MINING.

Otago Witness, Issue 3331, 16 January 1918, Page 22

MINING.

WEEK'S MINING NEWS January 9. . The Talisman Consolidated Company during December treated 1030 tons of ore for bullion valued at £11,340, making a total for the year of £139,320 13s, compared with £83,231 14s in 1916. The total amount won from the mine is £27,794 4s. The Waihi-Paeroa Gold Extraction Company's third dividend of Is per share on the 25,000 shares issued will absorb £6250, and will bring the total amount disbursed to shareholders in dividends to date to £18,750. The yield of gold of Victoria for November was 19,1850 z gross, or 17,8710 z of fine gold, valued at £75,912. This showed a decrease of 42580 z of fine gold as compared with the yield for November of last year. The return for the past 11 months was 202,7310 z gros3, or 188,4810 z of fine gold, valued at £789,585. Compared with the quantity won during the corresponding period of last year a decrease of 45,4150 z fine had occurred.

Particulars of the gold production in the Transvaal for September, and the first nine months of last year, are as follows, the corresponding figures for the samo periods in 1916 being; added in parentheses:—September: Ore milled, 2,245,097 (2,418,794) tons; gold won, 738,231 (771,567) .fine ounces, valued at £3,135,807 (£3,277,408); average value of stone milled, 6.48 (6.29) dwt, or 27s 6d " (26s 9d) per ton. Working costs. £2,178,548 (£2,191,820). or 19s 5d (18s 2d) per ton milled. Working profit £869,683 (£994,047), or 7s 9d (8s 3d) per ton. Dividends paid, £140,461 (£204,567). Nine months: Ore milled, 21.147,322 (21,826,172) tons; gold won, 6,825.664 (6,945.671) fine ounces, valued ~at £28.993,577 (£29,503,334); average valuo of stone, 6.39 (6.29) dwt, or 27s 2d (26s 9d) per ton. Working costs, £20,195,335 (£19.856,047). or 19s 2d (18s 3d) per ton. Working profit, £8,045,106 (£8,846,389), or 7s 7d (8s Id) ner ton. Dividends paid, £3,509,075 (£3,94"8,970).

January 10. The Rise and Shine No. 1 dredge recommenced work on January" 2. The ground continued deep, with a stiff clay bottom carrying no wash. The cut is being extended to the westward, where it is hoped to get better ground. No. 2 dredge continued to open out ground of an averago depth _of 30ft. Better-looking wash, carrying fair prospects, was coming in on a bottom of soft rod reef. Tho mineral exported from Broken Hill for the three months ended June 30 was 182,563 tons, according to official figures, and for the quarter ended September 30 92,656 tons. Tho strike was the main cause for the decreased output. Details for the two terms were: Quarter ended June 30—Lead concentrates, 67,568 tons; zinc concentrates, 94,831 tons; carbonate ore, 10,164 tons. Quarter e?jded September 30 —Lead concentrates, 39,413 tons; zino concentrates, 48,839 tons; carbonate ore, 4404 tons.

Another remarkable yield is reported from tho Dark Horso lease, near Broad Arrow (W.A.), tons of stono taken out while shaft sinking having yielded 5070 z of gold, worth about £3 17s per ounce. Sands and slimes have yet to be treated, and are estimated to be worth lOoz per ton. The shaft is now down only 20ft. The find was made a couple of months ago by prospectors, who, after taking out £IOO worth of gold, sold the property to a Kalera-r.-iie syndicate for £ISOO. A previous return gave 2940 z, valued at £lll6, from 7cwt of stone. Tho present valuation of tho propertv at Kalgoorlie is £IO,OOO. During the three weeks ended Dooember 31 the AVaihi Grand Junction Company treated 68S0 tons of ore for a return of £12.045, makiEC- S total for the year of £203,918, GQZBOM With £311,107 in, 191&

