MINING NEWS

New Zealand Herald, Volume LXXII, Issue 22185, 12 August 1935, Page 5

MINING NEWS

YIELDS OF COMPANIES Black water (Reefton) return for July (June figures being given in parentheses) :—Crushed, 4204 (4002) tons, yielding 1953 (1807) fine ounces gold, value, at 140s 6d (141s) a fine ounce, £1.3,721 (£12,741); working costs, £6286 (£5994); working profit, £7435 (£6747); development expenditure, £775 (£596); capital expenditure, £1336 (£842). Lawson's Flat (West Coast). —For the period from the recommencement of sluicing operations on July 22 up to August 5 the wash-up resulted in the recovery of 68oz. 6d'wt. of retorted gold. No further trouble is anticipated with the power and water supply. Stafford Sluicing (.West Coast).— 20oz. 14dwt. for 15£ shifts. NEVIS DIESEL AFFAIRS The Nevis Diesel Electric Dredging Company, Limited (Otago), reports that the debenture issue of £SOOO approved at the last annual mooting was not (successful and no allotment was made. However, most of the subscribers left their application money as an advance to the company. Consequent upon the debentures not being taken up, the bank could not be paid off. Some of the directors continued to guarantee the overdraft with the bank, which was entitled to a debenture as further security if it -fhoulcl. recjuire it. The boring programme was being continued. An option was given over the clrcdge and Diesel, plant, but was not exercised. There were several inquiries tor the plant, and the board hoped to make a sale during this season. BENDIGO GOLDLIGHT The Bendigo Goldlight Dredging Company, Limited (Central Otago), reports that the dredge is still operating at a depth of 48ft. to 50ft., but that it will get down to the 55ft. level within the next fortnight. Until this depth is reached returns cannot be expected. Progress has been hampered by the very severe frosts, which, reduced the water supply..