GRAND JUNCTION.
Work at this company's main shaft has again been temporarily suspended, pending- the arrival of adequte pumping- machinery to exploit the lode intersected at'the 500 feet level. The steam power and all other requisites have been supplied, and Mr Evans now awaits only the arrival of adequate pumping power. In the meantime, one shift is employed keeping the water down. At the west section the reef has been cut through at 100 feet from the main crosscut,, and proves to be 26 feet in width from wall to wall. The greater part is of fair quality. GRACE DARLING.
The terms of the amended option over the Grace Darling, Portsea, and other adjacent properties are that the purchase shall be completed by 28th February, 1899, the option holders to deposit £100 per month for development; local shareholders receive 90,000 paid-up shares in company of 240,000 shares at 10/ each; £5,000 cash, less option money expended in developments, to be provided as working capital, and another £10 000 guaranteed to the satisiaction of the vendors, 20,000, shares -to-be-reserved. If not floated at the date pientio»eaialHej?osits torbecforfeitedr
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Auckland Star, Volume XXIX, Issue 302, 22 December 1898, Page 7
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186GRAND JUNCTION. Auckland Star, Volume XXIX, Issue 302, 22 December 1898, Page 7
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