MINING NEWS

New Zealand Herald, Volume LXXI, Issue 21972, 1 December 1934, Page 7

MINING NEWS

GOLGONDA HOLDINGS A net profit of £1507 is shown in the accounts of Golconda Holdings, Limited, Auckland, for the first year of operation. The directors propose a final dividend of o per cent for the period ended November 30. An interim dividend of 10 per cent was paid last August. The directors state that the property at Thames on which the company was formed was still undeveloped, but it avas hoped to deal with it at an early date. The adjoining property had been sold to a subsidiary company, Moanataiari Golconda Consolidated, Limited, for £3500, and this amount had been carried to reserves. Work was continuing on the Maliara Reefs development at Tapu, near Thames, but it had been decided to abandon the Black Sands Sluicing proposition near Charleston, West Coast. The whole of the development expenditure on this claim had been written off and provision also had been made for unprofitable work on the Maliara Reefs property. A subsidiary company, Mataki Junction Gold Dredging No Liability, had been floated in Sydney to acquire areas at Murchison, while an option was at present being negotiated for the Mataki No. 2 area.

WORKSOP DIVIDEND The directors of the Worksop Extended Gold Dredging Company, Limited, have declared a dividend of 10 per cent, payable on December 19. The company, which commenced operations at Antonio's Flat, near Reefton. a few months ago, paid its first dividend, of 10 per cent, on November 12. The company has issued 320.000 shares of Is each, including 140,000 vendors' and promoters' shares. YIELDS OF COMPANIES Goldfields Dredging (Shotover). — Week ended November 30, 41oz I2dwt for 118 hours' dredging. Skippers (Shotover). —320z lOdwt for 30 hours' work. King Solomon (Gore). —This week, 83oz 9dwt.