MINING.

Otago Daily Times, Issue 16120, 8 July 1914, Page 9

MINING.

The soeretary of the Manuherikia Company has received a telegram from bho drdogemasfcer stating that operations were resumed yesterday. Every tiling is in rwidintss on the Sailors' Bund dredge to resume operations tor the season, when the river has receded sufficiently. The master of tho Good /Chance dredge, reporting on tho 4th inst.. stated that rJio river was receding to the level required for dredging T-ha road is ready for traffic, and on Monday ho intends to drop tho dredge back to where operations will bo commenced. The gold yield) of New Soutlh Wales for May was 5994 line ounces, valued at £25,459, as compared with 10,3040z, valued at £43,769, for the samo month last year. The yield for the first five months of this year shows a decline of 7606 m, and £52,304 in value, a≤ compared with tho corresponding period last year. After many months of negotiation, the promoters ol' tho Now South Walts ConSfolidat;xl Diamond and Tin Mines have reached a satisfactory agreement with the owners of the Alfredaniia and Round Mount mines (N.S.W.), under which theso alluvial mines may shortly be regularly worked. Despite- the heavy drop, in tho value of tin. the product in diamonds from theen mines at .present prices will, it is hoped l , yield a good return on the proposed total issued capital of tho Consolidated Company— £9000. Tho secretary of tho Nokomai Hydraulic Sluicing Company reports that No. 1 had a full week's work, and the stripping of top material was firiif.hcd on Friday. Lent week two days' howl front was experienced. but the supply of water is plentiful. Good progress has been lnodb on tho No. 2 race extension. Tho manager expects tho extension race to foe formed through this week with tho exception of two chains of rocky point and some slips and sodding to bo dona.

(.IOOD CHANCE COMPANY. The fifth annual report (if t'ho directors of tho Good OJianeu Dredging Company state:; that owing to the long -c<;iitiria<-<! height mid unstc'ttiiii (if tho river, coinb.'m'd '.villi the hirj,'u quantity of drift uont.tunrd in it., during '1 ,, ' winter sea.wn, l<llo dredge wns iiraotM/.itlJy icllu ail the year. 'I'liu dredges operating in (.his particular gorge wi'i'e work:ny uiid' r similar <■<>iklilions si lid had the same difficulty to contend with. Tho frost, lias now set in, n.ri<l it, is • ■vhiK'u thnt openiiioua will -be coin-uii.-nci'd ;it an early dale, so th.it shareholders may look forward to dredging ix'iiiK continued till the- first, or Kifond week in Noveinlxr next, or i>rrhaps longer. On every owasion that ijie dredge bottomed and the river kept low, good returns lii.ve been won, so t.hat, given a favourable river this season, the, company's dredge will no dsmhf win lino average returns. Mr Thomaa (jlciidining is tin; retiring director.