MINING

Hokitika Guardian, 16 October 1933, Page 2

MINING

KING SOLOMON WASH-UP

INVERCARGILL, October 13

The wash-up at the King Solomon mine for the week totalled 91 oz. 14dwt.

GOLDFIELDS DREDGING GO.

DUNEDIN, October 13. The Goldfields Dredging Company reports a return for the week ended to-day of 24 oz for 126 hours. FRESHFORD RETURN INVERCARGILL, October 13. The Fresh ford return for the week for 15tJoz. GOLDEN DAWN RETURN The Golden Dawn return for 12 days, eliding October 7, was £679 from 280 tons of ore crushed, gold at £4 an ounce. At the current price of gold, plus exchange, the return is equivalent to approximately £llOO. LAWSON’S FLAT The mine manager’s report states that during the period from September 26 to October 10 approxiately 8500 cubic yards of wash and 500 cubic yards of bottom were sluiced The greater proportion was from the remains of. the conglomerate bar containing low values, which was broken through during the previous pepiod, and the remainder was from the new cut on the right-hand side of No. 2 face, which was opened up. at the end of last month.

In h'-’s report, circulated reeont’ly to shareholders, Mr John Henderson stated that the wash in the new cut contains better'values.

The gold won during the period to October 10 amounted to 420 z 6dwb of retorted gold. The average amount of material treated was approximately 30 yards an hour, as compared with 30 yards an hour, as compared with 10 yards an hour for the previous period, as stated in Mr Henderson’s report. The reduction is accounted for by the fact that the return water system was closed down for a period of three days while alterations were being made to increase efficiency. The return of retorted gold for the period ended September 26, was 20-loz, approximately BLvi being from No. 1 face, where the bench for the new pipe line is practically completed, and sluicing operations will soon be commenced.

Work is being concentrated principally on No. 2 face, and when the more efficient stoning plant, strongly recommended by Mr Henderson in bis report to shareholders, has been installed, the result should be an 1 ; crease in the yardage treated and a reduction in labouF costs. The next wash up will take place about October 26, ' WEST COAST DIVIDENDS

Two West Coast mines—Alexander ;and Blaekwater—have returned to shareholders witliCn the last 18 months dividends, aggregating £83,700. Alexander has paid on its capital of £60,050 dividends of 9s a share, a total of £33,750. Blaekwater Mines, .Ltd., has returned 2s 6d a share on its capital of £550,000, or £31,250. Consolidated Goldfields, Ltd., is a holding company with shares in Blackwater Mines, and shareholders received Is 3d a share on the capital of £300,000, or £18,700. Both the Blaekwater and Consolidated dividends are in English currency. An interim dividend is expected shortly in both these companies. Income tax and gold export tax represent a substantial sum over and above the dividend distributions.