MINING

Otago Witness, Issue 3327, 19 December 1917, Page 26

MINING

WEEK'S MINING NEWS December 12. Mr Dunn, acting-warden at Pdrt Douglas, has forwarded to the Queensland Department of Mines a report on the recent discovery of a wolfram lode in that district. The country where the mineral has been discovered is unsurveyed and hitherto unprospected, comprising dense tropical scrub on the eastern slope of the main coastal range at the head waters of the Little Mossman River. There is no access to the country except by tracks cut by prospectors. The distance estimated is 12 miles from Mossman, 24 miles by road from Port Douglas, and 12 miles south of Mount Molloy. Mr Dunn states that ho had obtained specimens, and had_ sent them to Brisbarie for assay. The original prospectors are very optimistic, and estimate that there are at least three square miles of metalliferous country in the locality. December J. 3. * The'Rise and Shine No. 1 dredge had a very steady run last week, but the ground in the west corner of the cut continued too deep to be workable, and a clay bottom on the other side carried no wash.- The No. 2 dredge also had a, steady week's work. The bottom, which was got at an average depth of 33ft, was of soft blue reef, with very little gold on it. The dredge is working ahead towards a point where clay bottom is indicated, and will probably reach it at the end of the present week. December 14. The Talisman Consolidated Company during November crushed and treated 1150 tons of ore for a return of bullion valued at £12,219 7s 3d. Compared with the returns for tho corresponding period of last year, when 1400 tons yielded £7608 3s sd, this shows an increase of £4611 3s 10d. The total bullion won from the mine to date is £2,768.072. The costs for tho past month totalled £4 9s 6d, made up as follows:—Mine development, £1 5s 4d; mining, £1 9s Bd'; milling, £1 7s 3d; general expenses, 7e 3d. December 15. The secretary of tho Nokomai Hydraulic Sluicing Company reports that a wash up was made at No. 2 claim, the result being 270 z 14dwt. No. 3 claim also had a wash up for a return of 3240 z 12dwt. The operations of the Broken Hill (New South Wales)_ Proprietary mine for the first four weeks since the strike, that is, up to November 14, are officially reported as follows: —Underground—l3,4s2 tons of crude ore were raised, including 1784 tons silicious material. The pumping of w 7 ater, which accumulated during the strike, was carried on continuously, and the water is now down to 90ft, below the 1300 ft level. Tho ore dressing mill treated 12,515 tons crude ore and 4707 tons tailings, producing 2103 tons lead concentrates and 2503 tons slimes. The zinc separation plant produced 5424 tons zinc concentrates, assaying 46.53 per cent, zinc, 6.01 per cent, lead, and 13.530 z silver per ton. At slime flotation plant. good results were obtained during the period. The plant produced 1343 tons lead concentrates, assaying 9.17 per cent, zinc, 61.51 per cent, lead, and 84.850 z silver and 3225 tons zinc # concentrates, *assayin.g 49.80 per cent, zinc, 3.91 per cent, lend, and 14.500 z silver. The Waihi Grand Jifhction return for the month ended on November 25 was £15.389, from 9920 tons, as compared with £17i375' from 10,020 tons for the same period last year. December 17. There was no wash-np on either of the Riso and Shine Company's dredges last" week. The Rising Sun return last week was 340/. I3rlwt for 129 hours. The Nokomai Hydraulic Sluicing Com-

pany has. declared a dividend of Is 6d per share.

