GOLD MINING

Wanganui Chronicle, Volume 79, Issue 201, 28 August 1935, Page 11

GOLD MINING

PRICE OF GOLD Received Aug. 27, 5.5 p.m. LONDON, Aug. 26. Price of fine gold per ounce, 139 s 10jd. WORKSOP EXTENDED The following is the Worksop Extended Gold Dredging Co., Ltd.’s, official return for week ending August 24: —Yield, 440 z; hours dredged, 135; yards dredged, 9600. MAORI GULLY RETURN The return of the Maori Gully dredge last week was 70oz 15dwt for 140 J hours. GOLDFIELDS DREDGE Owing to the Shotover River bci ig exceptionally low the Goldfields Dredg ing Co.’s dredge has temporarily ceased operations. The low river renders it impossible to keep the work ing face opened out safely, so the continuance of dredging would most likely leave the dredge stranded. Dredging operations will be resumed as soon a> the river rises. In the meantime, the staff is working part-time on minor re pair work. WAIPAPA BEACH GOLD DREDGE A return for the week ended Thursday of 40oz for 117 hours’ dredging is; reported by Waipapa Beach Goh: Dredge, Ltd. NEW GUINEA GOLD Received Aug. 27, 5.5 p.m. LONDON, Aug. 26. Sales of gold-mining shares include New Guinea, 5s 2|d. MOLYNEUX GOLD DREDGING CO. LONDON, Aug. 3. The first balance sheet of the Molyneux Gold Dredging Company-tn March 31 —shows an excess of cash and cash assets over current liabilities of about £73,000 and in addition £11,476 has been deposited with the local power board in Now Zealand. The property and plant are entered at £99,451, miscellaneous expenditure at £4373, and preliminary expenses al £20,425. The capital issued is £209,009 1 in 2s shares and 419,000 shares (bal ance of the authorised capital) arc under option at 2s 6d per share, until twelve months after the dredge starts operat ions. A dredge has been ordered’ (the report says) and is expected tn be operating before the end of the year. The company has entered into n con tract, with the local electrical powe; board on favourable terms and powei will be available when the dredge is completed. Drilling of areas on option has been in progress, and an add tional 313 acres have been retained Work on the property is slated te be well up to schedule. The shares are ipiol.ed round nboiil par.