MINING NEWS.

New Zealand Graphic, Volume XXI, Issue XXVII, 31 December 1898, Page 854

MINING NEWS.

The mining operations of the past year are, generally speaking, satisfactory, the industry being now in a much better position than it was when business was booming on the Exchange. The Ohinemuri district in particular shows up well in the gold returns for the year; the Waihi Company alone will, when the final clean up is added to the present total, show about a quarter of a million as the result of the year’s operations, and during the next twelve months the output from this mine should still further increase as the new battery at Waikino has only been working part of the last year, and there is enough ore in sight to keep both crushing plants employed for a long period yet. Improved returns have also been obtained from the Talisman, Crown, Woodstock, and Waitekauri mines. The Thames should now have brighter times before it as the Thanies-Hauraki pumping plant has commenced operations, which will in due time enable the lower levels to be worked by various companies. Kuaotunu has been quiet throughout the vear. but steady crushing returns are received from the Great Mercury and Mariposa mines. At Coromandel the Hauraki Company is now obtaining rich stone from the Union Beach section, and the prospects of the Kapanga Company are brighter than they- have been for some years past. The amount of development work done in® many of the other Coromandel mines should also shortly begin to bear fruit. At the Great Barrier Island development works in the Barrier Beefs mine are resulting most satisfactorily and there is no doubt this is a very valuable property. An option has been taken over the adjoining mine, the Great Barrier, which is also on the same line of reef. At Opitonui the Kauri Freehold Gold Estates Company are meeting with excellent results from extensive development works and it is anticipated that the new battery will be at work by about April. At Waitekauri the Alpha Company’s battery

is approaching completion and very satisfactory accounts are received regarding the way the mine is opening up. Altogether the outlook for the mining industry is much better now than it was at the end of 1897. The sharemarket closed much firmer this week, thus finishing up the year well. Several lines of Talisman changed hand at 11/9 with buyers at 11/6. Great Barrier shares also firmed being sold and still in request at 3/2. Advances took place in the prices offered for Waihi, Waitekauri, and Alpha shares. Buyers of Waihis offered 93/6, of Waitekauris 31/6, and of Alphas 2/8. In the case of the Waihi shares it is an advance of 3/6 since yesterday, and Waitekauris rose 1/6. Bunker’s Hill shares were also firmer, 1/6 being offered.