MINING

Hokitika Guardian, 22 December 1932, Page 7

MINING

OKARITO DREDGING CO. DUNEDIN, December 19. The secretary of the Okarito FiveMile iieacii Gold Dredging Company, Ltd., reports that the wash-up for the week ended Saturday, December 17, was otoz 18dwt for 122 hours’ dredging. The following report relates to the four weeks from November 5 to December 3—Total gold won, 1540 z odwt; total time, worked 434 hours; total non working time 142 hours (including 40 hours completing Peltcn installation) total yardage treated, 28,800 cards, an average value of ground (on basin of gold worth £4 per ounce), 5d per cubic yard.

THE GOLD OUTPUT. A STEADY INCREASE. DUNEDIN, December 20. “It is gratifying to see the revival o? the gold mining industry and to know that there is a steady inirers* in the gold output,’’ said Air Hrrnu.i Ree Vis at the annua! meeting of the Dunedin Stock Exchange to-day. “The output for the iir-t seven months of this year was valued at over £ooO,000, which is greater than lor the whole of 1931). -Many new gold mining companies are being formed and registered on the Stock Exchanges throughout the Dominion, and it is very necessary for us to make sure, a,s far as we possibly can. that these ventures are sound and have legitimate chance of boing snee \sisful, “In our own province there are some new ventures about to start operations ."lid on their success will depend to a great extent not only tho ill tonuts of the shareholder!;, but the whole communion. Active and profitable gold minus in Otago should be a big factor in helping to dispel the d.'p.TM-ion.