MINING NEWS.
WAIHI.
INCREASED ORE RESERVES.
The annual report of the Waihi Gold Mining Company shows that during last year 192,333 tons were treated. The gold and silver realised £333,433 2s lOd, and to this amount must be added £16,147 12s lid, being estimated increase of bullion in process of production on December 31. These amounts, together with £14,097 16s 4d for interest, makes a total of £363,678 12s Id. The expenditure in New Zealand and London amounted to £208,268 15s, leaving a balance of £155,409 17s Id. The sum of £99,181 8s has been paid in dividends, equal to a distribution of 4s per share, or 20 per cent, free of tax. The ore reserves show a net increase of 29,043 tons, being an increase of 52,694 tons in general account, less a decrease of 23,651 in suspense account. The latter is payable ore in arches and pillars which support levels and shafts, but of this there are portions which cannot be taken out while the shafts are in use.
The power plant has worked satisfactorily, and it is estimated that a saving of £20,000 to £25,000 over the corresponding costs of steam and gas power in 1913 has been effected. The groyne at the headworks has been extended, and the effective head of water increased by 2ft.
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Bibliographic details
New Zealand Herald, Volume LIII, Issue 16259, 19 June 1916, Page 3
Word Count
219MINING NEWS. New Zealand Herald, Volume LIII, Issue 16259, 19 June 1916, Page 3
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