MINING

Press, Volume LXXIX, Issue 23962, 1 June 1943, Page 6

MINING

Placer Development, Limited.—lnterim dividends for the year ending April 30. 1944, totalling 25 cents (Canadian), a fully paid share, have been declared payable to shareholders registered in the books of the company at the close of business on May 21. 1943. The dividend will be paid on June 15. Payment from Sydney office will be made in Australian currency, calculated at the rate of exchange ruling on May 22. _ . , Grey River Dredge.—The accounts of the Grey River Dredging Company (West Coast) for the year ended December 31 show a n«t profit of £40,332, compared

with £32,794 last year and 38,203 In 1940. The amount does not Include depreciation. Throughout 1942, says the report, the dredge operated for 5932 hours, or 79.5 per cent, cf possible digging time, and treated 4,164,613 yards for 13,430J0z of gold, valued at £134,172 (N.Z.). This represented an average recovery of 7.73 d a yard, compared with 6.52 d in the previous year. Total operating costs, including taxes, were £93,431, equal to 5.38 d a yard/ against £89,930, or 4.68 d a yard, last year. A total of £20,186 was expended on war taxes. Gold export tax was about 21 per cent, of the total costs. During 1942 three dividends totalling Is 8d a share, or 16 2-3 per cent, were paid. In the previous year two dividends of 6d a share, equalling 10 per cent., were paid. For a clean-up period from May 12 to May 26, the Grey River Company’s gold dredge operated for 243 hours 20 min- j utes. A total of 172,453 yards was excavated for the recovery of 520.75 crude ounces of gold. Associated Gold Dredges (N.Z.), Ltd.— For the week ended May 29, the company’s dredges recovered 175 ounces from 88,760 yards in 3601 dredging hours. Slab Hut.—The Slab Hut dredge has been out of commission for repairs, and there was no wash-up for the week ended May