THE GRAND JUNCTION.

New Zealand Herald, Volume LIX, Issue 18020, 20 February 1922, Page 6

THE GRAND JUNCTION.

WHY BATTERY CLOSES DOWN.

PRESENT TONNAGE UNPAYABLE. [by telegraph.—own correspondent.] WAIHI, Sunday, The managing director of the Waihi Grand Junction Mining Co., Mr. S. Leah, has issued the following announcement in connection with the closing down of the company's battery:—

" Acting on the advice of Mr. H. Stanfield, the company's consulting mining enginoer, t'he board of directors have decided that, consequent upon the high cost of wages and stores, which render the present monthly tonnage (about two thirds of the mill's capacity) unpayable, the mill will cease operations from February 18. Mining work will then be confined to the energetic development laterally and in depth, with the object of augmenting the ore reserves, which, owing to the long time which elapsed before the resumption of sinking to No. !) level, due to the war, water, and other causes, have become reduced to about 100,000 tons. We shall then be able'to resume milling at the full capacity of the mill later in the year, by which time th* cost of working expenses will have materially been reduced."