MINING NEWS.

New Zealand Herald, Volume LX, Issue 18345, 10 March 1923, Page 7

MINING NEWS.

MUIR'S GOLD REEFS. YEAR'S RETURN, £67,009. The report of the directors of Muir'e Gold Reefs, Ltd.. presented to the annual meeting of shareholders held at To Puke, stated that in the year ended December 81 last 28,810 tons of ore were crushed and treated for a total return of , bullion valued at £67,009 lis 7d. Of this,amount £19,367 represented gold in transit, estimated to be worth £4 6s per ounce. Gold duty and realisation expenses reduced the gross proceeds from the bullion won to £68,180 16s 6d. Working expenses for the year totalled £38,364 12s 6d, leaving a balance of £24,816 8s lid, which had been carried to profit and loss account. The ore reserves at the end of the year' were estimated at 19,062 tons, of an average assay value of £3 8s a ton. There was also additional tonnage partially developed. •

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