Speculative Mining.

Te Aroha News, Volume VII, Issue 473, 21 May 1890, Page 2

Speculative Mining.

The- -Correspondent of The Australian Mining-Standard writes as follows under date London, March 18th : The Daily News.has published a table showing that, whereas the shares of twenty-three of the Sooth African goldmines best known to the London and Berlin markets were valued at over 3S& millionssterling in January, their present value is about 17-| millions. It adds : “■ More than-double as many mines were dealt in here'last year, but weak holders of unmarketable shares have been forced of late to realise those for which n quotation of any kind could be got. Very likely, the difference of about 22 millions is not fai; from the loss which English holders have had to meet altogether by depreciation in Transvaal gold-mines during the past fourteen months. As yet these properties arc nearly all speculative. Many nny become ■ good investments, but. the gross output from Witwatersrandt being still at the rate of only l-.V million pounds sterling per annum, there is not sufficient profit at present to furnish -dividends on thecapital, even shrunk as it is.” Nothing can be more certain than that the enthusiasm which has latterly reigned in London financial circles in regard to South African gold-mining ventures lias not only waned, but is waning still.. Still .there is plenty of money awaiting speculation—investment in mining and like concerns, and the question is, Whither.shall it be sent? Not to South Africa, I'think. Some of it may go to South America ; other may go to North America into some of the more risky manufacturing concerns which it now seems the fashion for Englishmen to purchase. But, if Australia doe 3 what it should do at and during the Mines Exhibition—may I call it the Minories, as it is already dubbed?—the southern group of colonies will get a very, large share of English investors’ and speculators’ attention. Talking ok South America, it may not be generally known that Dutch and French Guiana promise to come to the front as gold-producers, as in both alluvial and reefs these countries, by no means difficult to arrive at, are reported to be very rich. The Australian Trading World has the. following regnr ling the Gold Ores Reduction Company, Limited :—“ This ca hi pany,. assay era and smelters <of re-' fractory .gold, silver, antimony, copper and other -ores, lias been, we leant, extivfhely '.successful in the treatment of refractory ores undeCtlioir patent. The plant necessary, for working .by this -system is-comparativcly inexpensive, and is likely to be adopted in all mining countries. Probably a new company will be formed to take up the patents for Australia, Tasmania, and Mew Zealand. The New Zealand mining industry is very much retarded by the want of an efficient system of treatment combined with.a moderate cost, so are many mines in Queensland and also in South Australia. The-Gold Ores Reduction Company have made ample experi i units* not; simple assays, blit in the treatment of bulk parcel's, and '.-with'perfect success.” Lean tell you nothing about, the concern or the process on my own responsibility.