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PROSPECTUS. Prospectus OP THE NENTHORN CONSOLIDATED Q.M. COMPANY, LIMITED. NENTHORN, CENTRAL OTAGO. (Registered under “The Mining Companies Act, 1886,") CAPITAL L 14.600, In 58,400 Shares of 6s each, Of which 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 offeted for Public Subscription on the following terms6d per Share on application, fid on allotment, and four calls of 8d each. Provisional Directors : Richard H, Browne, Esq-, 0.E., Engineer Maniototo County Council, Naseby. William Qgffie, Esq., Manager Inder apd Ouffie’s Hydraulic Sluicing Works, Mount Burster, G. P. Hilton, Esq., 0.E., M.E., Manager Mount Highlay Consolidated Q.M. Com* I pany, Limited, Hyde. James Mitchell, Esq., Builder, Naseby. Hugh Wilson, Esq., County Clerk, Maniototo* Walteb Indee, Esq,, Naseby, John Lavertt, Esq., Maniototo County Council, Hyde. , - Charles M’Gbeqoh, Esq., M.E , Nenthorn. N. P. Djobbing, Esq., J.P., Mayor of the Municipality of Naseby. Robert Johnstone, Esq., Manager of the Government Waterworks, Naseby. Robert Hosie, Esq,, Saddler, Naseby. Jesse Mace Maisey, E.q., Hotelkeeper, Lower Kyeborn. Bankers : The Bank op New Zealand, Naseby, and Branches, Bbokebs ; J. A. Chapman, Esq., Princes street, Dunedin. Leslie A. Norman, Levon street, Naseby. Legal Manager and Offices : Leslie A. Norman, Naseby (with branch at Nentborn). Tho above Company has already been registered under the provisions of “The Mining Companies Act, 1886,” 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 20,000 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, isaseby, and devoted solely to the exploitation of the Company’s claims. In other words, not a single penny will be paid as promotion money, the original shareholders being 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 np 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 iu similar proportions. The Company has registered in its coipo-ate name a machine site and three licensed holdings of 80 acres each (90 acres in all). In addition, it bolds a registered water-race, heading frpm Nentborn creek, which is undoubtedly the most valuable right in the district, Wvh 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 iu their several claims, comprising a 10-head stamper battery, with suitable driving power, two large berdans, and probably a stonebreaker, with quicksilver tables, blanket stiakes, and all other necessary gold-s&ving appliances. The plant will be added to as tho claims become further developed, and it is considered probable that it will require a considerable extension within a year or so from the time of commencing operation?. The phenomenally rich character of the quartz already obtained from tho majority of the claims—notably the Eureka. Croesus, and Nentborn Consolidated Companies’ holdings justifies the assumption that the g >ldfield 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 obtain! d, warrants the Directors in believing that an extension of the plant will be rendered necessary at a very early date, and in anticipating for shareholders very substantial returns on the capital inverted in the undertaking, In the claims owned by the Nentborn Consolidated Company no less than 12 large goldbearing reefs have been discovered. 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 unpicked ore from these excavations yielded 3oz lOdwt of retorted gold, or, approximately, nearly 40dwt per ton, M’Millan and Co., the original prospectors of the field, had a trial crashing of five tons of stone from t«o different shafts in their claim, which yielded 13oz of gold An interest in this claim has been recently sold for a large sum of money, and the proprietary are abont to erect a 10-stamper battery, with the necessary goldsaving appliances. Two of the present Company’s claims adjoin this holding on its westernand the other on its eastern boundary. The reef in the Prospectors' (known os the Golden Crystal) Claim has, in addition to several others, been traced through the leases of the Consolidated Company, The Directors have no hesitation in stating that the Properties now offered comprehend some of the richest, largest, and 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 nnlimited in quantity, abound in the Company’s leases, and the facilities for bringing atone to grass are unrivalled on the field. I The directors desire to draw special attention to the fact that the lodes in the three claims can in every instance be tapped by low-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, Gmpared with the outlay necessitated in raising and milling stone in other claims, the Oonsclidated Company will, by reason of the natural facilities availably obtain an addiiional profit on every ton of ore reduced, which may safely be computed at lOdwt at the least. The Croesus Company, which offered 20,000 shares for pnblio subscription, was floated within 13 days, and since then snip’us applications to the extent of 6,000 shares have been received; and the scrip, which was selling at 8d and Is, has gone np rapidly to 2s fid and 3s, and many sel'ers holding fora 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 6i (nominal) to la fid. and ate still rising, with numerous buyers in the market. To briefly summarise the advantages of the present proposal, the Directors would point ont: That there are 12 large lodes of auriferous ore within the 90 acres he'd by the Company; that the capital of the Company is small, the interest held by the promoters being light, 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 derivrd from the sale pf the 20 000 shares now offered for subscription expended in the vigorous development of the claims; that magnificent natural facilities, which, can be turned to valuable account at little coat, are available, enabling the Company to produce the maximum quantity of pay ore at the minimum I 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 be 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 loaves the stopes; that the battery will be erected in the 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, wh’ch is a very important feature of the scheme, is deo’dedly the moat valuable one on tho field, placing the Compaty in a position to crash ore at low rates. Taking all tho 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 fid 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 for less than 100 shares will be received by the bickers of the Company.

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https://paperspast.natlib.govt.nz/newspapers/ESD18890709.2.41.3

Bibliographic details

Page 4 Advertisements Column 3, Issue 7954, 9 July 1889

Word Count
1,460

Page 4 Advertisements Column 3 Issue 7954, 9 July 1889

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