THE SILVER TELLURIDE MINES OF NEW ZEALAND.

Lyttelton Times, Volume CXV, Issue 16550, 14 May 1914, Page 5

THE SILVER TELLURIDE MINES OF NEW ZEALAND.

* Recognising the importance of good management in a company's affairs, great care has been taken to place the New Zealand Silver Tellurido Mines ;n capable hands. When tho promoters of the Ohinemuri Gold and Silver Mines, Limited, had received tho report on the mines by Mr E. F. Adams, and' had carefully investigated its merits, they lost ho time in securing his services as Mine Superintendent and Engineer at a very reasonable remuneration. "Although Mr Adams has had for twenty-five years , intimate knowledge of all tho mines on the Hauraki Peninsula, and knows tho geology of the country as well as any man alive, Ji% took nothing for granted when making his report on tho Silverstream reefs, but occupied two months in carefully surveying the land, investigating the character of the reefs, and carefully sampling and assaying, so as to present complete and first-hand information to lay before the directors. Ho has tho reputation of being a. man who will never over-estimate anything, he rather errs on the safe side. As an instance of this, he sets down tho cost of winning tho bullion at £2 per ton of ore in a mine where the haulage and drainage will be by gravitation, whereas tho actual cost in mines where everything has to bo raised' from great depths is 38s to 39s per ton (vide Talisman reports). Another matter of importance is the Board of Directors. In this instance the promoter has not rushed matters, but has left two seats to be occupied by leading" men of sound business reputation, who are investigating the matter. Their names will be announced immediately they aoco appointed. It is hoped to build up a good reserve on the same lines as has been adopted by the Waihi Goldmining Company, instead of adopting the usual mining custom of distributing all as the mine yields it, and trusting to luck for the rest. The Articles of Association have been framed so as to prevent the directors from selling tho company's property, unless by the consent of the shareholders in general meeting. The shareholders' interests have been carefully safeguarded, as the promoter looks upon this as an investment concern rather than as a speculative one.

Complete and illustrated Prospectuses can be obtained from any branch of the National Bank of New Zealand, Limited; or from the Secretary, or Broker (Mr David Whyte, Hastings, Hawke's Bay). 1898