UPPER THAMES MINING

Auckland Star, Volume XXX, Issue 32, 8 February 1899, Page 5

UPPER THAMES MINING

(By Telegraph—Own Correspondent.)

PA73HOA, this day MAHATOTO.

Mr McCombie, Managing Director of the Maratoto Gold Mining Company, visited Paeroa to-day with tlic object of getting1 the County Engineer to push ahead the formation of a road io (lie company's battery site. Contracts have been let for more, but at ] the present rate of progress the road will not be completed before winter, thus preventing the erection of the battery before next summer. Machinery and plant for the battery will arrive on Saturday week, and considering1 that its speedy erection means the employment, of n large number of hands in the district, the Council should certainly use all possible expedition in the matter. Mr McC'ombie informs me the low level is in 250 feet in the Payrock sectiou, and .").)() feet requires to be driven before the face gels underneath the known chute of ore, though other rnna may be met during driving. WOODSTOCK COM PA XV. This Company have decided to proceed immediately with the enlargement of the battery plant by providing additional vanners and vats, thus enabling1 the company to treat a greater tonnage of ore monthly. WHAMIAM'ATA PROPRIETARY. Messrs. Bewick, Moreing and Co. inform us that this Company has recently' been reconstructed. I'lie scheme of reconstruction provides for the winding up of the local Company iind formation of the Whan^'amata Gold Corporation, Limited, io take over the assets of the old Company. The shares in the latter Company were issued at £1, with 17/0 paid n;\ an immediate payment of i/ per share to be paid on the exchange of shares. It is pleasing to note that, the whole of the 33,330 ■ shares held in the colony Avere applied ! for. and the 1/ per share paid within ! -he 14 days allowed by the Company. This Ih gratifying to the manage--1 nie.;.t, as being the best possible tnilicatkn of the confidence which local shareholders possess in the prospects of the property.

The. Whungamata (iold Corporation (Ltd.) was registered in 'London on the sth of. December, 1898. The capital is iixed at £200,000 in £1 shares.