MINING NEWS.

Golden Bay Argus, Volume VI, Issue 60, 22 July 1897, Page 4

MINING NEWS.

The following items of interest appear in a late issue of the Auckland Weekly News, from its London correspondent : “On the 30th April the directors of the Taitapu Gold Estates Company cabled to Mr G. Beetham, one of the directors who is now in New Zealand, as follows: There is a rumour here that unfavourable developments have occurred at the mine since the receipt of your cable on the 18th February; telegraph immediately an exact statement of facts.” On the Gth inst., the following reply was received : “ You can contradict the report ; it is quite unfounded.” Mr Beetham’s cable, dated February 18, above referred to, was sent by him after his inspection of the estate, and was to the following effect : “ I consider it a most valuable property. The developments at the Golden Bidge mine fully justify the expectations which have been formed.”

“A circular has been issued by the directors to the shareholders of the Taitapu Company to the effect that the joint manager of the Australasian Gold Trust (Limited), and the New Zealand Pioneers (Limited) cabled on the Ist inst., with reference to their blocks, Nos 2 and 3 (in which this company retain onequarter interest), immediately adjoining the G’ lden Ridge mine, “ The conditions and prospects of the workings are most encouraging.” The directors also state that on their enquiring the reason of the delay in landing machinery at Tnitapu, Mr Beetham had replied that he was forwarding machinery from Wellington to Taitapu during the following week, and expected to have all erected by the time the wire rope for the Tramway arrived, which would be about the beginning of July. He explained that unavoidable delay had arisen in the transport of machinery from Wellington to the mine owing to the prevalence of heavy gales.”