MOUNT LYELL COMPANY.
THE HALF-YEARLY REPORT. By Telegraph—Press Association—Copyright. Melbourne, May 16. The half-yearly report of the Mount Lytdl Company states that there was treated G3,651 tons of ore, which produced 1500 tons of blister copper, containing 1452 tons of copper, 102,154 ounces of silver, and 1858 ounces of gold. The strike during tho first two months of the halfyear was responsible for the reduced figures. The output was also affected by the scarcity of labour. Since work had been resumed tho operations had resulted in a net profit of .£20,532. The cost of the strike was shown at .£7317.
The directors decided to ' utilise tho water rights held by the company at Lake Margaret, seven miles distant from tho works, for the production of electricity, supplying all the current required.'' It is proposed to provide funds for the scheme by the sale of one hundred thousand shares unissued in tho capital of tha company. The new shares will bo offered at 255. So registered shareholders on May 27, in the proportion of ono to twelve held.
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Dominion, Volume 5, Issue 1442, 17 May 1912, Page 7
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177MOUNT LYELL COMPANY. Dominion, Volume 5, Issue 1442, 17 May 1912, Page 7
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