MINING NEWS

Evening Post, Volume CXVI, Issue 104, 30 October 1933, Page 12

MINING NEWS

BULOLO GOLD DREDGING

Mr Fred.. G. Dunn, attorney for Clutha Development, advises- of receipt ot the following cable from Sydney on Saturday :-"Bulo1o Gold Dredging, Ltd., has dedared interim dividend Of 60 cents Canadian per share payable shareholders on record close business November 9. Canadian tax 5 per cent, to be deducted from non-residents Canada. Dividend cheques will be posted from Sydney office to shareholders on Sydney register on December 15; transfer books and register of members will be'closed from November .10 to 17 1933, inclusive. Placer declared interim dividend 1 dollar 20 cents payable shareholders on record November 9. Canadian tax cheques posted; transfer books and Tegister o£ members closed same as Bulolo." ...... FIFTY PER CENT. DIVIDEND. Lake View and Star, Ltd., reports a profit of £439,305 for the year ended June 30, compared with £284,115 the previous year. A sum of £129,972 is written off for development and depreciation, and £50,000 allocated to- reserve The directors recommend a final dividend «>f 12>£ per cent., making 50 per cent, for the year. Against £31,526 brought forward, £19,433 is carried forward. ELECTROLYTIC ZINC. \' summary of results of Electrolytic Zinc Company of Australasia, Ltd., for the year ended June 30 shows that gross profit, after providing for amortisation, depreciation, and maintenance, was £297,604, compared with £145,790 the previous year, net profit of £223,094 com- . paring with £85,090. Dividends on preference shares required £120,000, arid the payment of a further . £120,000 on November 2 will clear the accumulated preference dividend to December 31, 1932. The; year's dividend represents 8 per cent., against 4 ;per cent. the. previous year.. Mine production increased by 866 tons to 53,951 tons.'. By-products from electrolytic, zinc process were .2223 tons lead, a deoreaee of 692 tons, and 221,0000z of silver, a decrease of 146,0000z. Cadmium production was 169 tons, an increase of 16 tons. Copper residue produced 79 tons of .copper,: against 106 tons, and 17,9490z of silver, against 24,6200z. Sales of superphosphate were 21,361 tons, an increase of 796 tons. ■ The company, which is a party to the zinc cartel, was able to maintain full proauction during the year, and to dispose of all production as well as part of the carry-over from the previous period. ZINC CORPORATION. Zinc' Corporation, Ltd., production for the period ended October 14 compares with the September period as follows:— . • Sept. 10. Oct. 14. j Mill, run. hours 481 503 j Ore treated, tons .... 27.2G0 30,000 Assaying—" ' ' ' ■ ■ Lead; per cent, .... 14.9 15.2 Zinc, per cent 11.0 10.4 Silver, oz 4.!) 3.7 Lead concentrates, tons 5,193 0,/S4 'Assaying— Lead, per cent. 73.S 74.a Zinc, per cent :. 4.3 4.2 Silver, oz 23.2 17.1 Zinc concentrates, tons 4,589 4,933 Assaying— Lead, per cent 2.2 2.0 Zinc, per cent 53.0 52.7 Silver, oz 1.9 1,5