MINING.

Otago Daily Times, Issue 16718, 12 June 1916, Page 6

MINING.

During- May the Talisman Consolidated Company crushed 1470 tons of ore for a yield ot bullion valued at £5191. r lhe total value won from tho mine to date is £2,533,641. Iho Gieymouth Star etates that tho representative of the llimu Options (Ltd.) iias arranged with the Mines Department immediately to send a second Keystone borer to liokiiika with a view to prospecting Nog. 2 and 3 dredging claims on Rimu Fiat. Tho machine is expectcd to arrive thero this week. That mining investment is not entirely dead is evidenced by the fact that the Tairua Broken Hills mine has once again been floated (sai s the Auckland Star). The plant is icpotted to bo in working order, but repairs will require to bo effected to the water raco bofore operations can be rebimied at the battery. Tho capital of the new company is £6000 in 60,000 shares of 2s each. Tho prospectus states that m the past this property paid £28,000 in dividends. The battery consists of 20 stamps, and it is estimated that £300 will put the water race in orclei. Tho price to be paid by the company for tho mining privileges with buildings is £400, and for t'le battery and mining machinery and plant and otiicr property £2600, "in all £3000; but of this, only £1503 is to bo paid in cash and £JOOO is to bo paid out of the first net profits from the working of the mine and the balance. £500, is to be paid °ut of half net profits fiom the working of tho mine—the other half going to the company. Nothing is payable for goodwill. No shares paid up or partly paid up are being given to the vendor or anyone else. ITie vendor holds an option to purchase the properties being rold to the company, vdated December 9, 1915, the consideration being £2000. DREDGING RETURNS. . ' Oz. dwt. gr. OJng, Manuherikia, week ... 27 10 0 .Rise "and Shine, No. 1, Ciomwell, 154 hours .. ... 25 2 0 Electric No. 1, Cromwell, 131 hours 20 1 0 Rising Sun, Cromwell, 131 _ hours - .. 18 13 0 Rieo and Shine, No. 2, Cromwell, 127 hours 18 6 0 Total 109 12 0 The West Coast. Success, week 44 6 0 Red Jacks, 126 hours 19 1 0 Total 63 7 0 — = 1