QUARTZ MINING NEAR ROSS.

Hokitika Guardian, 27 December 1917, Page 3

QUARTZ MINING NEAR ROSS.

MT. GREENLAND QUARTZ COY. The annual report of the Mount Greenland Gold Quart;: Alining 'Company says, inter alia: During the period ending December 11, the work of prospecting and of crushing trial lots of quarts has been steadily pursued. The half-yearly, report to June 30th last convoyed to shareholders the pleasing intelligence that up to June 11, 1917, gold to the value of £1404 10s 9d had been won, since then 249 tons of quartz had been crushed for a return of £1477 9s. The uprise referred to in the last annual report was ‘holed’ through on December loth, 1910. Since then a further uprise—from the upper level tunnel to the surface has been made—the latter provides means of filling stopos with rnhhle as the quartz iis removed.

The work of erecting the second fivestamp battery is retarded because the contractor for the conveyance of the parts lias been unable to complete tho work of transit of the battery box and standards, the reason being that his employees have been called away on active service. The directors are urging expedition, and are advised that every effort will be made to convey these heavy parts over the remaining. distance (from the top of the hill on the road from Ross) to the claim. The work of preparing a site for the battery and the necessary covering is nearly complete. • The directors expressly desire to stress the fact that prospecting and development work only is possible at present ,and shortage of labour is staying that work. The company has a sum of £I2OO deposited by the Wanganui Borough Council on short call at 3]- per cent, interest per annum. There is an addition cash at credit of the company’s current accounts at Bank of New Zealand. Hokitika, and Batik of Australasia, Wanganui, as disclosed by the statement. The directors, in tho interests of shareholders, recommend a strong reserve in cash, so as to enable development work to he unint :■ ‘uptedly continued, and also to provide for risk of accident to the machinery, and later on the Installation of a probable larger crushing plant, and too, for the purpose of maintaining at a later date asteady payment of returns"by way of dividends. The directors at tho end of September were pleased to announce the payment of a small dividend at tho rate of fid per share, and while it is impossible at this stage to make a‘ definite commitment ns to the future results,. it is possible that dividends can be paid perhaps regularly as development of the claim proceeds.