FINING.

Evening Post, Volume LXXVIII, Issue 10, 12 July 1909, Page 7

FINING.

A BIG SCHEME. MORE LONDON CAPITAL. Tlie Wailu correspondent of the Auckland Star states that communications have been received at Waihi from London to the effect that a powerful h\ndieate has been formed, with a substantial working capital, for the development of the Gigantic Group of claims situated on the eastern continuation of the main lode series of the Waihi district. It is understood that a Wanganui and Wellington syndicate acquired these properties some time ago, and have since placed them in the hands of their London agents -for flotation. The Star's correspondent is informed that the company intend starting operations with ample working capital, and will commence sinking a commodious shaft on the western slopes of tlie rising country east of the Waihi Consolidated property. The Gigantic Group of claims is peg and peg with the Waihi Consolidated and with the Romulus Group, over which an option has recently been secured. It is understood that the syndicate holding the option over the last-named properties will be prepared to commence boring operations about the end of the present month. These properties occupy a good position, and should embrace Uie eastern continuation of the ore bodies now under development in the Waihi and Waihi Grand Junction Companies' mines. About three years ago Mr. J. W. Walker, of Auckland, went to London in the hope of floating the group referred to, but he met with no success, and in an interview with an Evening Post reporter on his return, he stated that the English capitalists were very shy of touching any mining properties which would not yield immediate returns. What they wanted was developed properties. He said he was satisfied, however, that in a few years' time the men at Home who had invested their thousands in New Zealand mining properties in the past, would again turn their attention to this country.