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Tingha tin mining

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Tuesday 3 July 1906, The Sydney Morning Herald

A SUCCESSFUL COMPANY.

INVERELL. Saturday.

At the half-yearly meeting of the Tingha Tin Dredging Company, held on Wednesday, the report stated that dredging operations showed a marked improvement during the half-year ending April 30. The half-year commenced with a debit balance of £624, and ended with a credit of £1263. Two 3d dividends, amounting to £1236, were paid. The profit for the half-year was £1876. The quantity of tin won was 47 tons 7cwt 1qr 23lb, valued at £4571.

Since the half-year closed an average of over 2 tons of tin per week had been obtained. The directors anticipate this output will be maintained, if not increased. In view of the good returns obtained the directors decided to put on a second dredging plant. As the company has much more ground than one plant can work out in a reasonable time, with tin at such a high price, it would be unwise to allow the ground to remain idle.

The Elsmere Tin Sluicing Company has just completed the erection of an extensive plant at Elsmere, the scene of the first tin discovery in Australia, and has had a satisfactory trial run. The plant includes a powerful pump, capable of lifting 100,000 gallons per hour to the top of Elsmere Hill, 265ft above the river. As the company paid handsomely with a somewhat primitive plant it is expected that the new machinery will mean larger profits.

Written by macalba

April 4, 2011 at 8:03 pm

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