January 11. Tho gold yield of the Edna May mine, Westonia (W.A.), for the half-year ended October 31 was less satisfactory than hitherto, though there is ground for hoping- that the impoverishment of tho stone is only temporary, and that development work now in progress may not only increase tho tonnage, of reserves, but also disclose stone of higher grade than that lately handled. The battery dealt with 13,092 tons during the half-year, as compared with 17.683 tons in the previous term, and with 18..569 tons in tho October term, 1916, for a mill yield of 12,7990 z, against 15,9200 z in April, besides which 24.335 tons of sands gave 3288 oz, as against 42290 z from 23,836 tons in April, so that the total gold produced was 16,0870 z, compared with 20,1490 zin the previous term. The average value of the ore is given as 14.14dwt, whereas in April it was 18dwt. The costs, however, were only 52s lOd per ton, as compared with 34s Id in April. Naturally the net profit was reduced, and amounted to only £28,096 as against £38,960 in April. The rate of dividend,, which stood for so long at 3s per month, has been reduced to 2s, and the amount distributed was £27,81)2, instead of £38,565 a/s in the two preceding halfyears. The company has now orushed 140,064 tons of ore for a return of 124,7170 z gold from the battery, of a value of £502,588, and 121.820 tons of sands and slimes for £78,184, a total of £580,772, and an average value of £4 2s 11.15 d per ton of ore treated. The ore reserves are estimated 50.393 tons, worth 64s 4d per ton, as compared with 43.450 tons worth 73s in April, and with 35,393 tons, worth 80s in October, 1916. The general manager, Mr M. T.. Williams, proposes to open up the main lode at tho 480 ft level and to extend the workings in the shallower levels, whore it is considered profitable prospecting work may well be anticipated, though at the 85ft level, where the ore body has been driven on for 25ft and averages about 4ft thick, tho value is only about 12dwt, and in a winze which is down 29ft, the reef is 3ft thick and worth about sdwt, Still Mr Williams does not dcepair of coming across more profitable stone as the work proceeds. The balance 6heet shows stores on hand worth £5326 and sundry debtors owe £455. The debts include £2668 to sundry creditors, and there is an overdraft of £1555, against wdiich, however, the company has bank credit balances of £7700. A gold nugget -weighing 3£oz was found by Mies Melba Sargison, of Wellington, in the vicinity of the Howard goldfields, 18 miles from Glenhope, in the Neleon province. January 12. During December the Waihi Company crushed 18,876 tons of ore for a return of £30.613, making the total for the year 191.742 tons, yielding £330.482, compared with £371,520 in 1916. The apparent decrease of £41,038 will probably be compensated for when the corrected returns giving the actual amount realised are available. In the valuation of bullion at tho mine, silver is always taken at 24d, whereas the present London market rate is January 15.

A commendable example of State enterprise is furnished by the Tasmanian Government's scheme for developing 40,000 h.p. from the King River, principally to supply power for the Mount Lyell and Mount Head and Roseberry companies for the electrical treatment of ores which could not , otherwise be worked. Preliminary work* In order to thoroughly investigate the whole scheme is now going on, the Tasmanian Parliament having voted £IO,OOO for this work.

January 15. The return from the Olrig dredge for last week was soz 6dwt.

The Talisman Consolidated (Ltd.) during December crushed and treated 1030 tons of ore for a return of bullion valued at £11,340 6s 3d. Compared with the return for tho corresponding period of 1916, when 900 tons yielded £11,096 12s 3d, this shows an increase of £243 14s. The return now to hand completes the figures for the past year, and makes the valuo of the total bullion output £139,320 13s Id. Compared with tho total value of the bullion won in 1916—namely, £83,231 14s 2d, this shows an increase of £56,088 ißs lid. The costs for the past month totalled 77s 6d per ton, as follows: —Mine development, 20s id; mining, 24s lOd; milling, 24s 6d; general, 8s Id. The total amount won from the mine to date is £2,779,414 6s 4d, and the total dividends, etc., paid to date amount to £1,099,221 17s 6d. The following is a copy of a cablegram forwarded to the London office of the company : "No. 15 level, south drive: Progress, 24ft; width of reef. 54in; no values."

