MINING NEWS.

Dominion, Volume 6, Issue 1843, 1 September 1913, Page 10

MINING NEWS.

WELLINGTON SHAKE MARKET. A aJo of Koss Reconstructed at 15s. 3 tras tihs only ■transaction recorded on So urdn.v Tiio Quotations were os follow: •" Buyera, Solloi £ s. d. £ s. Kuranui Caledonian — ' 0 _0 . Montezuma 10" . ~ New Sjdvto 0 J| 11 J j Rosftoonstrncted 0 12 10 0 13 Talismaa 2 16 Waihi - f A i W«ihl Grand Junction ... - l ' Watornn 0 ° I u _^ Worksop Dredge & ' 6 Th.o ccurso of sales during tie past montt.ls as under:— ' New Sylvia, Is. Id., I®. ljd., Is. N.Z.' Crow®, Is. 24.. Is. 2d. . 1 Eons Itecanstrnated, 9s. Id., 9s. 2d., Bs. 10i 1 Ei 9(1 Bs. 9d. Bs. 83.. Bs. 9d.. Bs. 10d.. 9a. 9( ■ 9s 6d. 9s Bd. 10s. 64., 10s. 5Jd., 106'. 3d.. 1 7d lis M., 12.-. 2(1.. )2s. 2d., 12s. 2d.. 1! ' 6d ' IJ". 9rt., 135. 10ft.. 13i?. 3d., • _ . Swns'tika. :55.. 155.. 165., premium. 'Paili'sraail' 4&=. 6(1.. 6d., 40;. 6d„ 41 ' 9d.41«° 41«. 6d„ 41s. 9d.. 423 . 42 42a. <2!.. 41s. 9d. 6d.i 4S.*. 3d., 475. 3d.. 475., 4' fid 48« 4fe.. 48s. -id., 485., 455., 48s. o frf.. 4fcid: 4fe, 3d.. 475. 6d 475.. 47 47i 47{i. 6di., 47a. 6d„ 475., 465. 9d. Waihi Ground Juration, 225. 3d., 22*.. Z Trl 9?v 22s 235. od., 225. 3d., 22?. 3d., 2 Sd" 2t0."9dT8».H.. S*. 6d„ 21s. 9d.. 21s. 9 21s. 9d„ 21s. 9d„ 21s. 9d. Wfl-itanfTßr B|jd., 7d., 7id. Watchman. 2a. 9d. STOCK EXCHANGE. (By Telegraph—Press Association.) Auckland, August 30 Sales on 'Oha.nge this morning:—K-ws. 1 lOd. to 13s. 4d.; W'aihi, £2 6s. 9d., £2 7fl Christchurcli, Aujrust 30 Sales I(6ported:-CUristcliurcli Que. i Canterbury Frozen Heat, £8103. □uncdin, August 30 Rales on 'Oli-anjre:—'.Vaihi, £2 75.. £3 7 Junction-, £1 la. 6d. Sale reported :-Wai £2 7s. 6d. AUCKLAND MINING RETURNS. AucHland, Au2u.=t 31 Tlio'cold returns for the month AnguH show that tlio output for t Auckland district, totalled £77,161 ss. t compared with £76,050 lis. for Ausiiit h:A year the return was ±38. 79. 7d. For the flnvt. seven months of t yeor (lie tola! ia £516,315 9s. 2d., an a;ca«» of £10,660 2s. Ed. ovw tlie sa period of last year. ROSS RECONSTRUCTED. The balance-shcet. of the Ross Goldfic Reconstructed, Ltd., as at Juno 30. 1. has been (issued. The report of 1 directors eta-les:— "Since I<hc company was reconistruci 6» 6d. per share been called up, rhisivo Of the coll due on September ThN i c more tlinn your directors ant natnd. but the umwateiiiig am} (level men; work has tyke.ii longer and been m< (jo = tiv than wo" expected. In view the quantity of water which was found ciist in Cissim tie directors mailo <w;

