MINING

Otago Witness, Issue 3244, 17 May 1916, Page 30

MINING

WEEK'S MINING NEWS May 10. The shaft in tho Waihi Exteneuu mine, Waihi, was sunk a further 4ft during the week before last. The country is now considerably harder and is very favourable in appearance. Quartz ieaders about 6m wide are showing in tho bottom. The shaft is penetrating the footwall side, of ail reefs previously worked in the mine and reefs met with during sinking are therefore entirely new. May 11. An Auckland message reports: xuLsman returns for four weeks, £4924 from 1450 tons. The secretary of the Nokomai Hydraulic Sluicing Company reports that at No. 2 the stripping of the top material to a depth of 17ft was finished, and elevating has been resumed. At No. 3 claim the plant has been removed to the deep ground. Our (Jromweii correspondent reports that in his district mining at the present time is quieter than has been the case for many years, and only a few dredges are engaged in the immediate locality. Tho sluicing claim on the Nevis field has had a bad season, and some claims have only been actively sluicing for a few weeks since Christmas, the scarcity of water being the great drawback. One or two claims there have already shut down for tho season. The Rise and Shine No. 1 dredge worked on a free sanely-clay bottom last week, andg got only poor prospects until Thursday, when some better wash on a red sanely bottom came in at the centre of the cut. The No. 2 dredge worked under conditions similar to those of the previous week, excepting that a good many large stones had come in, and that the gold was much finer than it had been. Tho master of the Electric No. 1 dredgereports that last week ho worked 131 hours for a distance of 12ft moved ahead. Nearly one-half of the river is now opened up, but on account of the rains the river rose on Friday. At the time of writing it was receding again, and the weather had become colder. A number of large boulders continued to come into the cut. Prospects were moderate. The Mount Bischoff Tin Mining Co. (Tasmania) paid it* 447th dividend of 2s 6d per share, and amounting to £ISOO, at tho end of last month. This brings tho total dividends paid up to £2,457,000. May 12. A Christchurch mcsFigo reports a return of 430 z 15dwt for 112 hours' work from tho Success dreclgo. The following cablegram has been sent to the head office of tho Waihi Gold Mining Company, London: —" At No. 11 level, the Edward lode, south of Spratt crosscut, has been driven 39ft, from 552 ft to 591 ft, and tho value is lis a ton. At 544 ft south, tho lode is 9ft wide, worth 10s a ton. Tho drive oh the Empire lodo, east of Bath north-west crosscut, has been extended 24ft, from 424 ft to 448 ft, and the value is 27s a ton. The Royal lode west of the Princess drive has been driven on a further 12ft, of which the value is 8s a ton. At 50ft west the lodo is 10ft, and worth 5s a ton." The Hauraki Reefs battery was engaged crushing during last week. Tho company has installed a No. 6 Wilfley table of the latest type, 15ft long and ' 6ft broad, with 48 ripples, and is doing good work with the ore from the 15 head of stampers. Where formerly eight berdans wore constantly employed the two smallest ones now do tho work. The company is about to effect another economy by doing its own smelting, having established a benzine furnace, capable of melting 300 oz every halfhour, for the treatment of bullion containing base metals. May 13. A return of 18oz 16dwt for 125 hours' work is reported from the Red Jacks dredge. A return of 430 z 15dwt for 112 hours' work is reported from tho Success dredge. The master of tho Electric No. 1 dredge, in reporting a return of 320/. sdwt for eight d».vs' work on the bottom, says that the drift travelling is very heavy. The manager of the Golden Belt mine, Nevosville. reports that, during the past four weeks, 124 tons of ore have been crushed for a return of 5140 z of melted gold, valued at £1317 2« 6rl. 1 h»» <'s from' tinplates only, and equals £lO 12s 5d a ton. The reef at No. 1 level is looking exception-: ally well in the stopes, and the ore broken is of p-ood qualitv. May 15. During the month of April the Talisman Consolidated (Limiteeb and treated

