MINING NEWS.

New Zealand Herald, Volume LXIX, Issue 21166, 26 April 1932, Page 5

MINING NEWS.

ALEXANDER PRODUCTION. RETURNS FOR PAST YEAR. The total value of gold produced by Alexander Mines. Ltd. (Reefton). during the year ended December 31. 1931, was £16,053. Expenses totalled £9342. The amount of gold in hand and in transit at December 31 was valued at £5625. Outside liabilities at that date amounted to £748 and debts due to the company £332. The total value of gold obtained since the company's inception in 1926 was £46,703 and expenses £73,728. The company's subscribed capital stands at £75,000. STOCK EXCHANGE LISTING. The New Guinea Gold Exploitation Company, Ltd., which has its headquarters in Auckland, was officially listed by the Auckland Stock Exchange on Saturday. The company has an authorised capital of £12,000, in Is shares, of which £10,390 is subscribed, and it holds leases and rights over 117 acres on the Mase lliver, New Guinea. It was originally registered as a private company and subsequently as a public company. REPORTS OF MANAGERS. Talisman Dubbo (Karangahake).—The drive at No. 1 Talisman level lias been extended 9ft. during the past week, making the total distance driven 159 it. The country is still of good class tor reel's, seveial quartz leaders being cut. WILUNA -GOLD RESULTS. The Wiluna Gold Corporation, Lid. (Western Australia), during .March treated 27,010 tons, yielding £36,118, or, with exchange premium, £44.877. Working costs were £25,472, or ]Bs lOd a ton milled : and development and exploration, £9790, or 7s 3d a ton milled; estimated working surplus was £9615. Construction, etc., £4050. Estimated value of bullion is exclusive of gold premium. "February production of gold realised £55,283, increasing working surplus that month from £BI2B to £21,620 Australian currency. The management recently acquired by pegging additional ground to the west and south of the existing mining area; to cover' extensions of this and other ore bodies which may be disclosed by further exploration. TRIBUTERS AND GOLD PREMIUM. In consequence of the decision of the principal goldmining companies in Western Australia to award a 50 per cent, proportion of the enhanced price of gold to tributers, between £30,000 and £40,000 has been distributed on the Golden Mile, Kalgoorlie. Payment was for the period September to December last, and future payments will be made quarterly. This distribution is entirely separate from the appeal awaiting the decision of the Privy Council whether tributers are entitled to a half-share of the premium resulting from the increased rate of exchange.