MOUNT LYELL MINE
NEW SHARE CAPITAL. If- flattfr-PrOM l>MllHtil ril|Jli^| Melbourne, May 16. The half-yearly report of the Mount Lyell mine states that 6351 tons of ore ■were treated, and produced 1500 tons of blister copper, containing 1482 tons of copper. 102,454 ounces of silver and 1858 ounces of gold. The strike during the first two months was responsible for the reduced figures. The output was also affected by the scarcity of labor since work had been resumed. The operations resulted in a net profit of £20,532. The cost of the strike was shown to be £7317. The directors have decided to utilise the water rights held by the company at Lake Margaret, seven miles distant fiom the works, for the production of electricity, supplying all the current required, it is proposed to provide funds for the scheme by the sale of 100,000 shares of the unissued capital of the company, the new shares to be offered at 25s to registered shareholders on May 27, in the proportion of one to twelve held.
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Taranaki Daily News, Volume LIV, Issue 275, 17 May 1912, Page 5
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173MOUNT LYELL MINE Taranaki Daily News, Volume LIV, Issue 275, 17 May 1912, Page 5
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