MINING.

Otago Witness, Issue 3397, 23 April 1919, Page 22

MINING.

WEEK'S MINING NEWS

April 16. The secretary of the Nokomai Hydraulic Sluicing Company reports that the men at No. 2 claim started to strip off the top material on Thursday, with two shifts. No. 3 claim had a. full week's sluicing witti two shifts. April 17. The Rise and Shine No. 1 dredge worked steadily last week; but there was no improvement in the character of the ground; though at the end of the week the bottom changed from white clay to one of a sandy nature. The dredge is now close to a point in line with which good returns were got some time ago. The No. 2 dredge worked at an average depth of about 40ft, and got soft blue-clay bottom in the eastern half of the cut, and red clay and coal in the other part. Fair prospects were got in the red clay, and the wash was much tighter than usual, with a great number of large stones. April 19. The Secretary of the Rise and Slime Company, reports: —The return of the No. 1 dredge was 12oz 3dwt for eight days' opening out, and for the No. 2 dredge it was 15oz 7dwt for three days' dredging. April 21. The manager of the Mount Lyell mines reports for the fortnight ended March 26: — North Mount Lyell mine: 925 ft level, No. 2 north drive to 530 ft in good grade ore* Reduction works: Two furnaces in blast during fortnight, 2803 tons of blister copper consigned to the refinery for the current year. WAIHI EXTENDED COMPANY. SALE OF THE PROPERTY. AUCKLAND, _ April 18. The shareholders in the Waihi Extended Company gave their consent yesterday to the sale of the property to a new company for £7500, subject to- a 10 per cent, brokerage, leaving £6750, which with cash and assets and after paying liabilities, wiil yield shareholders about 4s to 4s 3d per share. The Chairman explained that within the last three years the auriferous zone had been reached, and the directors were faced with a large expenditure, to obtain which it would be necessary.to reconstruct the company, and it was therefore decided to recommend the acceptance' of ihe offer. DUNEDIN STOCK EXCHANGE. The Dunedin Stock Exchange closed on Thursday for the holidays with the prices of most lines fairly well maintained. During the week business was fairly brisk, and a fair number of transactions were recorded on most days, especially in the investment stock section of the market. In mining stocks a fair amount of business was done in Mount Lyells, in the vicinity of £1" 3s 6d, and the closing prices on Thursday were £1 3s 7d (buyer), and £1 4s (seller). Several sales were also made in Waihi Grand Junctions at abou'i 13s, and the market closed with a further feller at the same figure rnd a buyer at 12s 6d. In the investment 6tock section a good deal of business seems to have been passing in National Banks, and also in New Zealand Refrigerating stock. Banking and insurance lines generally have been freely quoted, and a good number of investment lines seem to be attracting attention, the frequency of quotation indicating a fair amount of business. The following are Thursday's quotations, Mining Stocks. Talisman Consolidated —Buyers 7s 9d, sellers 8s 6d. Waihi—Sellers £2 3s. Waihi Grand Junction —Buyers 12s 6d, sellers 13s. Mount Lyell—Buyers £1 3s 7d, sellers £l 4s. April 16.—Mount Lyell, £1 3s 6d. CHRISTOHURCH STOCK EXCHANGE. CHRISTCHUROH, April 17. The following business was recorded on 'Change to-day:—Sale reported—New Zealand Refrigerating Co., £2 17s 6d (three parcels).