MINING.

Otago Witness, Issue 1844, 25 March 1887, Page 12

MINING.

NOTES FROM REEFTON. (Pbom Otra Own Correspondent.) Reefton, March 18. An inquiry has 6et in for No. 2 South Keep-ifc-Darks, la being offered freely. Merrigigs, which were placed on the market on Tuesday last at £4 per full share, have since been selling at from £10 to £12 103 for full share. A committee has been appointed to visib and report on the prospects of the venture, and a meeting of phareholders will be held on Monday evening to decide upon a course of action. March 19. The following are the battery returns for the past week : — ' Keep-it-Dark, 2870z amalgam from 200 tons stone; Welcome, 1178oz amalgam from 325 tons stone (for the month) ; Just-in-Time, 1250z amalgam from 90 tons stone. Globe. — During the week the distance driven east along the reef was 14ft, the total length driven on being 38ft. From the crosscut the reef has been driven on 18ft west. The manager reports payable gold showing in both drives. A start was made to-day to send stone to the battery. March 20. The share market' was unusually busy all day yesterday. A spurt in Pandoras commenced at an early hour in the morning and continued throughout the day, prices rising rapidly from about 2s 9d on the preceding evening to 5s last night. At this figure there were many sales in the early part of the evening, but later on the tendency was iv the direction of a decline. But as business by this time was over, it is hard to give the market price just now. A small movement in the No. 2 South Keep-it-Darks began early in the day, and was eagerly followpd up, report giving the closing price at 2s 6d. The shares are now held in good fame owing to the development in the Pandora, and will no doubt be influenced throughout by the fortunes of the latter. South Weafth of Nations, which is end on to the Pandora, is thought to be a good 6how, and there has been some inquiry for tho shares, but I can learn of no transactions. Nil Desperandums have had some attention during the last day or two up to about Bs. The company did not scrape tho plates yesterday, and will probably go on crushing till Saturday next." Reports say the plates show fairly well. Globes and Progress have been quiet during the past day or two, attention having been absorbed in other directions ; but as the latter resumes crushing to-morrow and the Globe at an early date, a movement in both directions may be looked for very shortly. March 21, Lone Star. — It is reported this evening that a day or bo ago the reef pinched out of the winze, but thiß morning made again, showing remarkably erood gold. The stone is from 18 inches to 2fc thick. The share market has been quiet to-day. Pandoras, since Saturday evening, fell to 4s 6d and are now quoted at 4s 3d to 4s 6d. Nil's are said to have changed hands to-day at 9s, and there are buyers of Progresses at 14s. No. 2 Keep-it-Darks are stationary at last quotation. March 22. Pandora. — After hanging fire for some little time, these shares are again in active demand tonight. News came down this afternoon that the reef after pinching somewhat has agaiu made and is at tbe present time showing the full width of the shaft. The shares at present stand at 4s 6d Nil Desperandum. — News has come in that the reef, which to-day had pinched out, has again come in, being now about 2ft. The shares have been a little easier during the day, but will now probably pick up a little. Later. No. 2 Keep-it-Dark.— lt is reported to-night that a small quartz leader has come, in at the face in the main level, but I have not been able to obtain any particulars. WAKATIPU MINING NOTES. (Pbom Opb Own Correspondent.) Arrow, March 22. The Gallant Tip, Upper Shotover, are. busy stoping out with six men at the north end of the workings, where the reef is now 4ft wide. The output for last week was 35 tons from prospecting as well as the stone of last crushing, which went 12dwt to the ton. Water being still short, the battery will not start for about a week. The repairs at the Phcenix electric works are now in a forward state, and will soon be in operation again. The claims at Skippers Point still look well, but no trials have been made on a large scale. The Sunrise party at Advance Peak, Macetown, are pushing ahead with their tunnel. The Tipperary Company, Macetown, are busy crushing.