MINING NEWS
GOLDFIELDS' REDUCED LOSl' The nccounts of the Goldfields Dredg--, ing Company, Limited (Otago), show a loss of £1.22 for the year ended June ' 30, against a loss of £lllO for previous .year. The directors Btate that the increased efficiency of the dredge following overhaul had resulted in more gold being recovered. The pur« chase of an electric welding plant also effected economies in repair work. Provision for the future had been made by pegging off portion of the' Lower Shot over .River, to which position "it is intended eventually to take the ; dredge. Gold won was 6530z., Valued afcy £5024, on which,export duty of £455 was paid. In the previous year only! 418oz. was recovered, valued at \ £3154. < !. The company's accumulated loss is i now £2559. MARTHA COMPANY'S REPORT [ltv telegraph—owx correspondent] WAIHI, Friday.. The following information has been cabled to the London office of tlie Martha Gold Mining Company (Waihi), Limited: — No. 3 Level, 1 Lode.—Driving west ■ of Lovett crosscut, the • next 48ft. assays 23s per ton., based on a stoping width of 4ft. No. 6 Level. North Branch of" Martha Lode. —Driving west of Gidden's crosscut, tlio next 41ft. is ore of good grade, about 4ft. wide. _ - No. 7 Level, Edward Lode, West Section. —The next loft, south-west is of little or no value* and driving is ( stopped. Rising is now in progress at, '6lft. west of the Boach west crosscut*
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Bibliographic details
New Zealand Herald, Volume LXXV, Issue 23127, 27 August 1938, Page 9
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235MINING NEWS New Zealand Herald, Volume LXXV, Issue 23127, 27 August 1938, Page 9
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