1450 tons of ore for a yield of bullion valued at £4924 9s stl Compared with the return for April, 1915, when 3110 tons yielded £16,114 10s 9d, this shows a decrease of £11.190 Is 4d. The costs for the past month totalled 65s 5d per ton, made up as follows: Mine development, 25s sd: mining-, 225; milling. 12s; general expenses, 6s. The total value of the bullion won from the mine to date is £2,578.450 0s 2d. The total dividends, etc., declared since reconstruction amount to £1,047,471 17s. The following is a copy of a cablegram sent last week to the London office of the company: — "Woodstock section: Started No. 1 wmze under No. 1 rise; progress, 13ft ; reef, 54 in wide; value, £3 19s per ton. No. 6 crosscut:: Progress, 50tt No. 15 level: No. 6 winze—Progress, lift: reef, 33in wide; value, £6 16s 3d per ton. No. 12 winze— Progress, 13ft; reef, 12in wide." The return of 36 oz 13cl\vt, published below, from the Manuherikia dredge, includes 9oz obtained from the save-all May 16. , A return of 390 z for 126 hoars' work is reported from the Murray's Freehold claim. Tho following is a copy of a cablegram sent last week to the London office of the Waihi Grand Junction Gold Mining Company:—"We are crushing 430 tons per 24 j hours. The extraction is £1 lis per ton. No. 7 level, Royal lode, west drive (at 780 ft) : No. 3 rise has been extended 55ft; the average width of the reef is 4ft, and j the value is £2 "12s Id per ton." During the past week a set of bearers was placed in the shaft in the Waihi Extended mine, Waihi. The manager reports that the shaft was sunk a further 2ft, making a total of 71ft. A contract has been let for sinking tho shaft a further 50ft. Good, solid country, carrying quartz leaders, is being met with as sinking proceeds, and in the bottom of the shaft Ift of quartz is now showing. kihi* OPl'lO**, MM9TED. (Fkom a Cobhespondent.) In the early days of the West Coast goldfields much golci was taken out of Rimu Plat and Brighton Terrace, a few miles south of Hok.tika without the use of any elaborate appliances. It has always been held by many that there was much more gold remaining at lower depths than was ever taken out by alluvial miners; but there were difficulties in the way of undertaking work on an extended scale, such as the want of fall for a tail race and the fact of the water in tho small storage dams on Seddon's Terrace, above Rimu, being uised for sluicing on that terrace. In addition to this, as eoon as rumour got about that a comprehensive scheme for working the flat was proposed, claims were invariably pegged out by a few who thought their rights would be worth purchasing. A little more than 12 months ago an expert from New South Wales visited Rimu, and, after inspecting the ground and the available water rights, the Rimu Options, Ltd., was formed in Sydney on hh return. This syndicate lost no time in putting in hand tho necessary preliminary work, the object being, it is understood, to dredge on Rimu Flat and to sluice Brighton Terrace. Tho well-known Sandy Point dredge, which put in some good 'work on the claim about mid-way between Alexandra and Clyde, w y as purchased, and the machinery, etc, is being overhauled in Dunedin preparatory to being shipped to the West Coast. All machinery can bo railed from Greymouth to within a short distance of the property, but it would facilitate matters still more if the machinery could be landed at Hokitika. It ir> probable that additional dredges will be put on, as the company's area comprises about 1000 acres. The bores recently put down are reported to have given satisfactory returns. The contractors for the dredge dam are well ahead with their work and expect to have the clam completed in ample time. Not much information is available concerning tho affairs of the company in Slydney, but it is understood the sanction of the Fed /al Government has been obtained for the flotation of the Rimu No. 1 Dredging Co., and that shares in the venture have already changed hands. It is also reported in Rimu that the Austral-Malay Tin Co. have acquired an option for six months over about 550 acres of the Rimu Options Go's area. Much interest is taken in the venture bv the people of Rimu and Should the success anticipated attend! operations, this, coupled with the now mining nropoeitions in tho Kumara district, should give a much needed fillip to gold mining operations in Wcstland. MOUNT LYELL PROFITS. MELBOURNE, May 13. The Mount Lvell Mininc Company shows a half-yearly profit of £110.500. A dividend of 2s per share has been declared. DREDGING RETURNS. Oz. dwfc. gr. Rise and Shine No. 1, Cromwell, 128 hrs 37 2 0 Olrig, Manuherikia, week ... 36 13 0 Rise and Shine No. 2, Cromwell, 132 hrs 35 17 0 Electric No. 1, Cromwell, Bdys 32 5 0 Rising Sun, Cromwell 13 11 0 Total 155 8 0 The West Coast. Success, 112 hrs 43 15 0 Red Jacks, 125 hrs IS 16 0 Total 62 11 0 DUNEDIN STOCK EXCHANGE. There has been but little business passing on the Exchange during the past week, and the bulk of the sales recorded have been in j Union Steams. Electrics have been offered at 4s 6rl, but buyers have not quoted more I than 3s 7d. For Rise and Shines £1 7s is j offered, and they are to bo had at £1 7s 9d. Sellers of Rising Suns are quoting £1 7s 6d. Waihis are steady, buyers still offering £1 16s, and sellers quoting £1 17s. Grand Junctions are on the market -t 19s 3d, but there Iris been little d< mand for thorn. O.i the 12th £ll4 10s was offered for Bank of Australasias, which have not quoted lately, but there was no seller disclosed. National Banks are wanted at £5 4s, but there are none Business was done in paid Bank of New Zoalands on tho 9th insl at £l7 4s. and the same price has «in,.o boon offered tor them, but buvovs want £l7 6». For lb- old issue £lO 18s 6-1 is ottered without response. Buyers of Un'on Banks have advanced stoadilv, and on tho 121. h they wore quoting £54 15<? withoul drnw■ng a response. There is n steady demand for Nntional Insurance at £2 12s 6d. and Smith j British arc wanted at £5. Standards are offered at £2. Union Rto'-ms advanced from sales at £1 13s 9d on the 9(.h inst. to £1 14s

