GREY RIVER DREDGING
A net profit of £32.794. after payment of £2415 royalties, compared with £38.203 In the previour year and £47.516 In 1939, is shown in the fifth annual accounts of the Grey River Dredging Co., Ltd.. for the year ended December 31. Throughout the year the dredge was in operation for 6310 hours, or 84.8 per cent of possible dredping time, and treated 4.609.862 yards from which was obtained 12.075 3 i crude ounces of gold bullion, realising £125.149 (N.Z.). This represents an average recovery of 6.52 d per cubic yard of gravel excavated. In the previous year the yield was 13.5160z valued at from 4.399.123 yards. Total operating cost. Including taxation, was £89,935 (£90,935 last year), equal to 4.68 d per yard dredged. A total of £18,128 (£20.318) was expended as export tax on gold bullion. During 1941 the balance of £2415 on royalty payments was paid. There were two dividends of 6d per share each, representing 10 per cent per share. In the previous year the distribution was 15 per cent per share.
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Auckland Star, Volume LXXIII, Issue 121, 25 May 1942, Page 2
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177GREY RIVER DREDGING Auckland Star, Volume LXXIII, Issue 121, 25 May 1942, Page 2
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