MINING.

Otago Daily Times, Issue 16645, 17 March 1916, Page 6

MINING.

The output of the Mount Lyell M. and R. Company, Tasmania, for the last two four-weekly periods, ended respectively February 16 and January 19, was as follows (the January figures being those in parentheses). It "must be borne in mind that the Christmas and New Year holidays lessened the output for the January term, and that only two furnaces were in blast. The returns are: Ore treated, 25,317 (19,200) tons, comprising Mount Lyell ore 15,763 (12,274) tons, North Mount Lyell ore 9554 (6926) tons.- Blister copper produced, 511 (401) tons, containing 506 (397) tons copper, 26,983 (23,528) ounces silver, and 769 (577) ounces gold. The annual statement of affairs of tho ftise and Sh'ine Dredging Company shows that the company, which was registered in ISOO, has a subscribed capital of £10,000, of which £9746 3s 8d has been paid up. There are 157 shareholders, ■ and employment ie given to 22 men. During last year the company won 42970z i3dwt of gold, valued at £16,608 12s 6d, making, the total earnings to date 42,1390z 4dwt 7gr, valued at £163,654 9s. The total expenditure has been £125,845 3s lid. of which £6322 16s 2d was spent last year (including £711 18s 10d liability from the previous year). Dividends amounting to £47,700 have been paid. The company has cash in the bnnk and on deposit amounting to £2166 13s lOd' (including reserve), and it has debts totalling £917 6s sd. There have bean wide fluctuations in Edna May Central scrip of late (says an exchange), , partly owing to a brighter outlook, but chiefly owing to a bear squeeze, as bears have for some time taken liberties with uie Edna May groun. Developments at the 300 ft level of tho "Edna May have also been more satisfactory,. but the main feature of interest is the sinking of the Deeps shaft to definitely prove whether the bore cut tho lode in the Deeps Central or Edna May. Whichever mine is found to have it is sure to have a smart rise on tho fact leaking out. / As progress in sinking in all three mines is painfuJlv slow, it will probably be at least six months before any of the shafts is down 450 ft to settle the point definitely.