on the 12th inst., end at that figure they seem for the moment to rest Westport Coals have also been hardening. and a sale was effected on the 12th at £1 10s. More were still to be had at that price, but buyers would not go beyond £1 9s lOd. Preference D.LC.'s are sought tor at £l, Dominion Rubbers at £1 lis 6d, and New Zealand Drugs at £2 ss. Paper Mills were sold on the 10th inst at £l. Whitcombe and Tombs are in demand at £6 5s 6d, and £t> is now being offered for ordinary Wright, Stephensons. There have been offers during the last day or two for M'Gavin and Co.'s brewery shares. Buyers ox Rise and Shines advanced to £1 7s 7d on the 15th, without drawing a response from sellers. Rising buns were offered at £1 7s 6d. Talismans continue much firmer, and 12s 9d was offered for them, holders quoting 13s 9d. National Banks were wanted at £5 4s 9d. The market w-as close in paid Bank of New Zealands, which were sought alter at £l7 ss, and offered, at £l7 6s 6d. Union Steams showed a further advance, and several lots changed hands at £1 14s 2d. The market closed with buyers at £1 14s Id, and sellers at £1 14s 3d. There was only Id between buyers and sellers of Wesfnort Coals, which were wanted at £1 10s 2d.

The following are Monday's latest ouotations, subject to the usual brokerage: Uhkjjging Stocks. Electric—Buyers 3s 3d, sellers 4s 6d. Olrig (ord.)—Buyers 9d. Rise and Shine—Buyers £1 7s 7d. Rising Sun —Sellers £1 7s 6d. MI.MNu JMXOCItH. Talisman Consolidated —Buyers 12s 9d, sellers 13s 9d. Waihi—-Buyers £1 16s 6d. Mount Lyeli —Buyers £1 8s 6;i, sellers £1 9s 9d. May 9. —Union Steam (two parcels), £1 13s 9d; Bank of New Zealand (paid), £l7 4s. Sale reported:—Union Steam (ord.), £1 13s 9d. May 10.—Union Steam, £1 13s 9d (three parcels]. Sale Reported.—New Zealand Paper Mills £l. May 11.—Union Steam, £1 13s lOd (two parceis), £l 13s lid, £1 14s (four parcels). May 12.—Union Steam, £1 14s (five parcels); Westport Coal, £1 10s. May 15. —Union Steam, £1 4s 2d (three parcels). WELLINGTON STOCK EXCHANGE. WELLINGTON, May 15. Stock Exchange quotations:—Success, buyers 13s 3d; Talisman, sellers 13s 3d; Waihi, buyers 36s 3d; Waihi Grand Junction, buyers 18s 3d, sellers 18s 9d; National Bank, buyers £5 7s 6d; Bank of New South Wales, buyers £39 ss; Bank of New Zealand (old), buyers £ll 2s 6d, sellers £ll 7s 6d; Bank of New Zealand (new), buyers £l7 3s; Union Bank, buyers £55; Christchurch Gas, buyers £7 10s; Napier Gas (£lO paid), buyers £ls 10s; Wellington Gas (pref.j, buyers 13s 9d; Christchurch Meat, buyers £l7 ss; Gear Meat Co. (£1 paid), buyers 84s; Huddart-Parker, sellers 27s bd; New Zealand Shipping Co., buyers £2O; Union Steam (pref.), buyers 21s; Kaiapoi Woollen Co., buyers £5 10s; Westport Coal Co., buyers 29s 9d; Waipa Colliery, sellers 18s 6d; Golden Bay Cement, buyers 21s 6d; New Zealand Drub Co., buyers 44s 9d. CHRISTCHURCH STOCK EXCHANGE. CHRISTCHURCH, May 15. Sales reported:—New Zealand farmers' Co-op. (6 per cent. Ist pref), £.5 3s 6d. To-day's quotations: —Christchurch Meat debentures (6 per cent.), buyers £101; National Bank, buyers 104 s; Bank of N.Z. (£3 6s 8d paid), buyers £ll 2s; Manning's Brewery (ex div), buyers 89s; Dalgety and Co., buyers £6 Is 6d; Christchurch Gas, sellers £7 15a; Wellington Gas, sellers £ls; National Insurance, buyers 52s 6d, sellers 555; N.Z. Insurance, buyers 1255; Kaiapoi Woollen Co., buyers 110 s; Kaiapoi Woollen Co. (pref. re div, only), buyers 105 s; N.Z. Drug Co. (£2 paid), buyers 455; N.Z. Farmers' Co-op. (6 per cent Ist pref.), buyers 104 s; Waihi Grand Junction, buyers 18s 6d; Mt. Lyell (cum div), buyers 28s 6d.