MINING NEWS

Inangahua Times, Volume VIII, Issue 1271, 16 July 1883, Page 2

MINING NEWS

[From our Mining Reporter.] Saturday, July 14. The sharemarket has been flat during the week, and but little business has been done in any lines. It is hardly likely either that the incoming week will see much improvement, for the battory returns are by no means " flash." The Hopeful cleaned up last week with a not very satisfactory yield, and the %ures to hand tint week from llio Lark and Oriental are not at all inspiring. In respect to the Keep-it-Dark, however, the tlinuurilion in the yield is without significance.

The reef is of enormous bulk, and the distribution of the gold irregular, and, as a rule,. what the returns are defi- j cicnt one week, or one rronth, is fully i mad^ up in the next. The Oriental I have only just got into what is termed ' the "big reef,"ivi.d it is quite possible that the same rule will also hold good in that mine. Owing to the lai*ge additions recently made to the .Fleece Extended \ lant, in the shape of rockborers and diamond drill, it has been necessary to strike a call of sixpence per share, and it h l.ot improbable th;it the Hopeful Extended will make a : ii.dlar call upon shareholders, and these circumstances together are no doubi, not without their influence upon the spirits of investors, and Would account in part for the temporary chill which has fallen upon speculation. The Fiery Cross Extended are once more crushing, and no doubt is entertained as to the payable character of the stone going through the mill. «T>he.. Lan^ey'|r^^ ;^lso folly engaged with their crdsiiing," -amt-a -general cleaning tip will shortlytake place. The Golden Treasure will be some weeks yet before stone can be brought out, but the drive from the foot of the shaft to intersect the reef is being pushed ahead, and every effort i made to expedite the crushing. The Globe works are being carried on with the expedition which has been characteristic throughout, and a very few weeks will see the battery in full operation. These facts are a sufficient set-off against the depression now current, and there is little doubt that in a very short time confidence will be abundantly re established. The following are the battery returns for the past week : — Keep-it-Dark,— 2580z5. of amalgam, from 198 tons of stone. Oriental. — 1490z5. of amalgam, from ten days' crushing.