MINING NEWS

Wanganui Chronicle, Volume 77, Issue 155, 3 July 1934, Page 11

MINING NEWS

TALISMAN-DUBBO ( Per Press Association. ’• AUCKLAND, July 2. A dividend of sixpence a share, equal to 10 per cent.., has been declared by Talisman-Dubbo Mines, Limited. This is the fourth dividend declared by the company, which is also offering 2800 shares at par to shareholders pro rata to their holdings. GOLCONDA HOLDINGS, LTD. [ Per Press Association. 1 AUCKLAND, July 2. The directors of Golconda Moldings, Ltd., have declared a first interim dividend of 10 per cent. WAIHI GRAND JUNCTION LONDON, May 24. The report of the Waihi Grand Junction Gold Co., Ltd., for the year enied December .1, 193, has been issued. Some 27,780 tons of ore were treated by Waihi Gold Mining Co., Ltd., and the amount received as a result of the treatment of this was £33.252. The sum of £2037 has been paid or reserved for income tax in London and New Zealand, and £3500 has been added to dividend equalisation account. Including ttia balance brought forward there is an available balance of £10,667. The directors recommended a dividend of 4<l per share, free of income tax, leaving £3761 to be carried forward. The tonnage crushed during the. year showed an increase of 230-5 tons, as compared with that for .1932, with an increase m receipts of £5BB. Development work to tile extent of 2259 ft. was carried out. A cross-cut was projected south-east from the eastern end of the property at No. 6 level, with a. view to locating tlie main Royal lode. Although numerous small veins were encountered, ths result was disappointI ing, and as the country rock proved unfavourable, exploration work has been stopped. The ore reserve amounts to 34,769 tons, valued at 27s 5d per ton. SKIPPERS LTD. In a report to the directors of Skippers Ltd. of the work on the claim to Juno 26, the consulting engineer (Mr. W. Morgan Gimson) states:—“The weather is still keeping in our favour, as we have not had any very severe frosts. The floor of the lirst paddock is looking more favourable, ami the north-east corner shows signs of better wash, so it is intended to concentrate our efforts for the moment on that portion. It is interesting to note that the wash is improving as we go further north-east as this portion of the paddock coincides with some, sections of piling which reached a depth of three to four feet more than the adjacent sets, which in itself indicated the possi bility of a depression in the main channel at this point.” Mahakipawa. Tbo Mahakipawa report for flic week ended June 27 is as follows:—Leading face has been advanced to 76ft south of No. 2 crosscut west through good grade wash showing gold freely. There is 3ft. of bottom in the face, 2ft on wash on top of this, then a layer of a sandy wash 2t't thick, with gravel on top of this again. Prospecting drive north was extended to 20ft in gutter wash on a failing bottom. The wash was of a promising appearance, but did not carry any values. This has been stopped. Addition shaft: Work has been commenced on the reconditioning and enlarging of the Alice l-’ell shaft. The water is standing at about 30ft. below the collar of the shaft, which appears to be in great condition, after being disused for approximately 35 years. The timber above water level has rotted but the ground is standing remarkably well, and the shaft is apparently intact for 90ft. at least, a plum-bob having been let down for this distance. CHARLESTON SLUICING I Per Press Association. 1 tVESTPOET, July 2. The Charleston Sluicing Company’« return for the fortnight ending June 30 was 240 z. 3dwt. for twenty-one shifts,