COMMERCIAL.
MOUNT LYELL MINE. (Received 16, 11.30 a.m.) Melbourne, May fG. The half-yearly report of the Mount Lyell Company states that the works treated 63,651 tons'of ore, which produced 1500 tons of blister copper, containing 1482 tons of copper, 102,4540 z of silver and 1858 oz gold. The strike in the first two months was responsible for the reduced figures. The output was also affected by the scarcity of labour since work was resumed. Operations had resulted in a net profit of £20,532. The cost, of the strike was ■shewn as_£73l7. The directors decided to utilise the water rights held by the company at Lake Margaut, seven miles distant from the works, for the purpose of electricity, supplying all current required. , They will povidcfunds for the scheme by the sale of a hundred thousand shares unissued in the capital of the company. The new shares will be offered at 25s to registered shareholders on May 27th, in the proportion of one to twelve held.
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Stratford Evening Post, Volume XXXIII, Issue 16, 16 May 1912, Page 6
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164COMMERCIAL. Stratford Evening Post, Volume XXXIII, Issue 16, 16 May 1912, Page 6
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