cation to tlio Milliliter, for Mines in Juno last for <i Mibsid.v. The Minister intimated, however, that lie was imahlo to authorise any further eubsidy to assist in the development of Ross Flat. Abdication. was then made under tho Minim; Act, t 1908, for o. loan from the Government. Tho company's application is now benu; considered; tho Act providing that before a . loan can bo (fronted the Mines Deportment j officials have liret to report, upon tho pro- li perty. If the loan is authorised it mil bo an excellent reservo availiiblo to tlio company which need not be drawn upon. " unless tho company requires it. Inde- c pendent-, however, of eil'her suljfridy or J Government loan, your directors .think tho r compflny has suiricicnt capital to prospect and dcveJop a- large area of its ground. Tho latest developments show every mdi- s ration t-hat tho mine should become self- s Gupporting at an early date, and m addi- a lion, provide funds fTom gold returns for developing the deeper levels with little or i no ,'utrther calls on shareholders. ] "Pull details of tho devcJopment work to ] tho present time are presented in tho lie- . companying report from tho mine superintendeiut. . , . 1 1 "Up. to tho present work in' tho deep a levels lias not been attempted owinß, n lv, to the existence of water an the Cassius luino .makin' such operations danjrerotiF, and, secondly, to a ccneral dc-siro to mako ( calls oil Phareholders as liplit as possible. ] Your board anticipates that returns from , wash on tho present levels will provido ' sufficient funds to enablo ssistomatic pro- t epoetins and development of tile low levels. ] "l'our directors have kept in close touch j with tho mine superintendent., and liavo ( "xercUed a close supervision over tlio woTk - which, liap been carried out. They aro t eatisfied that Mr.. Cock is using his .beet i endeavours to open- up tho mine as quickij as is possible, consistent with. safety, ana is displaying eneirfcy and ability in en- . deivouring to make the Rose property fl. J payable gold-produoing concern. ... f The mining euperantendeiit s report deal- , ing with the prospects of the mine states: Those faces iu Caesius workings wbich a.r® J easily accessible lia,vc been carefully pro- ( speoted, and on the limits of the north ana south drive payable w-Mh licis been en- ( countered. I cannot at- present state what ; area of wash exists, and this can best be , ascertained by drives being opened, in the ] good wagih—this, however, cannot be undertaken until further facilities aro made lor flip nurno■ b of openicg tho?o drives » the economical handling of the wash. Ttas j work is further explained under the headins of propoeed development work. , Encouraging prospecti? have a.eo been obtained from wash four feet above tho ] back laths of No. 6 level—its nature in i dicates it to be .the same ran. by Caesium, but further work is "Wei-saw to Drove if it is so. Although this J is not rich it eliomld be remunerative when \ brought under operatJona on a lar.e ecalc. j Tlie further development work I have to j recommend is as follows:(a) The extension of Ao. 6 level b.lj. ior , a distance of 130 foot to linng it iu lll the NT and S. drive in passim, hum. o« , the construction of » ras mto o l a ™ i iffl of rt'Tjairs. Thjs \sorK wi-u, a J p"t be completed in seven weeks from ] date and should tho wafli. when treatod in bulk, come up to. the cxpec^a.ti o "® f «r™' , ed by dish prospecting I ara hopeful that . the raine wall then shortly become at least , pelf-supporting. the (b) Tho exclusion of No. 6 level aion> wib - course, it is now taking in the hope of ; nicking up tho Morning Star run of gold { and the construction of prospecting neos to locate thit run of gold. . (c) The enlargement and regradmc of No. 7 He ll™ a distance of 120 feet before l)rin4W it under the farthest easterly j workings of that, wash worked by the old , Ros-3 Company with a view of . its extent and value, and ait the same tame - provide facilities for its development and i economical rcmova.l. imirvcnr : The. revenue account for the nalf-jcttr dhows that the incom.c /nnounitrid to £8 J»., ( derived from tra.tiisfer and the e..pen- . diture to £413 12«. IA.. of which £16. 10s. is for directors' fees, and £88 17s. lid. ior < tmvelling expenses.