MINING NEWS.

New Zealand Herald, Volume XLIV, Issue 13452, 31 May 1907, Page 3

MINING NEWS.

WAIHI.

RECORD RETURN FOR MAY.

£64,196 FROM 28,382 TONS:

TOTAL TO DATE, £5,666,696. During the period ended May 18. the Waihi Gold Mining Company crushed and; treated 28,382 tons of ore for a yield of ! bullion valued at £64,196, these figures being in excess of the return for the corresponding month of 1906, when bullion to the value of £62,182 was obtained from 24,632 tons of ore. This return is also the highest secured from the mine for a monthly period, beating the record return of April month of this year, when a yield of bullion valued at £64,010, from 27,655 tons of ore, was obtained. The grand total to date reaches' the sum of £5,666,696, but though the 1906 return is put down at £786,474, the adjustment of bullion.values will increase that sum to about £825,000. The following table contains the details to date :—

Shareholders in the "Wailii Company will receive the lf/st dividend of 3s declared, along with the bonus of 3s, to-morrow (Saturday) morning, and . the distribution of this 6s per share brings the total amount paid to date up to £2,577,896. The number of local' shareholders is steadily increasing, and of the £150,000 being circulated they .will receive among them approximately £23,000. , TALISMAN. ; The dividend of Is per. share recently declared by the directors 'of the Talisman Consolidated Gold Mining Company will be payable . to-morrow (June 1), and will increase the total sum distributed in dividends up to £120,000. , , . . WAIHI EXTENDED. ' [BY TELEGRAPH.—OWN CORRESPONDENT.] . Waihi, Thursday. Since the intersection of the No. 2 . lode at the No.. 4 level of. the Waihi Extended mine a distance of rather over 120ft,has been driven along the course of the ore body. The reef is well defined, and appears to be more compact and settled than in • the upper level. Progress has, of course, been retarded, , first by the recent mishap to the ' machinery, repairs to which were; completed last Saturday, and 'by'the somewhat harder, country encountered during the past few days. 1

AURIFEROUS DEVELOPMENT. - A WEST COAST SCHEME. ' [BY „ TELEGRAPH.— ASSOCIATION.] Hokitika, Thursday. Next week a party of Government officers will go into a scheme for draining and working the auriferous drifts of Ross Flat for the purpose of deciding the terms on which the " subsidy will be payable, t An Australian engineer who recently investigated the proposition on behalf of Sydney capitalists reports very favourably on the scheme, and the proposed method of electrically working the plants. very hopeful feeling exists as' to the _ future of this important mining development. Greymol'th, Thursday, Important negotiations in connection with the development of the' Wilson's Reward claim and Wilberforce Reefs have just been concluded, and are likely to result in further active prospecting operations being undertaken. An Australian syndicate . has obtai»ed a 12 months' option over the claim, one of the' conditions of agreement being that the syndicate shall spend at least £600 per month on development work. if, at the end of the option, the syndicate desire to take over the claim, they will give the present holders at least one-tenth of the shares in the company to be floated, in addition to certain sums in cash. The operations of the syndicate will be watched with interest.

! MINE MANAGERS' REPORTS. Golden ' Cross (May . 27): The work is beingpushed on as rapidly as possible. For the last week 13ft has been driven, making 1 the total distance, driven : round the broken ground 33ft. I expect to get into the old level again this week.' ! Magnet (May 28): An additional sft has been driven in the main crosscut, making: a total of 173 it by the present company. The rock in the I face is still very strong, but changing colour.. The tunnel is considerably over 1100 ft in length,' and I am looking fos a change for the better at any time. Kapowai (May 27): The low level lias been extended 14ft, making a total of 247 ft. In the eastern end of No. 2 fi leading stope has been carried 10ft on the block opened there. The reef in- this stope is 3ft wide and prospects fairly. The leader in the west end of No. 2 level has been poor daring the week; The battery started this week, but a breakdown occurred, and trouble was experienced with the. water- ~v' ? crushing being done. Everything is now fixed and in good working order.. Old Kapanga (May 28): Before sending my last report we cut into what 1 took to be a watercourse, but it has proved to be worked ground. I intend to come back a few feet and start a rise up to the point where we got the gold. Two weeks should prove this.

To ' July 31, 1890 ... £13.628 [July 31, 1890, to December 31, 1891 ... 36,458 [In 1892, 18,297 tons — ... -<0.^ In 1893, 19,805 tons - . 64,345 |In 1894, 24,364 tons ... V, 83,023 In 1895, 33,670 tons... . 120,335 In 1896 , 34,410 tons... ... 135,156 In 1897, 40,764 tons 144,941 In 1898, 77,929 tons 256,494 In 1899, 102,381 tons 302,525 In 1900, 112,012 tons ... 317,902 In 1901, 159,325 tons ■ 461,205 In 1902, 179,485 tons ... 521,574 In 1903, 231,323 tons ... 658,393 In 1904, 259,978 tons ... 6832 In 1905, 298,531 tons ... .» 728,521 In 1906, 328,866 tons ... ... ... 786,474 5,360,175 Period ending— . January 27, 1907, 22,297 tons ... 51,990 February 28, 1907, 27,453 tons ...., ; 63,235 March, 1907, 27.072 tons ... ... 63.09 April, 1907, 27.655 tons ... ... 64,010 May 18, 1907, 28,382 tons ... ..." 64,196 Total to date ... ..." £5,666,696 Total dividends, etc., to March 1, 1907. ... ... ... ••• ••• £2,427,896