PROSPECTUS. ROSPBCTUS THU NENTHORN CONSOL’DATED Q.M. COMPANY, LIMITED. NE THORN, CENTRAL OTAGO. (Registered under “The Mining Companies A 18RR CAPITAL LH.600, In 58,400 Shares of 5s each, Of w hicli 38,400 Shares, paid up to 2s each, are retained for the interests which have already been transferred to the Company by the original Shareholders, the remaining 20,000 being offered for Public Subscription on the following terms6d per Share on application, 6d on allotment, and four calls of 3d each. Provisional Directors : Richard H. Browne, Esq, C.E, Engineer Maniototo County Council, Naseby. William Gdfpie, Esq., Manager Inder and Guffie’s Hydraulic Sluicing Works, Mount Burster. G. P. Hilton, Esq., 0.E., M.E., Manager Mount Highlay Consolidated Q.M, Compmy, Limited, Hyde. James Mitchell, Eeq , Builder, Naseby. Hugh Wilson, Esq., County Clerk, Maniototo* Walter Inder, Esq., Naseby. John Laverty, Esq , Maniototo County Council, Hyde. Charles M'Gregor, Esq., M.E., Nenthorn. N. P, Hjorring, Esq., J.P., Mayor of the Municipality of Naseby. Forert Johnstone, Esq., Manager of the G wernment Waterworks, Naseby. Roreht Hosie, Esq., Saddler, Naseby. Jesse Mace Maisky, E q., Hotelkeeper, Lower Kyeburn. The Bank of New Zealand, Naseby, and J. A. Chapman, Eeq,, Princes street, Dunedin. Leslie A. Norman, Leven street, Naseby. Legal Manager and Offices : Leslie A. Norman, Naseby (with branch at Nenthorn). OF Bankers: Branches, Brokers:
The above Company has a'ready been registered under the provisions of “The Mining Companies Act, 1880,” and the proprietors, in order to provide for the energetic development of their highly valuable properties, have decided on issuing 20,000 shares for public subscription, calling up 2s per share as herein provided. The sale of these 20,010 shares will realise 12 000, which amount will, as the calls become due, be paid into the Company’s account at the Bank of New Zealand, INaseby, and devoted solely to the exploitation of the Company’s chims. In other words, not a s'ngle penny will be paid as promotion money, the original shareholdeisbeing content with seeing the amount so realised devoted to purposes solely connected with the working of their several claims, Thirty-eight thousand four hundred shares, paid up to 2s each, are retained by the original proprietors; and on 2s being paid on the 20,000 shares now offered to the public, these 38,400 shares will be equally liable for cal's in similar proportions. The Company has registered in its corporate name a machine site and three licensed holdings of 30 acres each (90 acres in all). In addition, it bo'da a registered water-race, heading from NonMmrn ore* k, which is undoubtedly the most valuable tight in the district IV' hj the L 2,000 realised from the sale of the 20,000 shares now offered for subscription, the Directors propose to erect a complete crushing plant for the reduction of the vast quantities of ore in their several claims, comprising a 10-head stamper battery, with suitable driving power, two large berdans, and probab’y a stonebreaker, with quicksilver tables, blanket stakes, and all other necessary gold-saving appliances. The p'ant will be added to as the claims become further developed, and it is considered probable that it will require a consideral le extension within a year or so from the time of commencing operationr. The phenomenally rich chaaoter of the quartz already obtained from the majority of the claims—notably the Eureka. Croesus, and Nenthorn Consolidated Companies’ holdings justifies the assumption that the g ddfield will, in the immediate future, prove one of the richest and most permanent yet discovered in the colony. This circumstance, combined with the improvement in the character of the lodes as greater depths are obtaind, warrants tbe Direo‘ors in believing that an ex ten -ion of the plant will be rendered necessary at a very rariy date, and in anticipating for shareholders vo’y substantial returns on tbe capital invented in the undertaking. In the claims owned by tbe Nenthorn Consolidated Company no less than 12 large goldhearing reefs ha vs been discov red. On two of these shafts have been sunk as under:—No. 1, 50ft in depth ; and No 2, 30ft- in each instance on stone valued at 2oz per ton. A crushing of unoioked ore from these excavations yielded 3oz lOdat of retorted gold, or, approximately, nearly 40.1 wt tier ton. M'Millan and Co., the original prospectors of the field, bad a trial crushing of five tons of stone tr m t'o different shafts in their claim, which v*eld<*d 1.3-iz of gold An interest in this claim has been recently sold