MINING.

Otago Witness, Issue 3313, 12 September 1917, Page 22

MINING.

WEEK’S MINING NEWS

September 5. The secretary of the Nokomai Hydraulic Sluicing Company reports that a wash up was made at No. 2 claim, the result being 720 z for the paddock. No. 3 had a full week's sluicing, and good progress was made. There is plenty of water for both claims. Queensland's gold yield for June was 15,8590 z fine, valued at £67,365, representing a decrease of HlOoz fine, valued at £4715, comparod with the figures for the corresponding month of last year. The output for the first six months of this year was 86,985 fine 6z, valued at £369,489, showing a decrease of 29,8770 z, valued at £126,909 as compared with the first half of 1916. The dividends paid during the six months amounted to £113,856, representing a decrease of £50,315.

September 6. The Rise and Shine No. 1 dredge is making satisfactory progress towards the company's freehold, which should be reached in a few days. The No. 2 dredgo recommenced work on Tuesday week, and has been dredging away at an average depth of 35ft on a bottom of soft red clay. The wash is very tight, and the gold an even sample and of very dark colour. The Waihi Gold Mining Company on Saturday paid the ninety-seventh dividend of Is per snare, absorbing a total of £24,795 9s. There being at present on the colonial register 2246 shareholders owning 196,519 shares, the amount for distribution among them is £9852 19s. The mine has now yielded bullion valued at £11,671,548, and the total reimbursed to shareholders in dividends and bonuses to data is £5,310,685 6s 4d

The returns from the Auckland district gold mines last month totalled £62,737 13s lid, a 3 compared with £57,436 15s lid in August, 1916, an increase of £5300 18s. The details aro:—Waihi, 15,871 tons, £26,356; Waihi Grand Junction, 9720 tons £17,283 2s Id; Talisman Consolidated, 1560 tons, £12,648 19s 9d; Waihi-Paeroa, 13,700 tons tailings, £4850; Rising Sun. 170 tons, £B4O 13s 7d;—total Ohinemuri, £62,478 16s sd. Waiotahi, 35 tons, £258 17s 6d. September 7. In No. 1 level, south face, of the Golden Belt mine, the reef .is small, but the ore broken is being saved for treatment. The new drill is working smoothly, and will greatly facilitate driving operations. September 8. The gold yield of New South Wales for June was 61850 z crude, equal to 57700 z fine, valued at £24,507, as compared with 49310 z crude, equal to 43000 z line, valued at £18,263 for the same month in 1916. The yield for the first six znonths of this year amounted to 42,0730 z crude, equal to 39,5680 z fine, valued at £169,344, compared with 61,9900 z crude, equal to 48,4690 z fine, valued at £203,883, for the same period of 1916. showintr a decrease of 86020 z fine and £36,539 in value. There was a notable increase in the production of coal, silver, copper,, and tin from Transvaal mines during March, as compared with February, though, with the exception of tin, the January figures were not reached. The production of each, as compared with March, 1916, was as follows last year's figures being given in parentheses :—Coal, ~sold, 538,722 (495,100) tons; isilver, 78,601 (85,133) fine oz; cooper ore. 1047 (1293) tons; tin ore, 255 (333) tons. The totals for the first three months of this year and last, similarly stated, wore:—Coal. sold. 1.544.060 (1,401,594) tons; silver, 236.283 (246.007) fine oz; copper ore, 2955 (3417) tons': tin ore, 748 (877) tons. Tho Waihi Gold Mining Company's return for the four weeks ended August 26 was £27,101. from 15,626 tons, as compared with £25,937 from 15,592 tons for tho same period last year.

September 10. The Rise and Shine No. ki dredge lust week obtained a return of 50oz Bdwt lor 130 hours' work. The Rising Sun dredge did not wash-up last week, operations having been interrupted by the breaking of the crank shaft. According to the return prepared by the Mines Department of Queensland, the value of minerals (other than gold, coal, and precious stones) mined in the State for the quarter ended June 30 was £712,£03, as against £716.778 for the corresponding quarter of last year. The- Cloncurry field holds pride of place in tlio value of production, the total value of its output being £344,885. Only the Chillagoo field produced molybdenite. During August the Talisman Consolidated Company treated 1650 tons, yielding bullion valued at £14,440, as compared with 1325 tons, yielding bullion valued at £7494, last ve«.i\

