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Latest Mining News.

WAI :i EXTENDED JUNE.

MGUODYOI'iiUE

FINE APPEABANCE IN FACE.

This morning our roprosontativj visited tlio Waihi Ex».ondeil mine, and procooded down the shaft to the 500 foot level. About midway botweon tlio shaft and tlio faco of tlio dcivo, at a point where tlio country is loose »nd brokon, several of tlio lituboi's scis have boon Btraiuod by the weight above, Yestorday morning somo of the timbers splintered and bulged out, Tlio position was serious, and the men wore immodiatoly takon oil work at tlio faco and ordered to put fresh limber in, At tlio timo of our reporter's visit a good deal of tho work of roplaoing tho timb or had boon dono; Altogothor about fifty foot of iholovol wasaft'octcd, Ths work will likely be finished by to-night's shift, when work will be rosuuiod in the faco. In oonseqnenco of tbis work having to bo taken in hand, tho lodo has only bee n advanced about two feet since our last visit to tho uiino. The last foot or two penetrated is even better in appearance than when the dircotors of tho company wore hero It is a solid mass of heavily uiiiiertilisud oro, and whatover the assays may be, it givos splendid promiso of de* voloping into soruotbing which will bo tho making of a groater futuro for Wnihi. We congratulalo Mr. Johns on tho still liner dovolopmont of tho roof, The reef up lo tho present timo is r lit'lo over 18 foot, The result of tho assay of ore taken by the directors from dilieront parts of the reef, which a! tho timo had penlrated for a distance of about 14 feet, including 11 foot 6 inches before striking the clay head, was posted on the Auckland Stock Exchange this morning. The values wore 'it, \h 9.1, and 2ii.« (id per ton. Tho i licet theso figures had on tho price of tlio shares was somewhat remarkable. Just before tho a'.jiiys wero made public the shares stood Hi lis ill and 103 2d, with plenty of buyers at the former price, and a scarcity of sellers at tlio lat.tor prico. Immediately on the assay value becoming known the sbnres dropped straight away to Bs, but they have since firmed somewhat, According to the-opinion of some of our locrl mining authorities iho value of tho ore is satisfactory, and (here is no need for tho shareholders to have any apprehension of tho future prospects of ihc mine, The fact of the stone having a value of 23s (id in what might be but tho cap of the reef is considered very good, This value was evidently obtained from the reef on the oilier side of tho slay head, which at the lime it Wis '.liken had only boon penetrated il foot six inches, and it has sinco been advanced another 2 feet G inches. We shall look forward with interest lo tho value of tho reef when the footwall is reached, MIGKLMD SHMEIHi.

To-dav's Noon Call. .Vr. It. (j. Mucky, slmrcbrokei', reports tho Auckland Stock Exchange ijuoiniioib at noon to-day as follow : SALES Tridc ot Waihi, Is 7d, Is ;U Talisman, 4s lid Extended, \h 'id, 10s, 8s 8s Jd • Golden Spark, i):l SKILKRS Kumuui, Id Ciilcdouuui, 'ld Alburnia, i)d Crown, lis (id Koniata, 2s 0,1 Prido of Waihi, Is 4d Talisman, 4s .04 Waihi, m Waihi Ucncli, 4.1 d Consolidated, Is lid Extended, 8s lid Junctions, Hit (id Waitckauri, lis Hunkers, Is 'Jd Freehold, yd Uani'iiki cont ls'id lIUY.-.1i." luirnniii, '2it 1 Oulnloniiui, i\ Albiiniiii, 4d Mitluti'ii, 2d CWHT., i"n lUll Koiinr.ii, 2s yd i'riilu of Wailii, Is 3d Tili.-inan, h Nil Waihi, £b 17s Ud W.nlii Bench, y.|,ii Consolidatud Is id Extended. 8j Id Junctions, 41s tii WaittdiitUfi, 2-HJ liiinkfi'sll/.d Froehold, 4}d Uatiriiki cunt. lO'd

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/WHDT19040805.2.36

Bibliographic details

Waihi Daily Telegraph, Volume IV, Issue 1059, 5 August 1904, Page 3

Word Count
633

Latest Mining News. Waihi Daily Telegraph, Volume IV, Issue 1059, 5 August 1904, Page 3

Latest Mining News. Waihi Daily Telegraph, Volume IV, Issue 1059, 5 August 1904, Page 3

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