MINING.

Otago Daily Times, Issue 19333, 20 November 1924, Page 9

MINING.

TUe directors of the Mount Lyell Mining and Railway Company have declared out of the profits, a dividend of Is per share for the year ended September 30. Hie dividend will be payable on December 15. In the report on the geological survey of the Wnihi district by Mr P. J. Morgan, director, appears a brief reference to the Owhhroa district, which is of interest to shareholders in the Rising Sun mino at a time when an effort is being made to raise move capital for development work. Hjo paragraph reads: “xVt Owharoa, the Siriiie of Fortune and Radical ore bodies became unprofitable at a small depth, not recorded, but not far below the level of tho Ohuiemiiri River. On the other hand, tho Rising Sun ore shoot appears likely to persist to a considerable depth.” The manager oi Argo Concentrates (Eta.) reports thut the company now has throe L. and 0. machines working experimentally on the Argo claim on the Oliinemuri River. The machines have been working very satisfactorily, and when properly tuned up the prospects of obtaining in full the results anticipated by the patentees and the company are very bright.