MINING.

Otago Witness, Issue 3514, 19 July 1921, Page 22

MINING.

WEEK’S MINING NEWS July 15. The- Mount Lyell progress report tor tiie fortnight ended. June 29, 1921, is as follows: Mount Lyell mine: No. 5 level, cutting piat and winch chamber of engine winze; No. 8 level, engine winze to 162 ft in chloritic schist. North Mount Lyell mine: Ore-breaking ha-3 been actively carried on. Reduction works: One furnace was in blast during the fortnight, 4046 tons of blister copper were consigned to the refinery for the current year. Concentrator: The picking plant operated 98 hours and put through 3837 tons of NoriLyell ore; 1236 tons of sorted ore were consigned to furnaces, and 2615 tons of reject ore and fines sent to the mill. The mill operated 2961 hours and treated 2921 tons cf ore, producing 435 tons of jig concentrates and 408 tons of flotaticn'concentrates. July 16. The Rise and Shine dredge was opening out on clay bottom in the western corner of the cut during the greater part of last week. The ground was very rough and stony. Some good-looking wash had begun to come in on the clay bottom, which extended over about half the width of the cut. The remainder is coal; but it is anticipated that this will disappear by the end of the present week. July 18. The master cf tile Rise and Shine dredge reports a return of 2-Ooz 14dwt for 137 hours’ work. The following report lias been sent by cablegram to the head office of the Waihi Grand Junction Gold Company, Ltd., London: No. 8 level: Mary lode—Breaking out the lode has advanced lift, making a total of 816 ft. Assays from 755 ft. to 800 ft averaged £-1 18s 3d over a width cf 76m. The walls aro exi>osed. No. 5 level: Mary lode—The drive cast has been advanced 20ft, making a total of S9lft. Assays from 870 ft to 89t)ft average £2 Is 4d over a width of 61in. The north wall is exposed. No, 6 level: Mary lode — No. 7 winze lias been advanced 24ft, making a total of 39ft. Assays from 15ft to 5811 average 11s Gd over a' width of 52in. Tin v.ahs are not exposed. No. 8 level: Empire lode—The rise on the lode in the 210 ft cast crosscut has been advanced 34ft, making a to‘al of 89ft. Assays from 51ft to 80ft average £2 16s 2d over a width of 13in. The south is exposed. Empire footwall lode Ihe drive west lias been advanced 22ft, making a total of 44ft. Assays from 35ft to 40ft average £3 9s 2d for a width of 5G:n. Inc south wall is exposed. No. 9 level: Too south-east crosscut has been advanced “ft. making a total of 50ft from the main shaft. DUNEDIN STOCK EXCHANGE. Bus mess has been fairly brisk during the week, and there is a firm, healthy tone about die snare market. In banking stocks Austia.asias have appreciated slightlv, being in demand on Friday at £34, with a seller at £B6 Bank of New South Wales had :« sale earlv n he week at £33 ss, but have since been in uAI fV Gc N d I ? usinM " !las been done i" *? ank of New Zealand share, at prices landing from 18s Gd to 48s. When the Exchange emsed on Friday the shares were on here wis no buyer. I ns.,ranee shares have received a fair pro- '“ r, o£ attention but little business lias rwsuLed. National Insurances changed ? “ ‘ n Monday at 61s 9d, but were" a • lay. bring on the market ": , 6d - standards have firmed slightly. p!u“ < ’i a,,T ' quoted about 60s. Huddart. shares been more active til n “ ; been bUS Frid“ d at a £3to fel C C ! iad 'f (b/refa^so^TlnS p-voral nnes show a firming tendonev Mil r : ! ' rws, whiVh Tohi Gact 7 f a,a t“ d , Ui,rd ' va 7 shares have also aG acted attention, and were secured In- a bn.er tor 12s 3d. Coal shares continue firm Westport Coals were bought on Fridav . t k ' ore 1 in ' , 26s 9d - with a seller T “ l- , ■ oyen.l other stocks have be-., free] > quoted from time to time nud in c ~ ? ! ?r d fir r w< _ r ’ • > , ■ ' 111 bum of business on one on > bavo since boon quiet Tiw U ‘i ■' ' ' ’ has : "A inactive, out eliows t value Talisman C’ „ but 8e,; ”" been « arce. Mount hjeLs are quoted from 1 4s (kt t , i.ss T|,„ lebenture market has slackened off -ince the ieginning of the week, and there is „o Imsivess to record. J'..y It : Bank of New South Wales. '*£3B Bank of Now Zealand, 4H* 6d ; National ' 61a 9d ; New Zealand l’arvi Mills > Is 2d, Is.

July 13. July 12.—Bank of New Zealand, 48s 3d; 48s; Huddart, Parker (ord.), 44s 6d (two); Milburn Lime and Cement, ‘2Ss (two); West-port-Stockton, 7s 9:1. July 12. —Standard Insurance, 43s 3d; Kaiapoi (10s paid), 12s 9d. July 14. July 13. —Huddart-Parker, 44s Gd. July 14.—Huddart, Parker, 44s Gd; New Zealand Hardware, 12s 9d. July 15.—Westport Coal, 26s lid (two); P. and O. (def.), £340. July IS. The week closed quietly on Saturday without adding to the total turnover. Insurance shares firmed, particularly Nationals, which were on the market at Gls. Both New Zealand and Standard were also sought at firm prices. Bruce Woollen had the usual inquiry at 44s without attracting a seller. There was a close market in one or two investment' lines, but no business resulted. Mining shares were inactive. The following are Saturday’s quotations, subject to the usual brokerage: Mi \'inc Stocks. Talisman Consolidated —Buy. 6s, sel. 6s 3d. Mount Lyell—Buy. 14s 8:1, sel. 15s 2d. Debentures. N.Z. Government War Bonds (4i per cent.), 1938 Buy. £B3. N.Z. Government War Bonds (4! per cent.), 1939 Buy. £B3. N.Z. Government Inscribed Stock (44 per cent.), 1938—Buy. £B3. N.Z. Government Postal (5 per cent.), 1927 —Buy. £9l. Soldiers’ Loan (bonds) —Buy. £9l 10s. Soldiers’ Loan (inscr.) —Buy. £9l 10s.