for a large sura of money, and the proprietary are abont to erect a 10-stamper battery, with 'be necessary goldsaving appliances. Two of the present Company’s claims adjoin this holding on its western and the other on its eastern boundary. The ro<-f in the Prospectors’ (known as the Golden Crystal) Claim has, in addition to several others, been t-nced through the leaecs of the Consolidated Company. The Directors have no hesitation in stating that tbe Properties now offered comp-ebend feme of the richest, Inrg"st. ard most permanent lodes on the goldfield, and the prospects of the Company are not excelled by those of any other property yet opened at Nenthorn. Large bodies of auriferous ore, practically unlimited in quantity, abound in tbe Company’s leases, and the facilities for bringing stone to grass are unrivalled on the fie’d. The directors desire to draw special attention to the fact that the lories in the three cla ! ms can in every instance be tapped by 1-w-level tunnels giving close on 200 ft of backs. By this means the great expense involved in hoisting and pumping will be dispensed with ; and as the quartz can be trucked direct into the battery, instead of being carted long distances for reduction. a considerable saving will be effected thereby, O* mpared with the outlay necessitated m raising and nrling stone in other c’aims, the Consolidated Company will, by reason of the natural facilities avai’able, obtain an addi'ional profit on every ton of ore reduced, which may safely be computed at lOdwt at tbe least. The Croesus Company, which offered 20,000 shares for public subscription, was floated within 13 days, and since then surplus applications to the extent of 5,000 shares have been received; and the scrip, which was selling at 8d and Is, has gone up rapidly to 2s fid and 3s, and many sel'ers holding for a higher price. Contributing shares are saleable at a profit of 100 per cent, premium.’ The Nenthorn Consolidated Company's shares have, within a week, risen from 61 (nominal) to Is 6d. and are still rising, with numerous buyers in the market. To briefly eummari’o the advantages of the present proposal, the Directors would point out: That there are 12 large lodes of ai riferous ore within the 01 acres he'd by the Company; that the capital of the Company is small, tbe interest held bv the promote*-* bo’nv Heht. only representing 2s on 38,400 shares; that no promotion money Is paid for the transfers of the properties, the transferors being satisfied to see the amount derived from the sale of the 20.000 shares now offered for subscription expended in the vigorous development of the claims; that magnificent natural facilities, wh ! ch can be turned to valuable account at little cost, are available, enabling the Company to produce the maximum quantity of pay ore at, the minimum of cost; that instead of working the reefs by means of shafts, with all the attendant < xpensive paraphernalia of pumping and hoisting machinery, short tunnels at low levels can ho taken from the creek, by means of which the “ country ” will be adequately drained without any expense to the Company, and the quartz trucked direct into the battery, involving very little outlay in handling after it leaves the stopes; that the battery will be erected in tbe immediate vicinity of the works, so that no expenditure will be rendered necessary for carting the ore long distances for reduction ; and that the water-right alone, which is a very important feature of the scheme, is decidedly the most valuable one on the field, placing the Company in a position to crush ore at low rates. Taking all the circumstances into consideration. the Directors have no hesitation in recommending the undertaking as presenting a safe investment for capital, combined with the certainty that remunerative returns will be forthcoming at an early stage of the Company’s operations. Applications, accompanied by a deposit of 6d per share, to be forwarded immediately to any of the brokers of the Company. The share list will close so soon as the list is filled. As a large number of shares have already been subscribed for, immediate application is necessary, as in case of a surplus of applications those most promptly lodged will receive the most favorable consideration. No application 1 for less than 100 shares will be received by tt)o| brokers of the Company,
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Page 3 Advertisements Column 6, Evening Star, Issue 7951, 5 July 1889
Page 3 Advertisements Column 6 Evening Star, Issue 7951, 5 July 1889
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