THE WEEK'S MINING NEWS.

Otago Witness, Issue 2310, 9 June 1898, Page 18

THE WEEK'S MINING NEWS.

The secretaiy of the ftexhill Tin Mining Coinpar.y informs Ur, that Mr \V J .Panel!, who ta at f.-.'Sffnl; ia Lauuceiton. has leased the company's property on a three years' tribute. Tbe terms of the tribute art not given, but Mr Fan-ell writes :— "So far as I can judge, I have itiasoiinble. hopes that my scheme will bo cirripd through, and perhaps floated on my terms at aii earKc-i dak than at pjesenl we expect." A Greymouth relegr*ni atites ii.af. two wore go!d-bea)ing reefs have been struck iv tUcPaparoa A« Aucbihnd k'tivam !,**les &a% tbaWaite*

kauri Compauy crushed 1802 tous of quartz for bullion valued at- £4322. Tbp returns since fcha 1 } beginning of the year totalled £25,775. s/ The Molyupux Hydraulic Company's dredgu obtained 3507. 13d wt for the wueb before last of the value of£!37 53. Tho dredge since it started on May 21, 1597, has won 1338i>7- Bdwfc Wgr of gold, valued at £5104 3s lid,' being au average of 250z 7dwt per week, allowing for lest time. This must be considered very satisfactory indeed, taking into consideration tbe high face the dredge is working into Since stalling work £1500 of debt has been paid o» t))e_dredge itself, £600 of a moitga»e on the old_ hydraulic plant, interest. £90, about £200 of sundjy accounts, while the shareholder? have received, jeSSfTlOs in dividends The highest weekly vetmr. waY"79oz Odv/t ]2gr, valued £301 5s.— Dunstan Times

An Auckland telegram states that the Eoyal Oak, Coromandel, obtained gold valued, at £!067 from 10 tons of general quartz, and si3lb'of picked stone

Those connected with PhilHps's Dredging Compauy at Lake JVlahinanua, on ths Vest Coast, anticipate that there is an excellent prospect of tbe dredge paying. From May 6to 27 115 zof amalgam have been obtained. A-i this amalgam produces 9dwt of gold to the ounce its value can bo set down at about £200, which will leave an excellent margin over expenses. It ia understood that steps are to be takei* at once to register the company and buy the dredger. At present the machine is bsing rented on a royalty. The secretary of the Lian Rock Gold Dredging Company (liiur'ted), Mr N Sievvvright, reports 4£oz for the week. A considerable time was lost in bringing the cut round. The dredge is now heading for her original po3itioo, and returnp sho ild show a steady improvement. The last four weeks' work has been done in ground outside of the claim of the company, which, had it proved payable, the company would have tried to acquire in addition to the 100 acres already held by them, but as the results have been so poor the dredgemaster has turned and headed back for the claim.

The secretary of the Otago Dredging Company received a telegram from the dredgemaster yesterday as follows : " Started dredging 1 o'clock to-day. Maelunery going well." The Dunedin Stock Exchange reports 230z of gold from the Golden Run pipes for eight days' work.

Mr N. P. Hjorring, secretary of tfee Maniototo diedge, Naseby, reports: a return of 13oz 2dwtl2gr for 72 hours' dredging acd 5.z for 32 hours' elevating.

The Dunedia Guld Dredging Company obtained B£oz for last week's dredging. The s( cretary of the Clyde Dredging Company (Limited) received the following telegram from the drcdg&master on Saturday evening :— "Struck good gola this afternoon."

Mr Reeves reports a return from the Enterprise dredgt; of 240z 14dwt 15gr gold ior this week's dredsiug.

The L>uuedia Stock Exchange report the following returns for last week :— Golden Treasure Dredging Company, 12?z; Otago Gold Dredging Company, 9oz sdwt for three day*. The - Golden Run- pipes washed up for eight days for 2702. During that time the elevator had to be sliif l.ed.— Tuapeka Times. The Upper Waipori Alluvial Gold Dredgiug Company (Limitea) obtained last week 16oz lSdwt of cold for 135 hours' dredging The Jutland Flat (Waipoii) Gold Mining Company (Limited) obtained last week 330z Sdwt of sold for 144 hours' wage* time, 135 hours' actual dredging.