WEEK'S MINING NEWS

Otago Witness, Issue 3352, 12 June 1918, Page 22

WEEK'S MINING NEWS

June 5. The Waihi Gold Mining Company during the period ended May 18 crushed and treated 15,635 tons of ore for bullion valued at £26,724. Compared with the return for the corresponding period of last year, when 10,007 tons yielded £27,483, this shows a decrease of £764. The total amount. won from the mine to date is £11,964,777. Dividends, etc., declared to date total £5,028,522. For the period ended May 18 the Waihi Grand Junction Company treated 7290 tons for bullion valued at £11,674, compared with 9720 tons, yielding £17,424 last year. June 6.

The Waiotahi Gold Mining Company has crushed and treated 27 tons of ore for a return of 113 oz lOdwt of melted gold. Tho value of this is about £295.

There are at present on the colonial register of tho Waihi Gold Mining Company 2230 share holders, owning 196.669 shares, and tho amount of the recent dividend for distribution among them is £9833 9s. The following information has 'been cabled to the London office of the company:—No. 10 level: On the north section the Empire lode has been crosscut 50ft east of the Coy,' south-east crosscut. r Tne first 4ft assays 15s lid per ton. It has ako been crosscut 50ft west of the Cow crosscut. The first 2ft assays £5 6s 3d per ton, the next sft is country rock, the next 6ft assays 4s Bcl per ton.

The gold returns from the Auckland district mines during May amount to a total of £78,303 10s 4d. Compared with the output for May, 1917,. £73,073 5s 4d, this shows an increase of £5235 ss. Details of the past month's returns from the Oliinemuri iield are:—Waihi Company, 13,915 tons. £25.085; Waihi Company. 16.635 tons, £26,724; Talisman Consolidated Company, 1400 tons, £11,412 10s; Waihi Grand Junction Company, 5310 tons, £9601 Os 4d; Waihi-Paeroa Company, 20,300 tons tailings, £4750. Tho following crushing returns for May are reported from the Consolidated Group of Ooldfieds:—Progress—crushed 1282 tons, value £1863, working expenses £1945, capital £49, development £404; Blackwater—crushed 3227 tous, value £6552, working expenses £3632, capital £ll3, development £221; Wealth of Nations —no oro milled, gold won from cyanido £SOO, working expenses £56, capital £177. June 7. The Rise and Shine No. 2 dredge worked a cut oi 300 ft last week, making 18ft ahead. The ground deepened on the cast, but was a little shallower on the other side. Fair prospects were got in different parts of the cut on a bottom chiefly of soft clay, with a little white sandstone. Tho wash had become very tight. Tim secretary of the Nokomai Hydraulic Sluicing Company reports that No. 2 lost six hours' sluicing through a valve pipe burstiug in tho syphon. The ground in this paddock is hard and stony. No. 3 had a full week's sluicing, and good progress was made. The Whangarei Cinnabar manager reports: Really good oro is being obtained, and there is a good supply stored in the oro shed. By tho end of the week it is expected that'they will be holed through to Holder's working. The other incline has been pushed ahead, and it is intended shortly to open out and"start stoping on the ore ~ There has been a good week on the charcoal. Juno 8. Tho Mount Lyell Mining and Railway Company's converter returns for the two four-weekly periods, ended on April 10 and May 8, compare as follows, the figures for the earlier period beins; those in parcntheBns: _Oro treated, 16,961 (15.899) tons, comprising Mount Lyell ore 11,340 (10,625) tons. North Mount Lyell 5107 (4775) tons, concentrates 514 (499) tons. Blister copper produced 383 (437) tons, containing 379 (431) tons copper, 23,606 (24,309) ounces silver, and 506 (457) ounces of gold. June 10. The Riso and Shine No. 2 dredge obtained 270 z 3dwt for 134 hours' dredging. Compared with the return for the corresponding period of last year, when 9630

