MINING NEWS

New Zealand Herald, Volume LXXII, Issue 22202, 31 August 1935, Page 11

MINING NEWS

ALEXANDER YEAR PROFIT SLIGHTLY LOWER A net profit of £4926 is shown in the accounts of Alexander Mines, LimitedReefton, for the year ended May 31. This compares with £5149 in the previous year and £13,227 in 1932-33. There was a debit balance of £382 brought into the accounts, and one dividend, the 10th," of Is a share required £3750, leaving £794 to be carried forward. The mine was closed from March, 1934, to July, 1934, owing to a strike, but was then manned with non-union labour. Production for the 10. months for which the' mine was open was 3144 ounces, which realised £24,362. A sum of £2020 was paid as gold tax and £1029 as income tax. Reference is made to the " unfair burden " of the gold tax. The directors report that operationswere confined to developments and oreextraction from the McVicar block. I'ho hydro-electric-power plant "was completed in October, and is functioning! satisfactorily. The furnace erected to; treat concentrates recovered from the battery was placed in commission m October. The returns have been satisfactory, and show a saving in cost over the old method of shipping them to Australia for treatment. The percentage of gold extraction has not been quite as satisfactory as was anticipated, but considerable research work has been done, and is in progress, in the hope of overcoming that difficulty. YIELDS OF COMPANIES Golden Dawn (Owharoa). —For tha 12 working days ended August 19, 360 tons of ore were treated for a return of £1942. realisation estimated at £7 2s per gold oz. Kildare (Central Otago).—A washup was completed last week for a return of 4Soz 4dwt. Severe frosts wore experienced. Kinc Solomon (Gore). —This week. 6307. sdwt..

Talisman Dubbo (Karangahnke),—• 50 tons were treated at the Golden Dawn battery t'or' approximate realisation of £478.