MINING NEWS.

New Zealand Herald, Volume LXVIII, Issue 21067, 29 December 1931, Page 3

MINING NEWS.

OPERATIONS IN THE SOUTH. GOLDEN PROGRESS RETURNS. For tho period November 17 to December 19 Golden Progress Aline (Central Otago) returned 5220z. of retorted gold from 175 tons of ore. Two tons of concentrates from the Wilfiey table are estimated to produce 380z., and one ton of middlings is estimated to produce 7oz. of gold. This makes ci total return of 5670z. from all sources. This is reported to be the highest return from an Otago mine for manv years.

ALEXANDER YIELD. The clean-up of Alexander Alines (Reefton) for tho period ended December 22 was 400 tons of ore crushed for 3500z. lldwt. of melted gold; cyanide 230 tons sands treated for 98oz. 16dwt. bullion; estimated value £1738, exclusive of premium sale of gold in London and premium on exchange. WIL.UNA GOLD CORPORATION. During November AVilunn Gold Corporation (Western Australia) treated 26,065 tons ore, yielding bullion £30,635, and with exchange premium, £38,064. Costs in Australian currency were £24,182, or 18s 7d a ton milled, and development costs, £7496, or 5s 9d ton milled, showing an estimated working surplus of £6386. Construction expenditure was £1153. Estimated bullion is exclusive of premium on tho price of gold. Advice has been received that the October production was sold to realise £55,974 (Australian currency), increasing the working surplus for October from £7657 to £23',246 (Australian currency). BULOLO COMPANY'S CAPItAL.

Shareholders of Bulolo Gold Dredging, Limited (New Guinea), have been'advised that an extraordinary general meeting will be held at the head office of the company, Vancouver, to-morrow, for the purpose of considering, and, if approved, passing a resolution increasing the authorised capital of the company from £BOO,OOO to £1.200,000, by the creation of 400.000 additional shares of £1 a share. The extra capital is desired in order to complete negotiations with Placer Development. Limited, for tho purchase from that, company of a largo dredging area located immediately downstream from tho Bulolo Company's property.

REPORTS OF MANAGERS. Talisman Dubbo (Earangahake) : For the week ended December 19 a further distance of 10 feet has boon driven south from the crosscut at No. 1 Talisman level, making a total of 20 feet. Tho country being passed through is of a good class for progress and should make for values in the reef when intersected.