KOMATA BONANZA.

Auckland Star, Volume XXXIII, Issue 232, 30 September 1902, Page 2

KOMATA BONANZA.

A start was made to drive south on the main reef from No. 1 level on Monday last, and the lode has been stripped for a distance of 14ft; the quartz will be taken down during the next few days. A start has also t been made to drive north on the course of the same in the same level. A level is in 12ft to intersect the reef known as the Rata, and there is solid sand stone coming in at the face of a very favourable class. SALE OF MINING PROPERTIES. Mr. Louis Lewis sold by auction at his mart, Fort-street, to-day, the following mining properties and assets situate at Whangamata:—Luck-at-Last Special Claim, Luck-at-Last Extended, Wharekawa, Triangle, and Lucky Find claims, also two machine site licenses and three water race licenses, together with the whole of the machinery and plant used in connection with the above-mentioned properties. The whole lot was bought, in by the mortgagee for £700. BUNKER'S HILL. The following telegram was posted on the Exchange to-day:—"Good specimens obtained in quartz last night, and gold is still showing in the face of the drive and stopes." In consequence of this good news, shares reached (5/3 this morning, but subsequently sold at 6/1. During the last week 241b of picked stone and 12lb of specimens were obtained. The tributers also have from 65 to 70 tons of general dirt awaiting treatment; CHELMSFORD. The mine manager, under date 26th September, reports as follows: —During the past week the westerly continuation of the No. 1 reef has been picked Up at the No. 2 level, and so also has the northern continuation of No. 2 reef at the No. 1 level. At the points of intersection both reefs were of very low grade, but to-day the appearance of the reefs at both points look much better. The ore during the week has been of low grade and not payable. The ore will only run one shift per day until the ore values improve. The battery level has been advanced a further distance of twenty feet, the total disance being now 371 feet. VICTORIA. The meeting of shareholders in the Victoria Gold Mining Company convened for to-day lapsed for want of a quorum. The directors' report expressed regret at the general apathy regarding mining at the Thames, and stated that until there was more unanimity of interest, and less diversity in the management of the various claims depending on pumping for their drainage, there is little hope for a better outlook. The report referred to- the boring operations, which had been stopped for want of tubes. These were, however, expected to be received in about ten days, when boring would again begin. The fact was also mentioned that negotiations had been opened with the object of securing working capital to further develop the company's property. The statement -of accounts showed total receipts £917 17/3, made up as follows:—Cash brought forward £9 13/2, by drainage £14 17/3, unpaid calls (last balance) £359 10/3, by call £461 15/9, Government subsidy £74 17/3. The expenditure was—Mine £102 8/1, drainage £185 17/6, creditors last balance £81 13/7, mine rent, etc., £40 7/1, wages £82 10/, general expenses £78 19/, boring £215 9/1, cash in bank £132 9/6, in hand 3/6. The liabilities were £66 7/6, against which was cash in bank»£ 132 9/9 and £39 9/10 due by the Government.