MINING NEWS

Dominion, Volume 11, Issue 70, 15 December 1917, Page 12

MINING NEWS

WELLINGTON HIIARR MARKET. Tho auotationa ycßtcrday lor iainins shares were as follow:— Buyers. Sellers. £ s. d. £ s. d. Murray Creek • - * I 5 J Talisman 0 9 6 0 5 9 Grand Junction 015 6 — WAIHI GRAND JUNCTION BETUHN. lij" Telegraph—Hife63 Association. AUChlandi December 14. Thn Waihi Oraml Junction return for November was £15,389, from 8920 tons of ore. J LONDON SHAKE, if AR K ET. Australia n-Neiv Zealand Cable Association. (Bμ. Dccenihcr 14, 9.10 p.m.) Londoni December U. Waihi, buyers 375. 5(1., eollci-h 365. (ex-, dividend); Grand Junction, bu.vern 16s. 6(1., sellers 17s. 6d.; Talisman, buyers 155., sellers 17s. 6d. (ex-dividend). MOUNT GEEKNLAND QUARTZ MINING COMPANY. ANNUAL BBPOIiT.

Followinc Iβ tho annual report of the directors of the Mount Greenland Gold Quartz Mining Company, Ltd., to be presented to the shareholders in general meeting :-During the period ondod December 11, 1917, the work of prospecting and of crashing trial lota of quartz Has been ntcadily pursued. The half-yearly report t oJunc 30 iasl conveyed to shareholders tho plcasinc intelligence that up to June 11 1917, gold to the value of £1404 10s. 9d. had been won, since then 249 tons of qinrlz has been crushed lar a return of £1477 95., details of these crushings have been published each quarter in tho Duncdin, Wellington, Auckland, and local papers. Tho uprise referred to in the last nnual report was "holed" through on December 15, 1916. Since then a further uprieo-from the upper level tunnel to tho surface has been made-tho latter provides means of filling stopes with rubble as the nuartz is removed. Exceeding and exceptional dry weather has been experienced duiine the whole of the current year, not perhaps entirely to the disadvantage of the company's opertions, because there has been a great deal of work to do outside as woll as underground, still the absence of rain hae retarded the crushing. The work of erecting the second five-stamp battery is retarded because tho contractor foi tho conveyance of the nurts has been unablo to coinpleto the work of transit of the battery box, and standards the ieatoii being that his employees have been called away on service for the Empire. Ine directors are urging expedition, nnd are advised that every effort will be made to convey thceo heavy parts over the remaining distance (from tho top of the first hill on the road from Boss) to the Ciaim. Tho work of preparing a site for the battery and the necessary covorinc is nearly complete. Tho directors expressly desiro to stress the fact that -respecting and development work only is possible at present, and Bhortago of labour 'is stayingthat work; that tho shareholders have by tho work of their manager and the staff under him succeeded up to the pienent, point of development in opening again what wan an abandon goldfield-where tnc presence of a payable reef was cpfcsidereo. us a ohan e e, but not as an assured face The company has a sum of £1200 deposited the the Wanganui Borough' Council on short call at 31 per cent, intcrost per annum. Of this £558 Us. Bd. is money subscribed by shareholders for ra.ls. etc. There is an addition cash at creu-.u oi Wβ company's current accounts at Bonk or New Zealand, Hokitika, and Bank of Australasia, Wangauui, as disclosed by the statement. The directors in the n ercsts of shareholders recommend a strong reserve in cash, «o as to enable development work to be uninterruptedly continued, and also to provide for risk oi accidcut to tho machinery, and later on the Ration of a probable larger crushing plant, and, too, for ths. purpose of mamtainms at a later date a steady payment of ictuins by way of dividends. The directors at tho end of September last were .pleased to announce the' payment of a small dividend at the rate of 6d. P^. 61, "™-"™ while it is impossible at tine siege to make a definite. commitment a> °*° future results it Iβ possible that d.u<.enus Sn bo Paid perhaps »nlarlyM devdop. ment of the claim proceeds. Ihc o^" 0 ™ further calls on shareholders.