MINING NEWS.

New Zealand Herald, Volume LIX, Issue 18075, 27 April 1922, Page 5

MINING NEWS.

| WAIHI. j PAST YEAR'S ACCOUNTS. i Cabled advice has been received by the attorney at Auckland that the annual meet- . ing of the Waihi Goldmining Company, Limited, will be held in London on May 8. The statement of accounts for the year is as J . under:—Carried forward from last year, , £14,100; gross profits, 1921, £66,600; special 11 clean-up at refinery, £10,000; making a total lof £120,700. Of this amount dividends have absorbed £43,600, and income tax and cor-

porntion profits tax £46,100. The sum of £11,000 has been allowed for depreciation, leaving £11,000 to be carried forward. i OHINEMUEt. The report from the manager of the Ohineaun. gold and silver mines for the week Lpril '22 is as follows south drive on he new raef is now ont 114 ft, and the reef a the full width of drive, with no walhi hawing. The quartz kindly for carryng values, but continues to be of a very Lard nature. The assay value at 109 ft was a 3d per ton. In the north drive no work las been done during tie p*st week owing o shortage of labour after the holidays. The iveiißo assay value at 46ft taken over thei lill width of drive is £18 8a 9d per ton. MINE MANAGERS' REPORTS. Hauraki Mines.-At the 400 ft level the Irive seaward from the bottom of No. 1 irinze iB in 90ft and though no gold has >eeii eeen the indications; are favourable. The low of water is increasing as the drive advances In the Welcome Find section, we ire -till engaged securing the broken ground net with last week, leaving about 90ft to to to get. the reef. We expect to be through hie run in a few days. At the 300 ft level, n order to locate the northern continuation ■>i Legge's reef, a drive has been started and LOft driven. The country is interlaced with strong mineral sesme. Evening Star.-The dnv? west of No. 1 irinze on the Waiotahi-Cambna reef haa been advanced 7ft and the total width of the reef exposed ie 2ft. The hangingwall is not in eight Bunches of mineralised ore bare been met with and the ore ie favour»ble. Good country is being met with on tie footwalL