Page 4 Advertisements Column 6

Evening Post, Volume LXXXVII, Issue 114, 15 May 1914, Page 4

ABEIDCED PROSPECTUS OF THE OHiNEMUR! SOIB jfc SILVER MINES, Ltd. PREAMBLE. rpHE Promoter, in approaching' tho flotation of the present Company, does so _■*■ with a full 6enso of the responsibility attached to n, work of (his kind, which involves asking capitalists to stake their money in an undertaking which ia as yot in its infancy. But he has mado Hie most searching investigations, with the aid of scientific authorities of the first water, end herein submits tho full particulars without fear of challenge of any scientific authority in the Dominion. He is aware that in tho past in connection with gold propositions gambling speculation has overpowered the judgment of Promoters and Directors and wasted the assets of shareholders, thus resulting in disaster to the companies concerned. In some instances Promoters and Directors havo been entirely misled by experts who were either incompetent or otherwise unreliable. This has shown itseli in various way.-, ni New Zealand. In other cases blind plunging has led to the expenditure of fortunes in buildings and plant, before development work has boon dono to ascertain if there i<* sufficient oro in sight to warrant such expenditure. Tho subsequent development works, having proved tho absence of such ore, there remained enormous buildings and expenbive plant buried in the mountain passes, a monument to the blundering aotions of the responsible parties concerned. In yet other cases, indications of ore having been fouhd, the capital of t[\o shareholders has been absorbed in buildingß instead of utilising it to produce positive ore reserves, and thus justify the further expenditure in buildings. In still further cases sheer criminal gambling has been at the bottom of all the trouble, and unsuspecting people havo been lured into the net, to their ultimate ruin. A large section of tho investing public aro also equally to blame for plunging into ventures of the kind without taking ordinary business precautions, and making sound investigations before risking tho money. Thus the mineral wealth of New Zealand, which by the way has only yet been scratched on the surface, is left a , monument to our folly and a prey to generations to come. With a good knowledge of tho history of mining in New Zealand, and a duo sense of the responsibility attached to tho promotion of a mining company, every endeavour has been put forward by tho Promoter of this Company to 0) Ascertain the true state of tho assets now offered in this Pros> pectitß, and for this purpose (2) To secure the report and advice of an engineer of the highest standing and wide practical experience . (3) To frame a plan of development that will adequately test the values and extent of the ores, and safeguard the capital of tho shareholders, on sound commercial lines, and free from every element of gambling; (4) To keep the control of tjie Company in the hands of mon who will develop it in tho best interests of tho shareholders and restorb the public confidence in a elasß of investment which will yet prove to bo one of the greatest wealth-producers of New Zealand; (5) To secure the services of a Manager whose presence will be & guarantee that the capital will bo expended in a sound, economical, practical, and scientific manner so as to produce the best possible results. The preliminary investigations and practical tests hecossary to justify the production of this Prosp>H,tus, and the flotation of the prpposed Company, have covered a period of twelve months, of which the last two months have been occupied by Mr. E. F. Adams, the well-known and highly«trusted Mining Engineer, in examining and sampling the exposed reefs, conducting surveys, and framing a plan of development and estimates of expenditure neeossary to the . successful development of the mines. t He commends to you his Report, which forms part of the ProspeotWß. Cognisant of the responsibilities as stated above, and with inside information of tho rare prospects of our mines, which information has been known only to the Directors, their advisers, and the Promoter, he launches this Prospectus with the satisfaction of knowing that wo have acted conscientiously in ascertaining ali the facts of the case possible for man to ascertain, and ho has withheld nothing from the knowledge of those whom he invites to become shareholders. The net result of our investigations can bo summed up in the statement mado in the first part of Mr. Adams's report: "The mine has bright prospects, and shows by favourable indications a capacity to reach big mine Btandard with moderate outlay in prospecting and development." To enable prospective shareholders to make themselves personally acquainted with the property, arrangements have been made whereby any bona fide investor can visit and inspect the mines. Electric light has been installed in the drives, and ono of the Company's employees is in attendance to conduct visitors over the works, thus affording every facility for minute inspection. If any group of prospective shareholders desires to send an expert to inspect on their behalf, the Promoter will bo only too pleased to afford every facility for such expert. Our Mining Engineer, Mr. E. F. Adams, will be available, on reasonable notice being given, to accompany experts or groups of prospective shareholders, and make every point clear. He is authorised to give tho fullest information possible. Any bona fide prospective subscriber is at liberty to take samples from tho drives and havo their own assays made. The Directors are so satisfied as to the genuineness and prospects of tho mines that they leave the door open for tho closest scrutiny. Appointments for inspection should be mado with tho Company's Secretary, Mr. J. B. Sheath, Queen-street, Auckland. (Signed) DAVID WHYTE, Broker. CAPITAL: £110,000, IN 220,080 SHARES OF 10s EACH. 110,000 of these Sharos are issued fully paid up to 'the pr6ssent owners of th« Properly. THE VENDORS DO NOT RECEIVE ANY CASH AS PART PAYMENT OF THE PROPERTY. .110,000 Shares are offered for public subscription, on the following terms: Is por ' Share on application, Is por oh allotment, balance in calls of not ' * more than Is per Sharo and at intervals of not less than 2 months. DIRECTORS : ALPHONSUS TEMPEST, Settler, Auckland. ARCH. A. DONALD, Grain Merchant. Auckland. DAVID WHYTE, Broker, Hastings. Other two Directors will be selected by the above three. The above Directors will hold office tilt the Annual General Meeting of th« Company, to b6 held in 1915. BANKERS.