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PROSPECTUS. tHE GOLDEN CAUSEWAY Q.M. COMPANY OF NENTHORN, LIMITED. NENTHORN, CENTRAL OTAGO. (Registered under "The Mining Companies Act, 1886.") CAPITAL ... L 12.500, In 50,000 Shares of 5a each, Of which 30,000 Shares, paid up to 3d each, are retained for the interests which have already been transferred to the Company by the original shareholders, the remaining 20,000 being ofieied for Publio Subscription on the following terms :—6d per Share on application, 6d on allotment, and the balance (viz., 2d) in calls of and not exceeding 3d per Bhare per month. Provisional Directors : John Elliott, Esq., Gladbrook Station, Middlemarch. 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, Esq,, Builder, Naseby. John Laverty, Ksq., Storekeeper, Hyde, Thomas Moodie, Esq., Perpetual Trustees Com- , pany, Dunedin. J. O. Buckland, Esq., Tumai, Waikouaiti. James Whitton, Esq, M.D., F.R.C.S., Naseby. Robert M'Bride, Esq., Mine Manager, Nenthorn. Peter Harrington, E-q., Farmer, Ophir. A. B. Kitchener, The Grange, Waihemo. Bankers: Colonial Bank of New Zealand, Nenthorn. Solicitor : Alfred O. Hanlon, Princes street, Dunedin. Consulting Engineer : L. O. Beal, Esq., C.E., M.E., Princes street, Dunedin. Brokers : Walter Hielop, Esq., Perpetual Trustees Company, Dunedin. Leslie A. Norman, Esq., Naseby. J. A. Chapman, Esq , Dunedin. Alexander Cross, Etq , Invercargill. Legal Manager and Offices : Leslie A, Norman, Main street, Nenthorn. The above Company has a'ready been registered under tbe provisions of " The Mining Companies Act, 1886," 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 33 per share as herein provided. Tho sale of these 20,030 shares will realise L 3.000, which amount (less commission, etc., fjr placing them on the market) will,- as the calls become due, bo paid into the Company's account at the Colonial Bank of New Zealand, Nenthorn, and be devoted solely to tho exploitation of tbe Company's claims. In other words, not a s ; ngle penny will bo paid as promotion money, the original shareholder being content with seeing the amount so realised devoted to purposes solely connected with the working of their several clahm Thirty thousand shares, paid up to 3j, are 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 iu similar proportions. The Company has registered in its corporate name three licensed holdings of 30 acres each (90 acres in all). In addition, it holds a registered water-race, heading from Nenthorn and Haitstonge's Creeks, which is undoubtedly the most valuable right in the district. Wich tho L 3.000 realised from the sale of tbe 20,000 shares now offered for subscription, the Directors propose to erect a complete crushing plant for tbo reduction of the large quantities of ore in their sevcial claims, comprising a 10-bcad stamper battery, with suitable driving power, two large berdans, and probably a stonebreaker, with quicksilver tables, blanket strakes, and all other necessary gold-saving appliances. The plant will be added to as the claims become further developed, and it is considered probible that it will require a considerable extension within a year cr to from the timo of commencing operations. The special mining correspondent of tho ' Otago Daily limes,'a well-kuown expeit of conisideiable experience, in a scries of elab)rate 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 tho undetlie of the lodes is of a very small angle, varying from Ift to ljft per 10ft in vertical depth, the deposits 6ssuring the strata of the foliated schist at right angles—c"rcumstances which have s 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 the Reefs Widen as they gain in Depth.

Some six different tnal crushwgs 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 stone, which yielded 10. z of gold, it is found that the average value of the qunrtz 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 : (t) That the reefs in the Company's claims are, beyond the question of a doubt, the continuation of those now befog worked with such highly satisfactory results by THE CBOE9US, BLUE 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) Thit the ledes 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 satu factory results, the reef, •Jfhen work was suspended owing to t\ e influx of water, Bhowingßplendid gold. (5) That, as in the case of the Nenthorn Consolidated Company, unusual Datural facilities are available for working the lodes, which can at various points be tapped by low-level tunnels drivtn in from a deep gorge which runs between and parallel with the couisc of the lodes, (6) That po 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 duiing a portion of the year by a Pelton water wheel, and du'ing 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 trm works a vertical pressure of about 45ft, and during seven or eight months of the year a plentiful Mipply of water, which is lifted by two branch races from the Nenthorn and Uartstonge's Creek?. (9) And that the properties now offered are undoubtedly some of the most valuable on the field. Under all the circumstances, the Boaid of Directors have no hesitation in recommending the present scheme as a thoroughly legitimate one for the investment of capital, offering, as it doec, 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 SHABE-LIST WILL POSITIVELY CLOSE ON AUGUST 2G. As a large number of shares have already been subscribed for (over 7.0C0), immediate application is necessary, as in case of a surplus of applications thoso 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, ONEY TO LEND on approved Freeho'ir? . Securities, STOUT AND MONDY, Solicitors 123 Prinoei utrest, Danedln. MONEY To Lend (LIOO up to L3,000> on Freehold Seourity, at ? per cent, ; also, icveral Sums to Lend on Bills of Sale at our tent rates. Apply to Jat. Whyte, Rattray itreet, Dunedln. IHE PERPETUAL TRUSTEES, ESTATE L AND AGENCY COMPANY OP NEW ZEALAND (Limited) has Money to Load, on Freehold Seourity. WALTER HISLOP, Manner. j

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https://paperspast.natlib.govt.nz/newspapers/ESD18890814.2.38.5

Bibliographic details

Page 4 Advertisements Column 5, Issue 7985, 14 August 1889

Word Count
1,279

Page 4 Advertisements Column 5 Issue 7985, 14 August 1889

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