MINING NEWS

New Zealand Herald, Volume LXXV, Issue 22971, 24 February 1938, Page 9

MINING NEWS

SOUTH ISLAND PROSPECTING An assurance that the prospecting of reefs in Macetown, Bullenaaile and Skippers would bo carried out by thoroughly organised . parties next spring was given by the' Minister of Mines,'the Hon. P. C. "Wtebb, during his recent visit to Queenstown. The Minister discussed the.matter with the Lake County Miners' Association. The chairman of the association, Mr. W. H. Overton, said there was a firm belief among the miners that these reefs wcro well worth opening Up, and to prove or disprove this theory it was asked that the country be thoroughly prospected. _ . . The Minister said ho was surprised to know that prospecting had not been carried out to any extent, because after his last visit, he liad instructed his department to put men out. He was aware that a man had been sent out, and had prospected the reefs in Shotover known as Sainsburys. The results' forwarded were poor. - >

YIELDS OF COMPANIES Argo (West Coast).; —1450z. from 17,000 yards in 131 hours. Vi*:ARGO DIVIDEND A dividend of Id a share, free of income tax, lins been declared by the Argo Gold Drecjging Company, Limited ("West Coast), and will be payable on Monday. The dividend represents a distribution of £2OOO, which makes a total of £'23,200 paid in dividends since operations, commenced. A sum of £2OO has been placed to the reserve fund, which now stands at £2200.