tons realised £13,060 6s 7d, the Waihi | Grand Junction return for the period ended I May IS hist shows a decrease of £0335 13s" lid. The total amount won from the mine to date is £1,693,004 16s lid, and tlr amount paid in dividends, etc., £260.003. June 11. A Press Association telegram from Auckland states that the Talisman return for May was £10,232 from 1520 tons of stone. NOKOIYI.U FYTYR \T7LTC SLUICING COMPANY. The twentieth annua! report stales that the year's operations were fairly satisfactory, considering the conditions under which work had to be carried on, T 2 per cent, having been paid in dividends. No. 1 elevator was again idle during the year. No. 2—Floods during tho year twice filled up paddocks at this claim, causing considerable loss of sluicing time, and only 11 peddocks. producing 831 oz 9dwt, were got out as against 17 paddocks for 17720 z 13d wt for tho previous year. No. 3. —Having finished in the gorge, the plant was removed to Victoria Gully, where five paddocks were completed, returning loosoz lOdwt. The total amount of gold obtained during the year was 18940 z 19dwt, value £6997 0s 6d. The retiring directors (Messrs John Peterson and John Craig), and the auditor (Mr R. T. Wheeler) offer themselves for re-election. DUNEDIN STOCK EXCHANGE. There was no sitting of the Exchange on Monday, and the week generally has been a quiet one In dredging .stocks Electrics are stiil regularly quoted at lOd and Is for buyers and sellers respectively. Rise and biunes are offered at 15s, and Rising Suns at lis, without attracting buyers. In nailing stocks Consolidated Goictlields are on otter at 5s 6d. Talismans are a shade firmer. On Tuesday they changed hands at 8s 6d, and on .Friday 'they were sold at bs oil. Wuihis are wanted at £1 lbs 6d and offered at £1 17s 6d. There is Is between buyers and sellers of Grand Junctions, which are on the market at 14s. Mount Lyells are in demand at £1 9s, holders asking 6d more. In investment stocks National Banks were sold on Thursday at £5 ss. On Friday they were offered ar. ijo 6s. without response. Bank oi iNcw Zealands (£3 6s Cd paid) are sought for at £l2 4s. and offered at £l2 Bs. A parcel of National Insurances changed hands at £2 18s 9d on Friday. Standard Insurance are inquired for at up to £2 Is, but no sbarca are offering. Ordinary Huddart, Parkers were sold on Tuesday at £l_ 19s Sd, but have since declined. On Friday they were offered at £1 19s 4d, the best buying quotation being £1 18s 3d. Business was done in Wostport Coals on Thursday at £1 9s 6d. On Friday buyers were offering .■til 9s and sellers asking jA 9s 9d. West-port-Stocktons have been attracting some attention, and parcels changed hands on Thursday and Friday at 7s lOd. ■ Dominion Rubbers have been inquired for at £1 6s, holders asking £1 8s 3d. There is Is between buyers and sellers of Refrigerating Company stock, which is offered at £2. Milburn Limes are to be had at £1 8s 6d. buyers offering Is 6d loss. Mosgiel Woollens arc inquired for at £4 15s, and National Mortgages at, £4 2s. Paper Mills were sold on Tuesday at £1 Os 9d, and there has since been a steady demand at that price, w.ith sellers at £1 Is 6d. Otago Daily Tiines shares arc wanted at £2 12s, and offered at £2 15s. There are buyers of ordinary Oamaru Woollens at £1 10s, of Perpetual Trustees at £1 5s 9d, of Bruce Woollen Mills at £1 10s, and of Goklsboro Mort at £2 10s, but in each case there are no disclosed sellers. M'Lcod's Soap were sold on Friday at £l4 15s. A sale of Electric dredging shares Was reported on Monday at Is, but there were no quotations in the afternoon. Waihi Grand Junctions are a good deal easier in price, being sought at 13s 3d and on offer at 13s Bd. There were buyers of Bank of New Zealand shares at £l7 10s and £l2 5s for the new and old issues respectively, but sellers were scarce. Huddart-Parkers had a buyer at £1 18s 7d, and a seller at £1 19s 3d. National Mortgage scrip had inquiry at £4 2s. and New Zealand Drugs at £2 13s, but there were no sellers. Papuan Products were on tho market at 2s Bd. , , , The following arc Monday s latest quotations, subject to the usual brokerage:— Mining* Stocks.

Talisman Consolidated —Buyers 8s 7d, sellers 9s. , Waihi—Buyers £1 16s 6d, sellers £1 17s 9d. Waihi Grand Junction —Buyers 13s od, sellers 13s Bd. Mount Lyell—Buyers £1 9s, sellers £1 9s Bd. Juno 4.—New Zealand Paper Mills. £1 0s 9d. Sales Reported.—Huddart-Parker (ord.), £1 18s 9d; Talisman Consolidated, 8s 6d. June 6. —Westport-Stockton (ord.), 7s lud ; Westport Coal, £1 9s 6d. Sale reported: National Bank, £5 ss. June 7. —Talisman Consolidated, Ss 3d; M'Leod Bros., £l4 ss; National Insurance, £2 18s 9d; Westport-Stockton, 7s lOd (two parcels). Juno 8. —Dominion Rubber, £1 Bs. Sale Reported: National Insurance, £2 18s 9d. June 10—Huddart-Parker (ord.), £1 18s 9<i. Sale Reported—Electric, Is. CHRISTCHURCH STOCK EXCHANGE. CIIRISTCHURCIL June 10. The following business was recorded on 'Change to-day:—Sales: Taupiri Coal, 18s; New Zealand Refrigerating, £2: Kaiapoi Wocller, £7. LONDON SHARE MARKET. LONDON, June 4. Bank of Australasia. £120; Bank of New South Wales, £34 17s 6d; Bank of Victoria, £7; Union Bank. £SB 15s; National Bank of Australasia. £5 ss; National Bank of New Zealand, £5 17s; New Zealand Loan, £63 10s (prof.), £IOO 5s (ord.).