MINING NEWS.

New Zealand Graphic, Volume XXI, Issue XXVI, 24 December 1898, Page 822

MINING NEWS.

SHAREMARKET. Several satisfactory returns were received during- the past week from mines both in Ohinemuri and Coromandel, but this did not result in much business being transacted on the Exchange, as the holiday season is now too near for buyers to operate with any chance of soon selling at a profit.' The return from the Talisman mine was once more a record one, totalling £ 4,041 17/9. Accounts from the mine itself are also very encouraging as to future prospects, but in spite of this shares eased a little in price, being offered at 11/9, without sales resulting. The N.Z. Crown Mines return also showed improvement this time, the total being £5.632. A small parcel of ore from the Tokatea Consols mine at Coromandel proved to be worth about £34 per ton. The Kapanga return was also larger, as well as the monthly yield from the Komata Reefs, which this time amounted to £ 1,705. An increased return from the Hauraki mine this month was due to the fact that the good ore was ineluded from the Union Beach section of that Company’s property. A few pounds of picked stone were obtained this week from the Bunker’s Hill mine, but it was not sufficient to cause shares to maintain the advance noted a week ago. Waihi shares had demand at better prices, buyers advancing from 80/ to 87/6. but holders asked 95/. Waitekauri shares also improved in price, 29/6 being offered without sales resulting. The Exchange closed on Saturday, the 24th, and will re-open at the expiration of the usual fourteen days’ vacation.

KOMATA REEFS RETURN. £1.705 FOR THE MONTH. The return for the past month’s operations in the Komata Reefs mine was very satisfactory, totalling £1,705, for which amount 4+o tons of ore were treated. KAPANGA RETURN. The month’s cleaning up yielded £B2O from 30 tons of quartz and 1031 b of picked stone. This shows considerable improvement. VVAIHI SILVERTON. £951 FROM 650 TONS. During the past month this company's battery was running 20 head of stamps for 26 days, during which period 650 tons of ore were crushed for a return of bullion valued at £951 4/6. At No. 4 level the lode has improved in both faces. At the battery experiments are being conducted with a view to adopting the wet process of crushing. HAURAKI RETURN. It is interesting to note that the return from this company’s mine for the past month’s operations shows improvement due to the fact that ore and picked stone from the Union Reach section were also treated. The details of the yield are as follows: — Hauraki section, 110 tons of quartz and 57 lbs of picked stone yielded 240 ozs 15 dwts of melted bullion of the approximate value of £712. I'nion Beach section, 11 tons of quartz and 122 lbs of picked stone yielded 199 oz 13 dwts of melted bullion, approximate value £605. Total returns £ 1320 BARRIER REEFS. .Meetings of shareholders in the Barrier Reefs Company were held this week in Mr H. Gilflllan’s office. .Mr H. Brett, chairman of directors, presided. The business was of a formal nature. At the first meeting the resolutions previously agreed to were confirmed re winding up the original company. The second meeting con-

finned the resolutions formerly passed anent the reconstruction of the company on the lines suggested by the directors. N.Z. CROWN MINES. £5632 FROM 2875 TONS. This company’s return for the past month shows improvement. The total quantity of ore treated was 2875 tons, which returned bullion valued at £5632. This brings the total output of bullion from this mine up to £47,848 for the present year, and altogether the bullion yielded by the Crown Mines now tots up to £185,952, and as the beds are now put in for another lot of stampers the returns should show still further increase next year. TOKATEA CONSOLS RETURN. £IBO FROM 5J TONS. The Coromandel Company obtained 64 ounces of retorted bullion, value £IBO, from the treatment of a parcel of 5J tons of ore. NEW ZEALAND TALISMAN. A RECORD RETURN. £4041 17/9 FROM 882 TONS. Another record has been established by the N.Z. Talisman G.M. Company. During the month the mill worked twenty-five days and crushed 882 tons of ore for a return of £4041 17/9. This is at the rate of £4 11/8 per ton of ore treated, and the return is a record one both as regards value of ore per ton and amount crushed. The returns for the year from this mine are as follows: —

A slight stoppage of work at. the Talisman Company’s battery occurred on Tuesday owing to one portion of a turbine breaking. The battery was only idle 12 hours.

WEEK’S Companies. GOLD BETURNS. s. d. Tons. Picked stone. £ N.Z. Crown Mines 2.875 5.632 0 0 N.Z. Talisman 882 — 4,041 17 9 Waih i-Sil verton 650 — 961 0 0 Hauraki 121 179 1,320 0 0 Kapanga 30 103 820 0 0 Tokatea Consols 54 — 180 0 0 Wyn yardton 30 — 22 0 0 Victoria tributers 7 — 23 0 0 Komata Reefs 440 — 1.705 0 0 Total £14,704 17 9

Tons £ s d January 232 764 9 6 February 393 1079 0 0 March 400 1291 17 9 April 451 1344 14 10 June 692 2018 0 0 July 687 1922 4 10 August 794 1945 2 9 September 706 2554 0 5 October 836 3478 1 1 November 874 3758 0 0 December 882 4041 17 9 Total ..£24,197 8 11