IMPERIAL.

Auckland Star, Volume XXXI, Issue 292, 8 December 1900, Page 5

IMPERIAL.

The manager telegraphed to-day: "Rich ore broken out of No. 1 reef this afternoon from the new level. Coarse gold showing in the stone." CHELMSFORD. The Chelmsford Company's battery is being pushed on with all possible speed, and it is hoped will be ready for-work by the end of February. The difficulty with the Essex Company re-garding.-water rights has been settled on- .a satisfactory basis, the latter company agreeing to take the overflow. PRIDE. OF WAIHI. The prospectus of the Pride of Waihi.Company appears in this evening's issue.' The capital is fixed at £60,000, in 120,000. shares at 10/ each. Of the total number 50^000 shares (contributing) go- to- the vendor, as well as £100 cash, 20,000 shares are reserved, and 50,000 are. offered to the public at £25 per 1000. This will give about £.1000-cash to prospect the property. The prospectus is at Mr. D. G. MacDonnell's office. WEST TOKATEA. The West Tokatea mine continues to look well, some first-class ore coming to hand. There is now a considerablu quantity of ore awaiting the erection of the battery, which work is being pushed ahead. The excavation of the site is now completed, and most of the machinery is on the ground. It is expected that crushing operations will commence about the end of January. WAIHI CONSOLIDATED. .The demand for Waihi Consolidated shares set.'in strong again to-day, sales being made at 2/6 and 2/8. It is under-stood-that.Mr J. Ztman, acting on behalf of his London principals, has completed the .taking over of a working option on this property under terms of a satisfactory, character. Under the arrangement a stipulated sum has to be spent monthly in developing the property during-the twelve months' currency:. of the. option. Mr Ziman is awaiting, the confirmatory cable from his-principals before making known the full particulars of the option. The directors have, it is stated, carefully conserved the' interests of shareholders, securing them a fair share in the new company to be formed, and in tho meanwhile getting the property prospected free of cost, while the option is running. In addition to this a good working capital has been arranged f«jb -■-. -■--.......