGERS' REPORTS. .May Queen .Extended (May 8): An important improvement has taken place" in the value of the ore being broken from Rocky Point reef going west in the low level at 92ft from the main crosscut. The reef is fully 2£fc in width and is composed of very strong quartz and abundance of minerals. Strong dabs of gold are visible in the solid quartz and mineral. The reef, which seems to make a turn to the north of west, is encased in a-splendid mineral country. 'Further stripping ia being done and the reef will be broken down in about two days' time. The outlook in this part of the mine is very promising. In the rise on the 'west branch of the Adelaide reef a height of 40ft has been reached and the leader sloped back to break some 14ft. Fair general ore is coming from this rise. At present it is not equal to the last lot crushed, but, being patchy, may improve at any moment. About two tons and a-half of ore from the rise is on hand and the ore coming from Rocky Point reef is being saved for crushing. - Magnet (May 8): In the main crosscut 6ft have been driven for the week, making a total distance by present company of 158 ft. the whole of the distance being in "an exceedingly hard bar of rock. At the time of writing there is an improvement in the* face, there being patches of better boring country, though still of a hord nature. ■ . ■ ,' ' ' Temple Bar (May 7): During the week the contractors have advanced the level towards the reef a further distance of lift, making a total of 282 ft. For the last few feet the country has been more jointy and of a better description for progress. ' ' ; . '. ' . " ' ,