WAIHI INVESTMENTS

Otago Daily Times, Issue 22964, 20 August 1936, Page 7

WAIHI INVESTMENTS

RISE IN THE 5s SHARES NOW QUOTED AT 6s 9d ' (From Our Own Correspondent) (By Air Mail) LONDON, July 25. An increased interest has been shown recently in the 5s shares of Waihi Investments and Exploration, which are now quoted around 6s 9d. This company and the Martha Gold Mining Company (Waihi) resulted from the reorganisation last year of the former Waihi Gold Mining Company. Waihi Investments look over shares in the Puket Tin Dredging Company, a Siamese concern, and certain other assets. The gold mining properties were transferred to Martha Gold. It is expected that, when the first accounts are made up in September, they will disclose a strong position and show that capital is more than represented by gilt-edged securities. Waihi owns two-thirds of the capital of the Puket Tin Company, which earned a profit last year of £32,000. As the dredge has been engaged this year in working through some noor ground, which had previously been mined by the Chinese, the results to date are not favourable. Better ground, however, is now being worked, and the results for the final months of the year should be much more satisfactory. Any concession granted to Siam to secure her adherence to the tin restriction scheme should help Puket which, it is believed, recently secured a small increase in its output quota. The balance of the Puket Tin capital is held by Tronoh Mines. It is probable that when Puket starts to pay dividents—in a year or so—Tronoh may put some of its shares on the market. This will enable Waihi shareholders to assess the value of their own shares more accurately. The nosition regarding Martha Gold is obscured by the forty-hour-week problem in New Zealand, said one London writer this week. The company has an agreement with its miners running into the middle of next year, but if they insist on the shorter working week it will mean the loss of four hours' mining on Saturdays. The management is confident that mining could bo sufficiently speeded up to maintain output. The only point in doubt is whether the mill can be run on Saturdays as usual.