Practical Gold-mining: Its Commercial Aspects. A Collection of Statistics and Data Relating to Gold-mining and Gold-mining Finance Companies

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W. R. Russell & Company, Limited, 1902 - Gold mines and mining - 208 pages
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Page 49 - In many such cases, if the funds raised at first had been expended on the mine, the profit from the sale of the ore would have sufficed to erect the plant afterwards, and the investment would have been saved from failure, or at any rate there would be the satisfaction of knowing that the mine had been thoroughly tested as far as circumstances permitted and found unable to pay, and in such a case a useless waste of capital would be avoided.
Page 53 - It will always be found as a rule that to err on the side of excess of size of machinery . . is far better than defect." Alluding to natural or artificial means of draining a mine, he also adds : " The allowance to be made must depend upon the requirements of the case, and the judgment and capabilities of the engineer in charge of the execution of the works, but it is not unfrequently the case that the hands of a good...
Page 59 - ... per ton. It is dependent upon the hardness of the quartz; the hardness of the country rock in which the vein is encased; the relation which the auriferous portion of the vein bears to that which is barren ; the depth of the workings, and finally the amount of water in the mine, and whether it has been drained by adits or pumping.
Page 44 - It has been asserted that the veins 'pinched' out' in depth, and were in consequence abandoned by the ancients. It is undoubtedly true that in some instances the veins did ępinch,' and that the ancients, ignorant of the fact that such pinching was but temporary in occurrence, abandoned the workings. The tendency to ' pinch' and to ' open out' is a characteristic feature of fissure veins.
Page 49 - ... which the money was subscribed, turn out worthless. In others, the money which should have been invested first in mining exploration and development is expended on surface improvements, owing frequently to insufficient preliminary investigation and consideration, and the consequent failure to provide adequate working capital. An insufficient balance consequently being left to open-up what might have turned out a paying property, with the result, that the shareholders, tired of calls without returns,...
Page 48 - ... charge of 3s. 8d. per ton would be debited against the stone milled in the year. This is a good policy since mines may, and often do, in fact, become poorer in depth, which may happen in two ways, either by a diminution in the value of the ore, or a reduction in the size of the ore-bodies. The mine owner is generally anxious to hurry forward the erection of a mill too precipitately, because he knows it is the requisite first step towards making profit at all, unless he can ship his ore, or treat...
Page 42 - This is a serious state of things, and one that almost amounts to a national disgrace, and it behoves us seriously to consider whether 1 "Goldmann's South African Mining and Finance,
Page 42 - A larger proportion of mines pay, as far as can be ascertained, for working in America and Germany.
Page 1 - Africa, and other parts of the world, there can be no doubt that vein mining also added greatly to the stock of gold in those times.
Page 42 - It is humiliating to have to confess that the majority of mining enterprises are commercial failures...

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