MINING NEWS

New Zealand Herald, Volume LXX, Issue 21639, 3 November 1933, Page 5

MINING NEWS

GOLDEN DAWN PROFIT The operations of Golden Dawn. Gold Mines. Limited, for the half-vear ended June 30 show a net profit of £I4BB, as against £'99o in the previous half-year. After this profit is struck £312 is allowed for depreciation, the balance increasing the balance in the profit and loss appropriation account to £2641. During the period 4933 tons of the company's ore and 158 tons of outside ore were for a total return of £16,651, or, deducting outside ore, £16.223. The directors State they are investigating the best methods of improving returns and reducing costs. Investigations indicated that underfoot of No. 3 level in both reefs values were consistently good. The directors decided to open the old shaft which extends to lOOit. below this level. Tt is estimated that the opening of No. 4 level for stoping will occupy three months. In, the meantime a reduced quantity of ore is being treated, the surplus capacity being used for outside ore, which not only gives the company a profit on the ore treated bat reduces treatment costs. TALISMAN HALF-YEAR The accounts of Talisman Dubbo Gold Mines, Limbed, for the half-year ended June 30 show a debit of £IIS, as against a profit of £7 in the previous half-year. The debit in the profit and loss account is thereby increased to £392. The drive was extended 144 ft. in the six months. An issue of 5000 shares to provide for the erection of an aerial ropeway and hoppers, the completion of -the rise through the Talisman Dubbo level and preparing the mine for stoping was over-subscribed. The ropeway is in preparation anrl ore is now being sent for treatment at the Golden Dawn battery. BELL-HOOPER RETURN" ~ Bell-Hooper Cromwell Gold, Limited, reports >a wash-up for the week ending October 28 of lOoz. lOdwt. of gold. ADDISON'S COMPANY STARTS [by telegraph—i-uess association] WESTPORT, Thursday The Addison's Gold Mining Company held its ollirial opening to-day, when there was a large atendance at tho company's works. The chairman of directors stated that from four shifts gold valued at £135 had been recovered. REPORTS OF MANAGERS Golconda (Thames). —The following telegram was received yesterday from the company's mine manager: — Secured 51b. picked stone from brancfe reef, south.