The Waihi Grand Junction Gold Mining Company crushed and treated in the three weeks ended December 31, 68&0 tons of ore, for a return of bullion valued at ±112,045 7s 6d. Compared with the return for the corresponding period of 1916, when 9700 tons yielded £17,558. this shows a decrease of £5313. The present return completes the figures for tho past year, and makes the value of the total bullion output for the 12 months £203,917 13s. This, compared with the total output for the previous year — namely, £211,107 2s lid, shows a decrease of £7189 9s lid. The total amount won from tho mine to date is £1,641,591 2s 2d, and the total dividends paid to date amount to £240,000. CONSOLIDATED GOLDFIELDS RETURNS. GREYMOUTH, January 9. Tho Consolidated Goldfields returns for December are as follows: Progress: Crushed 1400 tans, value £8136, working expenses £lslß. development £337. Elackwater: Crushed 2318 tons, value £15,351, working expenses £2752, development £576. Wealth of Nations: Crushed 940 tons, value £1451, working expense? £11?8, development £260. numnivn p P'T'rtj v.q

DUNEDIN STOCK EXCHANGE. A fair amount of business has been transacted during the past week on the Dunedin Stock Exchange, which re-opened after tho holidays on the 7th inst. New Sylvia mining shares have firmed, advancing from 4d to 8d for buying quotes, but no sellers have been in evidence. Waihi shares and Waihi Grand Junctions continue in firm demand, with a fairly wide margin between bujere apd sellers, Talismans are even with

recent prices, and Mount Lyells ha.vo been wanted at £l 6s 6(1, with sellers at £1 7a 9d. Bank of New Zealand shares (new issue) have been on the market at £l7 ss, and the old issue has been wanted at £l2. National Banks have had an occasional buyer at £5 2s. Insuranco shares have been in iirm demand., but sellers have been seaj-e-o. Nationals have had a buyer at £2 18s, and New Zealand Insurances at £7 18s, but no sellers have been attracted. Standards have been wanted at £2. and there was also a buyer of South British Insuranco snares on Friday at £5 13s 6d. HuddartParkors have been the medium of a little business at £1 12s 6d, and when the market closed on .Friday the shares stood at £l 12a 6d. and £1 12s 9d, buyer and seller respecWestporfc Coals have been in firm demand at £1 10s, and on offer at £1 10s 6d. There has been a pood demand for ordinary Westport-Stockton shares, of which several parcels have changed owners at 9s Id. There was a buyer at that price, with a seller at 9s 2d on Friday, but no business resulted. Dalgcty shares, which firmed sharply towards the end of the yo&r, # have been Wanted at £B, without a seller. A sale of New Zealand Pamper Mills was transacted on Wednesday at 19s, and another sale was reported at this price on Friday. Perpetual Trustees have firmed considerably, and sales took place at £1 5s 6cL Woollen shares are firm in price. Rise and Shine shares were on the marked on Monday at £1 Is 3d, and Rising Suns at 17s 6d." Consolidated Goldfields and" Progress Mines were both in demand at ss, but there were no sellers. Waihis were en offer at £1 18s, without a buyer. National Insurance shares had a bu3 T er at £2 18s, but no seller. There was a buyer of ordinary, Huddart-Parker shares at £1 12s 6d, and a seller at £1 12s 9d. *" The pref. issue was wanted at £1 0s 6d, and on offer at £1 Is. Coal shares were firm. National Mortgage shares were sought at £3 18s 6d, but no seller came forward. The following are Monday's latest quotations, subject to the usual brokerage: Dredging Stocks. Rise and Shine —Sellers £1 Is 3d. Rising Sun—Sellers 17s 6d Mining Stocks. i Consolidated Goldfields —Buyers 55.. Progress Mines of New Zealand—Buyers ss. New Sylvia—Buyers 7d. Talisman Consolidated —Buyers 9s Bd, sellers lis. Waihi—Sellers £1 18s. Waihi, Grand Junction- —Bu3 T ers 15s sellers 16s 6d. January Q. —Huddart-Parker (ordinary), £1 12s 3d. Jan. 9. —Westport-Stockton (ord.), 9s Id %' New Zealand Paper Mills, 19s; Perpetual Trustees, £l 5s 6d (two parcels). Sale Reported.—Oamaru Woollen (ord.)* £1 10s 6d January 10. —Westport-Stockton (ord.), 9s Id (two parcels). ■ January 11.—Huddart-Parker (ord.), £1 12s 6d (three parcels). Sale reported : —New Zealand Paper Mills* 19s.

Oz. dwt. gr. Rising Sun, Cromwell 57 10 0 Rise and Shine No. 2, Cromwell. 195 hours 45 0 0 Rise and Shine No. 1, Oromwell, 215 hours ... 22 9 0 Total 124 19 0 nnvrnrv snYin rvpr n\' n v?