GOLD IN NEW ZEALAND.

Wairarapa Age, Volume XXX, Issue 8510, 13 August 1907, Page 7

GOLD IN NEW ZEALAND.

f(Erom Our London Correspondent.) LONDON, June 19. .Sir Westby Perceval presided at ithe annual meeting of the Consolidated Goldfields of New Zealand, iield yesterday at the offices, 20 Avenue, and, in moving ;the adoption of the report, said the iprofit earned during the past year had amounted to £48,488, as against ,£3§,772 for the preceding year. The shutting down during the first six months of the year of the Golden Fleece battery, in consequence of an alteration in the mining laws of the..colony, affected the amount figuring as received from gold recovered, but had not substantially affected the profits, except so far as an increased profit would have been shown had not .development been carried on during the time .the mill was not working. Jf they added to the sum of £48,438 ihe amouat of the balance brought from last year, they got a ttotal of £7s', 177. Referring to mining operations, ,-the Chairman said that the company Jiad received 20s 6d in dividends on every share .which they held in the Progress Corepany. That company ■continued to jnake satisfactory proJ3ts, aad the recent developments in the lowest levels of the mine were satisfactory. Ike Wealth of Nations Mine had again .show very satisfactory results; the tonnage treated was as against 11,970, and the yield in gold £25,717, as against £19,848. The working costs amounted to £10,112, -and the profits shown were £13,604. With regard to the Golden Fleece Mine, 6,725 tons had been milled, and treated, yielding gold to the value of £12,590. The Blackwater Mine was their most recently-acquired property. The mine manager had cabled with reference to the development on the northern portion of this property stating that the value of the reef was improving very much as work proceeded. The reef had been proved for a length of 250 feet the last 90 feet having given an average assay value of 17dw t3. The resolution v;ys seconded and carried.