WAITEKAURI

Auckland Star, Volume XXVIII, Issue 17, 21 January 1897, Page 6

WAITEKAURI

GRAFTON-UNITEI. G.M. COMPANY. Mr Pn.coe, mining engineer to the African-Austral Syndicate, returned on Jan. 15 from Waitekauri, where he has s»barbed development works on the Grafton-United property, comprising 226 acres, which adjoin* the Waitekauri Goldmining Company. A large number of men have been pub on and conbracls let for erecting tho necessary buildings and also for driving a considerable distanco. Mr Pascoe intend* to push the works on with all possible expedition, aud confidently expects highly satisfactory results from the development works in coabemplation,

KOMATA KING, ROYAL AND CHIEF G.M. COMPANIES.

On Jan. 12th the extraordinary general meetings of shareholders of tbe Komata King, Royal and Chief Goldmining Companies were held, ab which Mr W. Ledingham presided. Resolutions were passed confirming the acbion of the Board in granting an option in respect of the property of the companies for a period of cix months from 30bh November, 1896, and also authorising the directors to amalgamate with any person or persons, and to execute all necessary deeds. The Chairman sbised thab an option over the three properties was held by Messrs Bewick, Moreing and Co. The meeting was required to confirm tbe action of the directors' in granting the extension of option for six months. Messrs Bewick, Moreing and Co. would give £500 cash to each company and 11,000 shares and provide a working capital of not less than £40,000. There was every probability of bhe sale being completed within the time specified. The resolutions wore pub and carried unanimously.

KOMATA QUEEN LIMITED.

The operations of this Company during the month paab have consisted of further driving along the course of Argall's and Lavington'a lodes. The drive on tbe former has been extended a distance of 43fb, making a tobal of 116 ft. The country carrying the lode is still broken and greatly disturbed, and until more solid rock has been penetrated no improvement can be looked for in the quality of ore. On Lavington's lode the evol has been driven 55 feeb altogether, 47 feeb having been accomplished during the past month. This is a splendid-looking body of ore fully fourteen feeb across and encased in good country. Driving is proceeding along the footwall portion of the lode, through splendid looking quartz. Colours of gold can bo obtained by dish prospecting, bub so far the ore is of low grade. Ib musb only be a matter of driving on this reef before a run of good gold ia met.

KOMATA TRIUMPH

The directors in this Company have agreed to extend the time for paying tbe second instalment for the option of flouting this property for six months. The whole of the working expenees during thab time will bo dofrayed by the holders of the option.