Aecordin.tr to reports from Mexico, further large petroleum deposits have recently been discovered in that country. Surface indications point to many square milea of oilbearing territory. Mexico already produces a huge quantity of oil, as may be judged from the fact that for the first six months of this year 22.140,876 barrels of petroleum were exported from that country. A dividend of Is per share, the third declared by the present company, is now being paid by the Talisman Consolidated (Ltd.). The payment will absorb £17,250. and will bring the total dividends and bonuses paid emco the original reconstruction of the late company to £1,099,221 17s 6d. At present 'there are 1312 shareholders on the colonial register, owning 269,136 shares. The proportion of the present dividend < to bo distributed amongst these colonial shareholders will, therefore, total £13,456 16s. DUNEDIN STOCK "EXCHANGE. Business has been quiet on, the local share market during the present week. Waihi shares have shown little fluctuation in price, being in demand at £1 16s 6d, with a margin of Is between buying and selling quotes. Waihi Grand Junctions have not been so steady. There was a buyer on Friday at 15s 3d and a seller at 15s Bd. Talisman Consolidated) shares have shown a firming tendency. There was a sale on Thursday at 9s 6d, and the shares were on the market on Friday at 10s. There has been a wide market in Consolidated Goldfields, which have been quoted at 4s and 6s, buyer and seller respectively. In the dredging market quotations have been confined to Electric shares at the 'usual prices. National Banks have been wanted at £5 5s and on offer at £5 Bs. Bank of New Zealands have not been very frequently quoted. There was a buyer of" the old issue on Friday at £l2. and a seller at £l2 ss. The new issue has been on offer at £l7 58, with an occasional buyer at £l7 2s. Insurance shares have been quiet. Standards have been on the market at £2 Is without attracting any offers, and there was also a seller of National Insurances on Friday at £3. New Zealand 'insurance shares were in demand at £7 17s, but no seller camo forward. There has been an uncertain demand for ordinary Huddart-Parker shares, which were sought when the market closed on Friday at £1 12s 7d with a seller at £1 13s. Union Steam pref. shares have been wanted at £1 Is 6d. A parcel of ordinary West-port-Stockton shares changed owners on Tuesday at 9s Id. There was no buyer of these shares on Friday, but there was a seller at 9s 2d. Westport Coals have been in firm demand at £1 9s with sellers asking up to £1 iOs. Perpetual Trustees shares firmed on Friday, when a buyer offered £1 4s 9d for them, but there was no seller. New Zealand Paper Mills continue firm at recent prices, and New Zealand Drug shares have boon souarht at £2 10s without sellers. Woollen shares have received very little attention. There was an offer of £1 9s on one ' occasion for Oamaru" Woollens (ox div.), but sellers wanted £1 10s. Rise and Shine shares were in demand on Saturday at 19s 6d and on offer at fil.ls 6d. There was no demand for mining shares. Waihis were on the market' at £1 17s 6d, and Grand Junctions at 15s 9d. There was a seller of Talisman Consolidateds at 10s and of Mount Lyells at £1 9s 6d. Consolidated Goldfields and Progress Minea were also on offer at 6s and 5s 9d respectively. National Banks were even with recent prices. There was a buyer of New Zealand Insurance shares at £7 17s 6d, but no seller. Ordinary Hud-dart-Parkers were wanted at £1 12s 6d, with a seller at £l 12s 9d. December 16.—Bank of New Zealand Told), £l2. t The following are Saturday's latest quotations, subject to the usual brokerage: Dhedging Stocks. Electric —Sellers 2s. Rise and Shine —Buyers 19s 6d, sellers £1 Is 6d. Mining Stocks. Consolidated Goldfields—Sellers 6s. Progress Mines of New Zealand—Sellers 5s 9d. Talisman Consolidated —Sellers 10s. Waihi—Sellers £1 17s 6d. Waihi Grand Junction —Sellers 15s 9d. Mount Lycll—Sellers £1 9s 6d. December 11. —Wostport-Stock.ton (ord.), 9s Id. Sale reported: Wellington. Woollen (ord.), £6 165.. December 13.—Talisman Consolidated, 9s; .Bank of New Zealand (old), £l2. December 14: D.I.C. (pref.), £l. WELLINGTON STOCK EXCHANGE. WELLINGTON, December 15. The following sale was reported on 'Change to-day:—Kaiapoi Woollen (ord.), £6 17s 6d.