ROMANCE OF MINING

Otago Daily Times, Issue 21982, 17 June 1933, Page 5

ROMANCE OF MINING

GREAT BOULDER DIVIDENDS. The history of the Great Boulder Proprietary Company (writes a special correspondent of the Melbourne is wrapped up with the .listory of Iv.algoorlie. In 1894 Kalgoorlie was at a low ebb, as most of the alluvial diggings had become exhausted, but the successful flotation of the Great Boulder and Lake View mines in 1895 resulted in an orgy of company promotion, and money flowed into the fields. To-day, after 39 years of production, the Great Boulder, confounding the pessimists of recent years who contended the mine was nearing its end, shows no sign of exhaustion, ami in point of fact, several prominent discoveries have been made on the property during the past twelve months, especially on the “ X ” lode i.fc the 1650 feet and 1900 feet levels. Within a few years of its existence the company produced 1,000,0000 z of gold after being regarded as a veritable “ wild cat,” and had paid £1,703,657 in divi-

dends —almost ten times the amount of the nominal capital. Its dividends have been its distinctive. feature. except during recent years. Since the mine’s inception in 1895 it crushed to June, 1932, 4.361,698 tons for 4,341,939bz, valued at £14,844,819. Profits were £7,597,224. The 2s shares forming the capital of £175,000 have realised more than 3524 per cent, in dividends—a feature unsurpassed except by very few companies in the world. No other company on the Golden Mile has come within 50 per cent, of the dividends paid by the Great Boulder. The latest estimate' of ore reserves reveals that there are 204,792 tons of Bdwt ore, while probable ore reserves are 333,208 tons. Ore reserves in 1930 were only 87,000 odd tons. The mine is maintaining its reputation as one of the world’s most remarkable properties.