— The National Bank of New Zealand, Limited. SOLICITORS.— Messrs. Devore, Martin, and Prendergast, Auckland. SECRETARY.— J. B. Sheath, Imperial Buildings, Queon-street, Auckland. BROKER.— David Whyte, Hastings, Hawkes Bay, ■ THE OBJECTS OF THE COMPANY aro to acquire from the Silveretream Mine?, Limited, all its mining properties, machinery, plant, and chattels, (1) Silverstream Quarts Claim. (2) Advance Quartz Claim. (3) Water Races. (4) Special Sites (Machine Sites). (5) Special Sites (Battery Sites). BATTERY. — The vendors also hold an option to purchase the late Waitikauri' Extended Company's battery, at present erected on the vendors' property, at a nominal figure (£1100), which will effect a saving to tliiß Company of approximately £8000. SITUATION.— The properties are situated in tho Ohinemuri Distriot, nine miles west of Hikutaia Railway Station, on ihe Thames-Paeroa Railway, Hauraki Peninsula, near Auckland. Access to the properties is by a good dray road, metalled, and having an easy grade. THE REEFS.— There are four reefs, proved by mining on tho property, and comprise two classes— viz. (1) Silver Tellurido (Hessite) and Gold; (2) Silver Sulphide and Gold. The principal reefs are known as tho " Queen " and " Julia " (Silver Tolluride and Gold), 7ft 6in wide, and yielding ore worth £114 per ton downwards, and the " Camoola " reef (Silver Sulphide and Gold), 30ft wide, and outcropping in both properties, and which Mr. E. F. Adams, M.A.1.M.E., says " gives special promise in the making of a big mine." DEVELOPMENT.— The vendors have proved the ore by driving ih at a low level and bulk-sampling. The reefs also show out on the surface. From 200 ft to 500 ft depth of tho reefs can be won by gravitation. Tho now Company proposes to further dovelop so as to establish positive oro reserves, and thereafter to proceed with the usual mining operations. As tho reefs aro now well exposed and showing good values, a large portion of the development (o be proceeded with will consist of taking out the oro from the reefs. No sinking is required to catty out the present scheme of development, tho haulage and drainage being by , gravitation. When rises aro made through the reefs to the outcrops, the ventilation will be by natural draught. Heavy initial outlay in expensive haulage, pumping, and ventilating plant is thus rendered unnecessary. This applies to all the reefs. UNIQUE NATURE 1 OF THE QRE.— In no other part of New Zealand does ore of tho nature of and in the form of the " Queen " and " Julia " ore exist, fes Mr. E. F. Adams reports: — , ... " Hessite is well known on this peninsula in various mines, but in no other instance as a considerable deposit or as in intimate mixture with the reef matrix. " From the data at my hand, by the most, eminent authorities on ' oro depoaits covering, the world's mines, Hessito is quoted as a mineral that has been mined to i>rea.t depths in many mines." VALUES OF ORE DEPOSITS.— Mr. Adams's report says,: " Using £4 per oz for gold and 2s 3d per oz for silver as tho figures of market value, the oro of the Silver Queen pay chuto runs in value from £114 per ton downwnrds. Til* bonanza or specimen oro met with in mining on Silver Queen and Julia reefs carries as high as 1000 oz of silver to tho ton. " I estimate that' a total tonnage of 800 long tons has been broken from the Silver Queen stopes. Of this 800 tons about. 170 tons remain in the stopes and 630 tons have been shipped and paddocked, and give an average gross ore value of £3 15s per ton." . ESTIMATED PROFITS.— Mr. Adams's report : " Allowing for the shme-sana losses in concentration, losses in cyaniding, mine stoping, and handling and iftui costs, the profit in ore of tlr's value treated as just described would bo £1 15s per ton. These values aro worked for silver at 2s 3d per oz. . . . With silver at 2s 6d per oz, the milling profit would rise from £1 15s to £2 per ton. STRIKING FEATURES IN THE REEFS.-Mr. Adams's report: "The most striking feat urn in the reefs of this property is the abundance of Manganese, it) the form of Pyrolusite, contained in them for some depth below the outcrops. The reefs are, m fact, highly manguniferotis near the surface, and have baen tor tho most part subject to acid solutions down to and below the depth of present mining. Tho exceptions aro Uioso portions of tho roofs carrying primary ore rich 11 "^Broadly speaking, it is quite evident thai deeper working will produco more extensive blocks of pay ore, and also (hat the bullion at certain levels will be found higher in gold. " . . " Further, tho experience is that at a lower level tho primary ore is not disturbed, being enhanced in value by values deposited from the teachings of tho upper portions of the reefs." . , INSPECTION OF MlNES.— Arrangements have boon mado whereby groups of intending subscribers can inspect the mine. Application should bo made to the Secretary. ' , , ( , CASH REQUIRED.— Tho cash required during the propowd stage of development is £6000. Tho balance of the capital will bo held in reserve for future expansion if required. , CLOSING OF SHARE LIST.-To enable tho work at the mines to bo proceoded with without delay, the sharo list will be closed on SATURDAY, 30th MAY, 1914, at which date tho Directors will proceed to allotment. ILLUSTRATIONS.— FuII-page illustrations connected with tins mine will appear m tho Auckland Wcokly News and the Weekly Press of jjnto " Wednesday, 13th May, 1914." REPORTS, ETC.— Prospectus containing full details about the proposed Company, and exhaustive Reports about the mine, assayß, bulk teßts, etc., together with photographs of tho Company's properties, and a map of tho reefd and proposed development, also Forms of Application for Shares, can be obtained from the Secretary, Broker, or at any branch of the National Bank of N.Z., Ltd, DAVID WHYTE, Broker of the Ohinemuri Gold and Silver Mine*, Ltd., QueoU'Blreot, Hftstiugs,,, H.awke'a B*j.