MINING NEWS

New Zealand Herald, Volume LXXII, Issue 22247, 23 October 1935, Page 9

MINING NEWS

.TALISMAN DIVIDEND SIXPENCE A SHARE An interim dividend of 6d a share, equal to 10 per cent, has been declared by Talisman Dubbo Gold Mines, Limited (Karangahake). Payment "will be made on November 9. This is the third dividend this year and the seventh since crushing _ was commenced in August, 1933. It is at the usual rate. FUTURE OF MAHAKIPAWA [BT TELEGRAPH —PRESS ASSOCIATION] CHRISTCHURCH, Tuesday The future policy of Mahakipawa Goldfields (Marlborough), Limited, will be determined by the results of tests now being carried out to ascertain the possibilities of the extension of operations with additional capital. A general meeting of shareholders, held today, was adjourned pending the results of the, tests. Mr. J. 11. Templin, chairman of directors, who presided, said the company had arranged to sink a shaft toward the south end of the claim to prove if payable values existed on the false bottom approximately 10 chains south of the King Solomon shaft. If a profitable lead was cut at this level it wpuld be possible to test the existence ofi the wash over a length of 60 chains north of the new shaft. Results would be known within , two months. As the company owed £I9OO, exclusive of a grant from the Unemployment Board and the post of the geophysical survey, it would mean that £2900 would be required to place the company in a position to carry on further testing work. If the company was unsuccessful in striking gold a further £IOOO would be required for labour. TRANSVAAL OUTPUT The quantity of gold, produced from the mines of the Transvaal in August, at 929,331 fine ounces, was slightly in excess of that for the preceding month and was larger than in any month since August, 1933. At £7 an ounce the value was £6,505,317, or slightly less than the record figure of £6,517,816 for July, when. the gold was valued at £7 0s 6d an ounce. WAIMUMU OPERATIONS A report issued by the Waimumu Sluicing Company, Limited (Gore), for the past six months states that gold won totalled 2480z., and although the plant had required considerable attention, a profit was shown over the period. Owing to abnormally dry weather, the Waimumu Stream had fallen to such a low level that, economical working was impossible at present. During the past 12 months the weather had been almost unique in the history of Southland, giving rise to quite unexpected difficulties. It had, therefore, been decided that sluicing would be discontinued until sufficient rain fell to justify a fresh start. REPORTS OF MANAGERS t)awn of Hope (Thames).—The crosscut to intersect the winze has been advanced 7ft. The sinking of No, 2 winre on the reef to meet the crosscut has been continued, the progress for the week being 4ft. The quartz broken out of the reef »howa gold.