MINING.
GILLESPIE'S BEACH. At the annual meeting of Gillespie's Beach Gold Dredging Company, Limited, in Dunedin, the chairman, Mr. J. M. Stewart, said the average gold recovery over the 713.071 yards treated during the year amounted to only 1.93 d a vard on the basis of gold at £4 an ounce. This automatically increased to 5.05 d a yara for value received, but the higher price was largely offset by increased costs. Since the end of the year the ground had improved In value and the outlook was more hopeful. Mr. Stewart estimated that six or seven years' dredging .would be necessary to cover the -company's area. . NEW RIVER MISHAP. a n T \r« ew n ß itr r^ redg s. wWch h*» been working ?5..»» ea »i n w h ?.. N , ew Blver near Marsden (West S2 Mt J'-y" holed Ulst week ">d sank in the dam. The dredge was working in shallow water. YIELDS OF COMPANIES, Rlver - 3450z »n »1% hours from 99.792
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Auckland Star, Volume LXXI, Issue 230, 27 September 1940, Page 4
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165MINING. Auckland Star, Volume LXXI, Issue 230, 27 September 1940, Page 4
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