VALUABLE MINE.

New Zealand Herald, Volume LXVI, Issue 20235, 20 April 1929, Page 14

VALUABLE MINE.

" LIFEBLOOD " OF WAIHI.

REVIEW MADE BY MAYOR

[BV TELEGRAPH. —OWN CORRESPONDENT.! WAIHI, Friday. The influence of the Waihi goldmine on the prosperity of the town of Waihi was referred to last evening by the Mayor, Mr. W. M. Wallnutt, at a meeting of the Borough Council, 'L'he gold duty was recognised as the lifeblood of the town, said Mr. Wallnutt. The mine was one of exceptional constitution and vitality. Eighteen years ago an attempt was made to assess the length of its life, and it was still producing over one-third of one million pounds a year. As lato ns the year 1927 the ore opened up during the year equalled that crushed. It was obvious, therefore, that the life of the mine was not to be gauged by its official reserve, which necessarily must be stated with caution and conservatism. "For example," said the Mayor, "the Grand Junction property was closed down some years back, being no longer payable under the conditions of reduced output then obtaining. Yet, in the hands of the Waihi Company, aided by that company's big output, many thousands of tons of payable ore were won from it during the years 1927.and 1928. For myself, I feel that it is impossible even now to say how long the mine can continue to be worked at a profit."