MINING NEWS.

New Zealand Herald, Volume LXIX, Issue 21130, 12 March 1932, Page 7

MINING NEWS.

BLACKWATER OPERATIONS. CRUSHING IN FEBRUARY. The returns of Blackwater Mines, Limited (Reofton) for February are as follows:—3601 tons of ore were crushed, yielding 1739 fine ounces of gold, valued at £7388. In addition 76 tons of concentrates were treated for a return of 102 fine ounces of gold, valued nt £433. Working expenses and capital and development expenditure Amounted tQ £6402. The profit over all was £1419 with gold at standard value. MAHAKIPAWA GOLDFIELDS. XEW DEBENTURE ISSUE. A new debenture issue not exceeding £2500 and ranking in priority to the preference shares authorised in 1929 was derided upon at the annual meeting of jMahakipawa GoHfields, Limited, this wenk. . . Mr ,T R. TempUn, chairman of direcfnrs 'said that up to the present tuiia there had been no discovery of sufficient magnitude to produce consistent payable returns. Since October returns had been most erratic and were insufficient to pay expenses. The result was the filian? cial position at the present time was entirely' unsatisfactory, and if additional capital was not forthcoming it wol,ld impossible to continue operations unless returns improve. KING SOLOMON DEEP LEAP. WASH-UP OF 34 OZ. FOR WEEK[BY TELKCiRATiT.— PRESS ASSOCIATION,]. INVEHCARCtIM'. Frid*y, The wash-up for the King Solomon Deep Lead (Gore) for- the past week totalled 340z. sdwt.'; ....... -