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MINING.

WAlfll JUNCTION SHARES. Press Association —By Telegraph—Copyright. LONDON. January 22. WaUii Junctions: Buyers 23s 9d. sellers 26s 3d. MOUNT LYELL. Improvement is shown by the Mount Lyel! M. and I*. Company's figures of output for the period ended December 23. The treatment, of 27.768 tons of all classes of ore- shows an increase of about 100 tons over the corresponding; figures of the previous period, and the output of blister coppoi v\ is V)") tons oi an numso ol 10 tons. The contents of the blister vm.k < oiiespondni_,l\ ln._h.oi in ulnih connection if is intoiosting to note- that the l qviaxitixy oi- >soxt,Vi t_,;veV- ore- treated s\u>w«d ttv nil to isc oi itlO tons whilo there was a decrease, of about 200 tons in the Mount Lyell quota. The figures together with tho comparison with pievious lotuins s<i\e lo emphasise tlu tut th it tho toniDim hn*j bei n able, to maintain the normal scale of vi oihmg flt the l eduction \\ork~> d<spite tho war * \J \\ IIMIRI \- *t itcd vestcrda a. ne \ <onipiv\ c Ik 1 tin B >itm ns Con <Med Geld Mine- Itd is hem™ flrs> «d no ob,e<ts ot the lorap m\ being \ i i qune i oik and furthii dr el jp tie riming priviltKcs md ighG sit ittd niai Oiplesion, the mining; nchts iin lpiwng th" veil known quut/ c]inn—-nameh th" i eiv ( n ->s, flopeiul \\ choice Homev,aid b >und Just-in-Time, and Italian Gullv (ironri of Claims (ontaniiiiL, "even spe< d ilamis inrl oic piospei ti ig hme m ill 040 uiis to_;c*hoi wiMi i w iter n_,ht for 15 heads from Boatman's Creek ; also a b utci c ite 10 st imp bitt r\ <vmd" j ] inl. oil en_; ne, and 25 ihj nns steel ti in \ ly at It inn Gullv \u ess to thc-o pi i ixi tiii is hv g ind drat iohl from Cronadun railvvav station, a dis tanee of four to five miles. Tlie Go \einn ent hi e thoroujl ly iiu instigated the proposal, and, after most exhaus ti\r tests dended to sub=idi e the ten turc to the extent of £IO,OOO, which, the promoters consider, gives the- venture the hall-mark of genuineness and lifts it above the range of mero experiment or adventure. It is not a prospecting, but a developmental concern. Practically every mine in the Reefton district dosed down .several years ago as a result of a theory propounded by experts that, the reefs in tho Reefton district would not live down to a greater depth than 500 ft. Mr David Ziman, representing London speculators, acquired two or three properties in Reefton, and put, tlie theory to the test by sinking down another 200 ft, with the result that the reef was discovered to be goinc stronger than, ever, and the quartz was so rich in plares that, it was sent to tb» surface, in sacks. ■Since then ail the mines have been set on their feet attain as a result of this experiment. Dr Henderson, Dominion Geologist, states that the mines in Beefton micdit be worked down to a vertical depth 'of 5,000 ft,. T))p capita] is divided into 66.000 sharps of £1 each, of which 22.000. deemed to be fully paid up, arc to be allotted to the vendors as part consideration for tho pur- ! chase of the properties to be. acquired, i and the balance of the consideration will Ibe the payment in cash oi' £5,000. The sum of £4.000 out of th-i .said £5,000 is not to be paid, except cut of profits, until at least £20,000 of share capital has been actually paid up, and tho said 22.000 fully paid up shares are not to be sold or transferred by the, vendors until the whole of the 44,000 contributing shares have been subscribed for and duly allotted. Tho balance, 44,000 shares, are to be offered to the public for subscription as follows :—2s per share on application; Is 6d per share on allotment : and the balance in calls not ex- j eeediug Is ner share at intervals, of not I less than one month. The provisional directors are Messrs D. .!. Cameron, John Hespcy. anil R. L. S-"oft. RETURNS. Red Jack's: 310~. 127 hours. Rise and Shine No. 2: 470:-. lOdwt. 139 hours. Tin 1 master of flics Golden Bed j dredge, in his weekly report, stares i that- ho has moved fit- pegs and head j lines so as t-o enable him to dredge tho i small freehold lately acquired and ! which adjoins tho claim, and into which j the auriferous wash is lending:, hut as i a. largo quantity of top stuff would j have to lio removed ho expected the j return of gold for this week would not lio quite so good. ! In the Warden's Court tho Wailii I Grand Junction Company's application | for 12 months' protection for several j j special sii<--s wa ~ granted; .also that, off j the Waihi Company for a saw-rnill area. ! I and iwo reserves of 200 ar-ms each, i Tho crosscut at No. jA level. WatchI man nine, Thames, has been advanced | 311 ft. Tho re of i> ;i, large- body of ore. J The kiM f-dt <>f driving: has penetrated ! quart/., and in l!n> last, loft, Rome ] sulphides woi-'"-' scon. Stoping was in i progress on (ho Middle Parallel roof ! last; week, and payable- ore was being ! produced. .Preparations for rising on it lie East, Parallel roof from ih>>. No. 1\ I level wore in hand. h\ ibe crosscut | the Windfall was penetrated. The | loot wall 'portion, was carrying; s-:m;e j The draining up of the surface drive > in tlie Cnidon Crown .section. Waiotahiii mini l . Thames, was proceeded with last week. Tho drive was still, broken I down, and required timbering. f

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Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/ESD19150123.2.53

Bibliographic details

MINING., Evening Star, Issue 15708, 23 January 1915

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965

MINING. Evening Star, Issue 15708, 23 January 1915

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