MINING.

Otago Witness, Issue 3278, 10 January 1917, Page 22

MINING.

WEEK'S MINING NEWS January 3. The Golden Belt Gold Mining Company, Nevesville, has crushed 120 tons of ore, and 200 tons of tailings, for a return of bullion valued at £482 4s lOd. The manager reports that at No. 1 level the reef' in the south rise looks well, the ore broken being of payable quality. The south end will be driven ahead after the holidays. The Tairua Broken Hills Gold Mining Company has crushed 25 tons of low-grade ore left in the battery hoppers by the old company, and 22 tons of ore from No. 1 reef. The cleaning tip from the plates gave a return of only 18oz 13dwt of melted bullion, valued at about £SO. The sands and slimes will be treated later. The manager reports that the ore from the stone on No. 1 reef, north of the crosscut, gave a value of £3 13s 7d per ton at the lip of the box. As there appears to be a large tonnage of this ore in sight, ho intends keeping two shifts at work on- it after the holidays, and hopes to have 10 head of stampers running one shift for some time to com-e. The winze on the Pinion reef was sunk to 15ft below the level. In the last few feet the ore showed a gradual falling-off in value, and work here was discontinued. January 4. Production work at the Mount Lyell Com pany's mines is proceeding on lines compatible with the inadequate labour supply, with an output only sufficient to keep two furnaces in operation. The sintering and flotation plants continue to work satisfactorily. The coal-fired furnace plant for sulphur extraction is in steady work, treating Mount Lyell pyrites and producing sulphur. The other plant, to be employed for the recovery of sulphur, consisting of an elec-trically-heated furnace, is all ready for starting. January 5. The secretary of the Nokomai Hydraulic Sluicing Company reports that a wash-up was made at No. 2 claim, the result being 114 oz 16dwt for 12 days' sluicing. At No. 3 good progress was made with the stripping off of the top material. January 6. The manager of the Rising Sun mine. Awharoa, reports that sloping was continued last week above the low level, on No. 1 reef. The reef varied in width from Igft to 3ft, and the ore broken was of good value. In the south drive on the footwall branch a Ift formation crossed the drive at 70ft in. This should junction with the hanging-wall branch, and is being driven upon in the direction of the latter. January 8.

Mining operations at the Edna May mine (says tile Mining Standard), Westonia (W.A.), were uninterrupted during the halfyear ended October 31. and led to the usual satisfactory results. Eighteen thousand live hundred and sixty-nine tons of ore were treated tor a return of 16.3490 z smelted gold, equal to 17.6dwt per tun; and 14,110 tons of eands yielded 13900 z Bdwt of bullion, valued at '£soll 14s, equal to 7s 1.24 d per ton treated ; and 6969 tons of slime returned 215C0/. lOdwt of bullion, valued at £7676 2s 9d. equal to 22s per ton treated. The value of the mill gold was £65,879, and. the general manager (Mr M. T. Williams) states that ''the recovery obtained by amalgamation from milling and fine grinding is equal to 70s 11.4 d per ton. or 85.17 per cent, of the total gold contents of the ore," while the recoveries by the sands leaching plant were 76.94 pen- cent., and those of the slime plant were 83.22 per cent. from current, and 90.22 per cent, from accumulated slimes. The average value of the stone treated during the half-year was c'3s 3.72<1 per ton. During the half year six dividi uds of 5s per share were declared. and tie- thirty-sixth of 3s was paid on November 17, 'making the total distribution of profits to date £220.677 10s. equal to £5 3s p> r share. The sum of £lO5 was; donated to tho funds of the Y.M.C.A. and £SO to the Westonia Hospital. January 9. Tho following returns arf reported from the New Big River Mir." for tho month of December: —420 tons of stone have been crushed for a return of 2740 z 3dwt of melted gold : 350 tons of sands have been oyanided for a return of 640 z 6dwt <>f bullion. Tho total estimated value of these returns is £1260. Concentrates at Rcefton awaiting shipment amount to 31 tors 4ewt 531 b. The following are the returns from the Consolidat' d group of mines for Becember:—l'rotrr.W: Crushed 1800 tons, value £2035. worknnr expenses £lOl3, capital £4, development £416. Blackwater: Crushed 2074 tons, value £4131. working expenses £272-?. capital £1073. development £360. Wealth of Nations: Crushed 1400 tons, value

£2207, working exp nsos £1537, capital £l, development £l2O. MOUNT MORGAN RETURNS. MELBOURNE, January 5. The Mount Morgan (Queensland) Cold Mining Company's half-yearly report shows the revenue at £643,990, and the expenditure £502,475, leaving a surplus of £141,515. DREDGING R E TIJ R NS, Oz. dwt. gr. Rise and Shine. No. 2.87 hrs 44 3 0 Rising Sim, 60hrs 29 9 0 Tola! 73 12 0 DUXEDIX STOCK EXCHANGE. The Dunedin Stock Exchange reopened on Monday after the holidays. Business was rruiofc, and prices showed little variation from the closing values last vcar. Waihis were in demand at £1 15s. and Waihi Grand Junctions at 15-. hut there were no sellers of either line. Union Steams had a buyer at £2 Is 6d, with a seller asking Is more, and Westport Coals were wanted at £1 6s 3d. without result. The following are yesterday's latest quoTlio following are'Monday's latest quoDrejiging Stocks. Electric —Buyers 2s 6d. Rise and Shine —Sellers £1 3s. Rising Sun—Sellers £1 2s 6d. Mi.nini; Stocks. Talisman Consolidated —Sellers 103. Waihi—Buyers £1 15s. Waihi Grand Junction —Buyers 15s. WELLINGTON STOCK EXCHANGE. WELLINGTON, January S. The Stock Exchange re-opened to-day, when the following quotations were recorded: —Murray Creek (new issue)—buyers 5s prem. ; Waihi —buyers £1 14s, Waihi Grand Junction —buyers 15s; National Bank —buyers £4 17s fox div.),; Bank of Xew Zealand (old)—buyers £lO 15s 6d; Wellington Trust Loan —buyers £6 12s 6d, sellers £6 17s 6d; Wellington Gas—sellers £ls ss; Union Steam Ship Company —buyers £2 2s (ex div.); CM. Banks (Ltd")—sellers £1 4s (ex div.). OHEISTCIIURCH STOCK EXCHANGE. CHRISTCHUCRH, January 8. The following are to-day's quotations:— New Zealand Government debentures, £99 15s; National Bank (ex div.) —seders £5; Stockton Coal —buyers 6s sd; Stockton Coal (8 per cent, preference) —buvers 10s 6d, sellers lis 3d; Christclrureh Oas —sellers £7; New Zealand Insurance —sellers £1 2s 6d; New Zealand Refrigerating Company (£lO paid)—buvers £2O; Kaiapoi Woollens—buyers £6 ss, sellers £6 10s; Mason, Struthers (£1 paid)—buyers £1 2s 3d ; New Zealand Farmers' Cooperative —buyers £2 7s 6d; New Sylvia—buyers 6d. LONDON SHARE MARKET. LONDON, January 2. Bank of Australasia, £lll 10s: Bank of New South Wales. £35 lGs : National Bank of New Zealand, £4 15s (ex div.); Bank of Now Zealand 4 per cent, guaranteed stock, £3l lis 3d; New Zealand loan debentures, £69, ordinary £B4 (ex dividend). January 4. Waihi.—Buyers £1 13s 9d, sellers £1 15s. January 6. Union Steams—Buvers £2 3s, sellers £2 6d.