PROSPECTUS. finHK GOLDEN CAUSEWAY Q.M. COMPANY OF NENTHORN, LIMITED. NENTHORN, CENTRAL OTAGO. (Registered under “The Mining Companies r Act, 1886.") ; CAPITAL ... ~~ ... L 12.500, In 20,000 Shares of 5s each, Of ■which 30,000 Shares, paid up to 3s 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 terms 6d per Share on application, 6d on 1 allotment, and the balance (viz., 2s) in calls of j and not exceeding 3d per share per month. Provisional Directors : John Elliott, Keq., Gladbrook Station, Middle- 1 match. ] R, H. Browne, Esq, Engineer Maniototo County Council, Naseby. Charles M'Gregor, Esq., M.E , Nenthorn, Hugh Wilson, Esq., ‘Mount Ida Chronicle,’ Naseby, James Mitchell, Keq., Builder, Naseby. John Lavc-rty, Fsq., Storekeeper, Hyde. Thomas Moodie, Esq., Perpetual Trustees Com- 1 pany, Dunedin. J, O. Buckland, Esq , Tumai, Waikc.uaiti. Janies Whitten, Fsq, M.D., F.R.0.5., Naseby. Robert M'Bride, Esq., Mine Manager, Nenthorn. Peter Harrington, E-q„ Farmer, Ophir. A. B, Kitchener, E=q., The Grange, Waihemo, Bankers : Colonial Bank of New Zealand, Nenthorn. Solicitor : Alfred O. Hanlon, Princes street, Dunedin. Consulting Engineer : L. O. Beal, Esq., 0.E., M.E., Princes street, Dunedin. Brokers; Walter Hislop, Esq., Perpetual Trustees Company, Dunedin. Leslie A. Norman, Esq., Naseby. J. A. Chapman, Esq , Dunedin, Alexander Cross, E.q , Invercargill, Legal Manager and Offices : Leslie A. Norman, Main street, Nenthorn. 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 various valuable properties, have decided on issuing 20,000 shares for public subscription, calling up 3s per share as herein provided. The sale of these 20,0f<0 shares will realise 1.3.000, which amount (less commission, etc., for placing them on the market) will, as the calls become due, be paid into the Company’s account at the Colonial Bank of New Zealand, Nenthorn, and be 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 thousand shares, paid up to 3?, ate retained by the original proprietors; and on 3s being paid on the 20,000 shares now offered to the public, these 30,000 shares will be equally liable for calls in similar proportions. The Company has registered in its corporate name three licensed holdings of 30 seres each (90 acres in all). In addition, it holds a registered water-race, heading from Nenthorn and Hartstongc’a Creeks, which is undoubtedly the most valuable right in the district. With the L 3.000 realised from the sale of tho 20,000 shares now offered for subscription, the Directors propose to erect a complete crushing plant for the reduction of the large quantities of ore in their several claims, comprising a 10-head stamper battery, with suitable driving power, two large berdans, and probably a stonebreaker, with quicksilver tables, blanket strokes, and all other necessary gold-saving appliances. The plant will be added to as the 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 operations. Tho special mining correspondent of the ‘ Otago Daily limes,’ a well-known expert of considerable experience, in a series of elaborate and carefully compiled articles, states (1) That, in his opinion, the Nenthorn reefs will prove to be the Most Valuable Deposits in Otago, a belief which is concurred in by Victorian miners. (2) That the underlie of the lodes is of a very small angle, varying from Ift to IJft per 10ft in vertical depth, the deposits Assuring the strata of the foliated schist at right angles—c’rcurastances which have n very important bearing on tho future progress of the field, proving, as they do, that they are not mere Laminations of Auriferous Ore. (3) And that exploring operations up to the present tend to prove in a conclusive manner that tire Reefs Widen as they gain in Depth.
Some six different tiial crushiogs of stone have been taken from various reefs on the field up to the present, and leaving out the Eureka test of a ton of atone, which yielded lOoz of gold, it is found that the average value of the quartz so far is about 2oz lOdwt of gold per ton. In inviting applications for shares in the Company, the Board of Directors would draw attention to the following ascertained facts (1) That the reefs in the Company’s claims are, beyond ihe question of a doubt, the continuation of those now being worked with such highly satisfactory results by THE CECE3US, BLUB SLATE, and VICTORIA COMPANIES. (2) That the leases now offered adjoin the properties of the Blue Slate Company on their western boundary, which in their turn are contiguous to the Croesus Company’s claims. (3) That the lodes in the Blue Slate Company’s claim, a trial crushing from which yielded at the rate of 2oz Bdwt per ton, have been traced through the whole length of the leases held by the Golden Causeway Company. (4) That at one point a shaft (the deepest on the field) has been sunk to a depth of nearly 70ft on one of the lodes, with particularly satisfactory results, the reef, when work was suspended owing to the influx of water, showing splendid gold. (5) That, as in the case of the Nenthorn Consolidated Company, unusual natural facilities are available for working the lodes, which can at various points be tapped by low-level tunnels driven in from a deep gorge which runs between and parallel with the couise of the lodes. (6) That so far three good reefs have been found on the properties, from which unlimited supplies of pay-ore can be obtained. (7) That the Company own a splendid battery site, on which the Directors recommend the erection of an efficient milling plant, driven dming a portion of the year by a Felton water wheel, and dming the dry portion of the summer months by a powerful steam engine. (») That the Company’s water race is one of the most valuable on the field, affording at the works a vertical pressure of about 45ft, and during seven or eight months of the year a plentiful supply of water, which is lifted by two branch races from the Nenthorn and JJartstonge’s Creeks. (fl) And that the properties now offered are undoubtedly some of the most valuable on the field.
Under all the circumstances, the Board of Directors have no hesitation in recommending the present scheme as a thoroughly legitimate one for the investment of capital, offering, as it does, the prospects of early returns and remunerative dividends. Applications, accompanied by a deposit of 6d per share, to be forwarded immediately to any of the brokers of the Company. THE SHAB E-LIST WILL POSITIVELY CLOSE ON AUGUST 26. As a large number of shares have already been subscribed for (over 7,000), immediate application is necessary, as in caso 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 brokers of the Company. MONEY. MONEY TO LEND on approved Freehold Securities, STOUT AND MONDY, Solicitors 123 Princes street, Dunedin MONEY To Lend (LIOO up to L 3.000) on Freehold Security, at 7 per cent,; also, several Sums to Lend on Bills of Sale at our rent rates, Apply to Jas, Whyte, Rattray street, Dnnedln. The perpetual trustees, estate AND AGENCY COMPANY OP NEW ZEALAND (Limited) has Money to Lend, on Freehold Seoarlty. WALTER HISLOP, Manager,
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Page 4 Advertisements Column 5, Evening Star, Issue 7979, 7 August 1889
Page 4 Advertisements Column 5 Evening Star, Issue 7979, 7 August 1889
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