MINING.

Otago Daily Times, Issue 17375, 24 July 1918, Page 6

MINING.

■Yields from Westonia minus for Jiuip a™ now available. An improvement in output tSt X" by both the Edl,a Ma " "id Edua May Deeps Companies. Taking the latt£ venture first, it crushed 800 tons for a re eovcry of £6 3s 4d per ton. Th°s is £? per ton more than was obtained in May and April, and )8 nearly 20s per ton Iww than tho average for Jamiary, February and March of this your. The reporting of an output of tho kind was immediately rcnectod in tho stock and share market This meant thiit some pressure took place fo» scrip, as the market was a rrood deal over'sold, but later on as settlements wore ar ranged prices soon adjusted themselves Ihe fact that, they tnen rapidly eased seemed to indicate i:hat tho view wq S taken bv dealers that tho rrrade of stone cnish.»d was somewhat higher than the general average of tho orlo still ~vail,.blo fc down to the bottom level. Tlio reason why hrlna May «.,•,,, moved forward was be cause the company ir, again in a position in break stone from the two bottom lewis llns means that instead of a.n oii+mit o f only 6170z of bullion neinrr obtainerl from 2030 t-ons, a= in May. 15060z were won in .June from 255* tons, the vnlim n f the viVld therefore moving up from £40-13 to £7428 Tho variation in th-e- output of tho Edna May Central Company was so flight as not to ceil for comment, Tho samst remark

applies to the Edna May Consolidated yMd the average per ton of stone treated in June being 295, as against 32s lid for Mav At the latter property it is expected tbat tnere will be an increased output from Julv onwards as tho result of developments during the past month.