IMPORTANT TO WAIHI ENGLISH INVESTORS.

Evening Post, Volume LXXXVII, Issue 118, 20 May 1914, Page 3

IMPORTANT TO WAIHI ENGLISH INVESTORS.

WAIHI, 20th May. * An application at the Warden's Court to-day, on behalf of James Blackmail, mining engineer, and several English investors, is of unusual importance to vVaihi. They filed the application in question for protection for two of the five claims in the old Romulus Group to the Waihi Prince and Waihi Princess mines. A declaration, which accompanied the request, showed that C. Rooke- Williams, of London, had some months ago entered into negotiations with a powerful financial syndicate, who expected to be able to commence _ active operations on the group of claims early this year. These negotiations, however, were interrupted owing to the syndicate's large interests in Mexico ventures becoming involved by the serious trouble which has since invested that country. The withdrawal of certain capital to be used in exploiting the Waihi properties was, under the altered conditions in Mexico, rendered impracticable. This was an unlooked for set-back, and much valuable time was lost. Ultimately, Williams was successful with another strong English syndicate, who confidently anticipate the immediate raising of capital of £15,000 to carry -out preliminary development work. 'With this capital they hope to provide sufficient proof of tho value of the properties to warrant them in proceeding with tho flotation of a larger company. The first work decided upon is the putting down of a vertical bore of 2000 feet. With this object, application is being forwarded to the Mines Department for the use of tho Government mining drill.