September 11. The return from the Olrig dredge last week was soz 17dwt. The annual report of the Victorian Secretary for Mines (Mr W. Dickson) shows that the gold yield, which in 1906 amounted to 834,7750 z gross, reached only 276,1880 z gross in 1916, 352,2 7 20 zin 1915, and 443,3470 z in 1914. The dividends from the principal goldfields for 1916 amounted to £98,570. Bendigo contributed £8875; Daylesford, £13,868; Ballarat, £4200; Bright Buckland, etc., £8480; Maryborough, £7600; Ararat, £27,000; Gaffney's Creek, £14,782; Beechworth, £6943; Maldon, £2500; and Castlemaine and Fryer's Creek, £3400. The number of men employed in gold mining was 8186, as compared with 8755 in 1915, and with 10,398 in 1914. The value of machinery employed in alluvial and quartz mining was £966,961, as against £1.490,304 in 1915; so recently as 1911 the valuation exceeded £2,000,000. The total amount of gold produced since its discovery in 1851 to the end of 1916 was 74,587,0750 z cross, equal to 65,869,4460 z fine, valued at £279,794,151. Dredging and sluicing produced 45,7240 z of gold (which at the rough average of £4 an ounce would be worth £194,896), and tin valued at £11,712. Special interest attaches just now to coal production in the State. The report shows the amount as: — Black: 417.183 tons, valued at the pit's mouth at £216,292, or 13s per ton. The State mine yielded 354,146 tons, value £173,839; Jumbunna, 31,792 tons, £21.589; Powlett North-Woolamai, 14,672 tons, £9865; Austral, 10,885 tons, £7870; Sunbeam (Coal Creek), 3813 tons, £2022; Cook and Co. (Coal Creek), 1875 tons., £llO7. To the end of 1916 the coal raised in the State was 6,853,794 tons, value £3,489,985. The other minerals won were: —Silver, 87460 z (fine), £1239; antimony, 12,382 tons, yielding 3259 tons of concentrates, £77,275; tin, 122 tons, £12,955 ; manganese, 85 tons, £3OO ; wolfram, from 15 tons won 12cwt, £100; magncsite, 30 tons, £9O; gypsum, 1853 tons, £1853; kaolin, 810 tons; phosphates, £1150; talc rock, 47 tons. New mining leases issued numbered 173, the total area being 7173 acres, rents and fees amounting to £754. Fifteen mining companies were registered, with a nominal capital of £129,150, and a subscribed capital of £105,520.

DUNEDIN STOCK EXCHANGE. The dredging and mining markets have been inactive during the week, Electrics being the only dredging shares quoted. Talisman Consolidateds havo been firm throughout the week, with a buyer at lis and a seller at 12s 6d. Waihis and Grand Junctions have been on the market without buyers. In investment shares Bank of New Zealands (new issue) have been in firm demand at £l7 12s, without a seller, and the old issue has been sought at £l2 ss, with sellers asking from 5s to 8s more. National- Banks were also quoted occasionally. Quotations for insurance shares have been chiefly confined to Nationals, which show little fluctuation in price. Standard and South British shares were quoted on one occasion only, and New Zealand shares were on offer on Friday at £7 15s. Huddart, Parkers were the medium of a little business on Tuesday, and a sale wa3 effected at the first call on 'Change on Friday at £1 13s 3d. These shares have fluctuated somewhat (during the week, and when the market closed on Friday there was a buyer at £1 13s Id, with a seller at £1 13s Bd. No business has been done in coal shares, which have not been very freely quoted. The. large and small issues of New Zealand Refrigerating stock continue firm, the former being on offer at £22 and the latter in demand at £5 10s. Woollen Company shares continue in firm demand, and were the medium of business on one occasion, when a sale of Mosgiel Woollen shares was reported at £4 15s. Other lines, such as Dominion Rubbers, Kaikorai Trams, Portland Cements, and Paper Mills, have been quoted oil several occasions, but show little activity. M'Gavin and Co. shares were on offer on two occasions, and New Zealand Malay Rubbers havo been in demand at 16s, but there were no sales in either case.

Both issues of Bank of New Zealand stock were on offer en 'Change on Monday, but no buyer came forward in either case. A sale of National Banks was reported at £5 3s. Ordinary Huddart-Parker shares were on the market at £1 13s Bd, but there was no buyer. There was a buyer of Westport Coal shares at £1 8s 6d, and a seller at £1 9s 3d. Kaiapoi Woollen shares (old issue) were in demand at £6 10s, with a seller at £7. Dredging and mining shares were quiet. _ There was a buyer of Talisman Consolidated shares at lis, but sellers wanted 12s 3d. The following aro Monday's latest quotations, subject to the usual brokerage: — Mining Stocks. Talisman Consolidated —Buyers lis, sellers 12s 3d. Waihi—Buyers £1 15s, sellers £1 15s 9d. Waihi Grand Junction—Buyers 15s, sellers 16s. Waiotahi —Buyers sd, sellers Is. September 4. —Huddart, Parker (ord.)—£l 13s lOd. September s.—Mosgiel Woollen, £4 15s. Sept. 6.—Waiotahi, 7d. September 7.—Huddart, Parker (ord.), £i 13s 3d. September Bank, £5 3s.