Page 2 Advertisements Column 2

Mount Ida Chronicle, Volume XVIII, Issue 1029, 24 August 1889, Page 2

MINING NOTICESPROSPECTUS rHE BREAK C DAY Q.M. CO. (Limited}, NENTHORN, OTAGO, N.Z. ~ CAPITAL —. ... £16,000, In 32,000 Shares of 10s each. Of -which 22,000 Shares, paid up to 4s, are retained by the original clainiholders, the remaining 10,000 being offered to the public on the following terms, viz. : (id per share on Application, 6d per *hare on Allotment, and six calls of not more than 6d per share at intervale of not less, than one mouth. It is intended to call np 4s per share on the 10,000 offered to the public, as above stated, and it is to be noted that no portion thereof will find its way into the poekets of the original claimholders, as the. whole (after deducting preliminary expenses and cost of floating) will be paid into the funds of the Company, and devoted to the immediate and energetic development of the Company's property. Provisional Directors ■:.■■:.,'■ Walter Hislop, Perpetual Trustees Estate and Agency Co., Dunedin. James Mitchell, builder, Naseby. Samuel J. Evans, chemist, Naseby. Hugh Wilson, county clerk. Naseby. Jesse Mace Maisey, hotelkeeper, Kyebarn. Hugh M'Auley, miner, Hyde. M ichael Pre n dergast, miner, Hyde. Robert Hosie, saddler, Naseby. John Dowling, miner, Hyde. Wm. Gilbert Mouat, miner, Bendigo. ; .Bankers : The Bank of New Zealand, Naseby and Nenthorn. Brokers: Thomas Grose, Dunedin. Andrew Hamilton, Dunedin. J. T. Brooke Hickson, Naseby and Nenthorn. Secretary: J. T. Brooke Hickson, Earn-street/ Naseby, and Maiu-st., Nenthorn. THE above Company has already been successfully formed, and is now being registered under " The Mining Companies Act, 1886," and the proprietors, in order to provide for the immediate development of their undoubtedly valuable property, have decided on issuing 10,000 shares for public subscription, calling np 4s per share as above stated. On the sum of 4s per share being paid up on the 10,000 shares now offered to the public, the 22,000 shares retained by the original proprietors will become equally liable for calls in the same proportion. The properties owned by the Company, and to be duly registered in its corporoie name, comprise three licensed holdings of 30 acres each (known as the Break o' Day, Close o'Day, and Jubilee claims), a valuable water right, and amostconveniently situated machine site. In this property there are two distinct lines of reef, known as No. 1 and No. 2. No. 1 reef has been sunk upon in the Break o' Day claim to a depth of 56 feet, at which level the reef is 18 iuches in width (having widened to that from 12 inches at surface) and carries first-rate prospects from top to bottom. No. 2 reef has been sunk upon in the Close o' Day claim to a depth of 30 feet, where it is 2 feet in width, carrying even better prospects than No. 1. It should be here mentioned that the property now under notice is adjoining, along thejine.-of.-reef, -the-JViofcoria Go. J s claimrecently so successfully floated ; and that i the same lines of reef in that claim run through the claims referred to, the latter being situated to the east of the Victoria Co.'s claim ; and it will be fresh in tha memory of the public that the test crushing sent to Ballarat by the Victoria Co. gave a tjross yield of 2ozs. 19dwt. 2grs. to the ton of ore. The beingso, it is but reasonable to 3iipposc that the reefs should be just as valuable in the Break o ! Day and Close o' Da 3' claims, and they have been proved to a greater depth. The third claim which goes to make up the property of the Company has not yet beensunk on, biitthe reefs havebeen proved torunright through it, and it is the opinion of those who have worked in these claims that were they thoroughly prospected one other line of reef at least would be discovered. and, should it be considered desirable or expedient so to do, a main adit could be conveniently driven giving from 50 to 100 'eet. of backs. The reefs have been horoughly prospected, and a comparatively I jnlull amount of work is all that is necessary to put the claim in thorough working order and commence getting stone out for crushing. Negotiations with reference to machinery are now pending, and it is believed that most satisfactory arrangements in this connection will be completed in the course of a few weeks. The Nenthorn goldfield generally has now been so often described and referred to in i terms of high commendation in the public j prints that it is unnecessary to recapitulate I its advantages at length here. Suffice it to / say that it is the opinion of mining experts l and others of wide and varied experience j that the field will become one of the richest if not the richest—reefing districts ever ■ discovered in the Colony. To the people of Dunedin and of Otago generally the development of the field must result in immense bej.efits by stimulating trade generally, by giving employment to large numbers of working men, and by affording a field for the investment of capital so near their own doors that the benefits to shareholders will be twofold—not only direct, but also indirect. The Break o' Day Co. 's property in particular is without doubt one of the best proved and richest on the field. There are two distinct lines of reef, well prospected, which are the continuation of those running through the Victoria Company's property, and the facilities for working are such that the greatest amount of gold with the least expenditure of labor should be the result of the Company's operations. Applications, accompanied by a deposit of 8d per share, to be forwarded to 1 the Secretary or auy of the Company's Brokers immediately. Prospectuses, with forms of application, may be obtained from the Secretary, any of the Brokers of the Company, or any Otugo branch of the Bank of j\ew Zealand. The Share List will close so soon as the requisite number of applications shall have been received, and as a largo number of shares have been locally subscribed prompt application is necessary. No application for less number than 5C shares will be received by the Company's Brokers. In the event of a surplus of applications, preference will be given to those most promptly lodged. N.JJ — Jt is expressly to he noted thai the capital of this cimpany has been made muck smaller than that of other companies at Nen/hom recently placed upon the market and thus that shareholders icill participate more largely in the dividend's tlwreqf in prnpnrtinn to the number of 4h/rri>t held.