MINING REPORTS.

Thames Star, Volume LXIII, Issue 17761, 7 December 1929, Page 5

MINING REPORTS.

TWO COMPANIES’ YEARS.

NEW. WAIOTAHI’S EXPANSION,

OCCIDENTAL UNA’S PROGRESS.

The chairman of directors of the Occidental Una United Gold Mining Co., Mr Jas. McCormick, reports as follow: “The directors have pleasure in presenting the balance-sheet as at 30th September, 1929, together with their report on mining operations of the qompany.

The Mine.

“The work during the half-year has been carried out mainly at No. 5 level on the Occidental No. 2 reef. This reef is really a stockwork formation of quartz stringers intermixed with country rock, and averaging up to 10ft in width. Gold can be seen in the quartz which, after careful sorting, is crushed at the Karaka Creek battery. i - “Bullion realised £4Ol/11/3 during the period under review, but unfortunately we found that by no means all the gold wag being saved. The owners of the battery are ' now putting in a stone crusher and more berdans, so that in future a better extraction should be obtained. “Work is now confined to the hangingwall ' leader, a fine-looking reef about nine Inches in width, which should at any time make pickdd stone. “Working costs are very high, and your directors applied to the Govern-* ment for a subsidy to complete the Magnolia low level, which would obviate all haulage. The Government, however, declined to assist a legitimate mining venture, although in their wisdom they haye voted tens of thousands of pounds to local bodies for parks and playgrounds as relief works. : • [•;, •

Directors.

“In accordan.ee with the Articles of Association, Messrs J. H. Ensor and C. S. Donovan retire, but, being eligible, offer themselves for re-election. Auditor. The auditor, Mr E. J. P. Kennedy, also retires.” NEW WAIOTAHI G.M. CO. •' The chairman of directors of the New Waiotahi G.M. Co., Mr Jas. McCormick, reports as follow: “The directors have pleasure in presenting the balance-sheet as at 30th September last, together with their report on the mining operations carried out since the Issue of the last report.' ‘ - The Mine. “Very little work has been done in the mine during the period under review. ~ The shareholders gradually dropped out, until only 28,000 contributing shares remained productive, so your directors called members together. “About 10 acres of very promising ground was obtained on tribute from the Moanataiari Company, and it was decided to offer 70,000 forfeited shares at Id each, the result toeing that over 48,000 shares were applied for. •

“On trie advice of Mr E. F. Adams, mining engineer, Thames, who outlined a scheme, it is proposed to drive hillward through the Caledonia and Red Queen sections. This is a legitimate piece of work with quite a reasonable chance of success. “A contract was let and the crosscut is now about 100 feet into Moanataiari ground, the country being a nice mild andesite favourable for the existence of quartz. Air pipes have been put right up to the face, and ventilation is now good. Directors. “In accordance with the Articles of Association, Mr A. C. Rae retires, and being eligible, offers himself for reelection. Mr R. F. Perham was appointed to the Board. Mr W. S. Ralph retired from the Board to take up the position of secretary of the company in place of Mr E. J. F. Kennedy, who resigned to enter another position.’*

Auditor.

The auditor, Mr J. M. Elliffe, F.P.A, (N.Z.), also retires.”