TALISMAN PROSPECTS.

Evening Post, Volume LXXXII, Issue 27, 1 August 1911, Page 8

TALISMAN PROSPECTS.

SHAREHOLDERS SATISFIED. (From Our Own Correspondent.) LONDON, 21st June. Fewer than tweftty shareholders ftt« tended the annual meeting of the Talis* Hiah Consolidated, held this week at Winchester House, and the proceedings were purely formal, The chairman (Mr. F. C. Auld) made so entirely a satisfactory statement that not a single question was asked, and the report was adopted without discussion. Mr. Aulfi was re-elected to the boa.rd, and Mr. Stainsfield and the staff *tt New Zealand were cordially thafiked for their able work during the year. In proposing the adoption of the report, the chairman congratulated the; shareholders upon the strong financial position of the company and the bright prospects , disclosed in the report. With regard to developments, *t would be re collected that in his speech a year ago he referred io the discovery ol a hew make of ore at 711 ft in the main south drive at No. 13 level, which had at that time been opened up for a distance of 214 ft. On development work being continued at that point payable values were found to extend for a further 14ft. At 780 ft south a rise had been put through te the No. 12 level, and had proved the continuation of that new ore body upwards for a distance of 136 ft, showing values ranging from £10 to £5 11s per ton for the whole of that distance. In addition to that, since the end of the year under review, the Dubbo cec< tion had been met with in the south drive at that level, viz., 1219 feet, and the reef had been driven on for a distance of about 200 ft, showing good value ranging up to about £5 per ton for a width of 5 feet. The results obtained in ' the thirteenth level had been far better than those met with in the twelfth level, but those, excellent though they be, were far surpassed by the values opened up in the developments carried out below the No. 13 level. They had just received a cable message from Mr. Stansfield, informing them of this, and that below the No. 13 level they had now 19,506 tone of ore of an average value of £7 ISb per ton. They had also above No. 13 level 33,164 tons, averaging £4 16» per ton. Thoee made a total of 62,670 tone, having a gross value of £310,358, m against 47,703 tons at the end of February last, having a gross value, of £299,253, showing an increase in value of £11,105, notwithstanding that they had also extracted from the ore reserve's shown at the end of February last 12,350 tons for a return of £53,955. Having given further details of the developments on various sections of ihe property, he remarked with regaid to the ore reserves, that the tonnage blocked out 28th February wae 49,700 tons, valued at £6 0b 6d, as against 35,700 tons, value £5 15s 3d, at the same time last year, and in the meantime over 40,000 tons had been treated, These reserves were made up on the most conservative basis, and in no way showed the prospective tonnage. On the whole, ths prospects of the mine were never so bright, and during the last twelve months tho developments had been particularly good, proving the ore bodies below No. 13 to be of much higher grade and ( more consistent. There were s«ve» ral interesting points where good developments were probable for the coming year.