MINING NEWS

New Zealand Herald, Volume LXXV, Issue 23205, 26 November 1938, Page 11

MINING NEWS

MOONLIGHT DIVrDEND > '8 The Moonlight Goldfields Company, Limited (West Coast), has declared a dividend of 7} per cent, payable on / December 9. The distribution last year _ was 5 per cent. h LIFE OF SANDHILLS MINE There was about two and a-half years' life remaining in the property of .... the Sandhills Gold Mining Company, Limited (Central Otago), said the chairman, Mr. H. T. Guthrie, at the annual meeting in Dunedin this week. Tho year had been satisfactory, added the chairman. The debentures, and the interest had been paid off, while a dividend of Id a share had been declared. The manager's report on prospects had been fully confirmed, and although ho did not want to be over~~ optimistic, there were prospects of* striking a lead. - " - - Jf ' .**; .-*• YIELDS OF (COMPANIES . Moonlight Goldfields (West Coast).— : J lOOoz. in 300 hours. '>*»« Wellington Alluvials (New South.,;:: Wales). —Four weeks ended November 12: 9190z. from 208,000 yards in 440 v . hours. The bucket line parted on October 20, and was recovered. Dredging was resumed on October 25. Mossy Creek (West Coast). —170z,a c 15dwt. from 8800 yards in 126 hours. Central Shotover (Otago). —28oz. 12dwt. Big River (West Coast). —From—October 1 to November 19: Batterer department: 360 tons of ore for 2060z. ldwt. of melted gold. The cyanide department was not cleaned ~ up. Total estimated value; £1390. In addition, 4 tons of concentrates were saved, valued at £135. In estimating the above values, gold has been taken—g at 140s a fine ounce. , )