MINING NEWS

New Zealand Herald, Volume LXXIII, Issue 22333, 3 February 1936, Page 5

MINING NEWS

YIELDS OF COMPANIES Talisman Dubbo (Karangahake).— 61£ tons of ore were treated al the Golden Dawn battery for an approximate realisation of £-182. Maori Gully (West Coast). — 360z 6dwt. for 128 hours. NEVIS DIESEL OPTION The secretary of the Nevis Diesel Electric Dredging Company, Limited (Central Otago), advises that the directors have given an option over the whole of the company's assets to an Auckland investor on the following terms: —That a new company be formed, the prospectus to be issued by February 14. That the Nevis • Diesel Electric Dredging Company, Limited, have the right to appoint a director to the board of the new company. That the purchase price be £15,000 payable as to £2OOO not later than "May 31. 1936; £IOOO three months later, a further £IOOO six months thereafter, the balance, £II.OOO, to be paid by the issue of £II,OOO 5 per cent first mortgage debenture stock (repayable in two years) to the Nevis Diesel Company a.nd secured over all its assets. LOLOMA ORE TREATMENT The directors of Loloma Gold .'Mine? (Fiji) report that during the pasls few months exhaustive investigation into the treatment of the company's ore lias been made and satisfactory extraction has been achieved. It is expected that when further tests have been completed an early decision to proceed with the erection of a suitable treatment plant will be made. The director: also report that they have approved of a joint power scheme with the Emperor Gold Mining Company, Limited, for the supply of electric power and compressed air to the companies' '-mines in Fiji, and for this purpose steps are now being taken to form a company under their control to erect and operate the necessary plant. REPORTS OF MANAGERS Mataki (Murchison). —Last week the dredge worked 131 hours on a face of 500 ft., the average depth, including; pug bottom, being lifted. being 15ft. The drought continues and the water u get ting lower each day, making dredging most difficult. We are unable to get into the eastern corner and have had to drop tern* porarily 40ft. of the face. The face on the inside is now 10ft. above water and over 100 ft. of the face there is only Sit. of water under to the pug. All machinery is working well. J