MINING NEWS

New Zealand Herald, Volume LXXI, Issue 21937, 22 October 1934, Page 5

MINING NEWS

YIELDS OF COMPANIES Bell Hooper (Cromwell) .—-Last week, 13oz. lOdwt. BENDIGO GOLDLIGHT OPTION A Dunedm>eport states that an option has bean negotiated with an Australian firm for. 750 acres of 1000 acres held by the Bendigo Gokilight Mining Company (Central Otago). The Australian concern proposes to put on a large dredge to work in from the river. WESTERN AUSTRALIAN YIELD The Western Australian gold yield for September was 55,168 fine ounces, valued at £481,246 (Australian currency). It was 2679 ounces less than for August, and 2911 ounces below the return for September, 1933. AUSTRALIAN . PRICE OF GOLD The price fixed by the Commonwealth Bank for gold, including jewellery, lodged at the Melbourne Mint, for the week ended October 12, was at the rate of approximately £8 Is lid a standard ounce (22 carats;), equal to a premium of 3107.90 per cent. Payment is made according to the assay value of the gold. The price was 3d higher on the week.. The price an ounce fine was £8 16s 7d, a rise of 8d on the week. REPORTS OF MANAGERS Mahakipawa (Marlborough).—Owing to continued heavy • rain, we are unable to cope with the amount of water the mine is making. The mine worked only 24 hours last week. The weather continues very we;b. Moanataiari Golconda Consolidated, Limited (Thames).—Last week the crosscut advanced a further 27ft., making 103 ft. to data. The country; is inclined to be harder and finer grained than hitherto.