Page 2 Advertisements Column 1

Mount Ida Chronicle, Volume XVIII, Issue 1040, 7 November 1889, Page 2

PROSPECTUS. v / . PROSPECTIJS';,| ■' 01? '..;■ THE BREAK O' DAY Q.M. CO., (Limited), 'NENTHORN, OTAGO, N.Z. Registered uuder " The Mining Companies Act, ISBG." CAPITAL ... .... £16,000 In 32,000 Shares of 10s each.. Of which 22,000 v Shares* paid up to 4s, are retained "by the original chiimholders, the remaining 10,000 being offered to the public on the following, terms, viz. : -6d per. shave on Application, Gd per share oh Allotment, and six calls of not more than Gd per share at intervals of not less than one month. Of the proceeds of the 10,000 shares' offered to the public, as above stated, it 'is to be Piloted that no portion will find .its way into the pockets of the original olaimholders, as the' whole (after deducting preliminary •expenses and cost of floating) will be paid into the funds of the and devoted to the immediate and energetic development of the Company's property. — : — N.B.—lt is" expressly to be noted- that the ■ capital of this company has been made much smaller than that of other companies at Nenthorn recently placed upon • the market, and thus that shareholders will participate more.. largely in the dividends thereof in proportion "to the number of shares held. First Board of Directors : B. H. Browne, C.E., Naseby (Chairman).,. Hogh-Wilson, county clerk, Naseby. _.;".'; James A. Petrie, bank agent, Naseby. Robert HbsrE.saddler, Naseby. Michael Prendergast, miner, Nenthorn. Hogh MJAoxey, miner,Nenthorn. , •' B/nkers: . ; The Bank of New Zealand, Naseby and Nenthorn. — : — Broker : ■Si T. Brooke Hickson, Naseby and. Nen, .'■■ thorn.: .'■'.."'-.'.. '."' \_- '.'■■ ■.:—■ ,:; >&' : ': ; '■ Secretary : Samuel J. Evans, Leven-street, Naseby, and Nenthorn. above Company has already been . successfully formed, and 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.. In the event of 4s. per share being called up on the 10,000 shares now offered to the public, the 22,000 shares re-tained-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 corporate name, comprise three licensed holdings of 30 acres each (known as the Break o'Day, Close o' Day, and Jubilee claims), a valuable watertight, and amostconveniently situated machine site. In this property there are four distinct lines of, reef, known as Nos. 1, 2, 3 and 4. 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 inches in width (having ■widened to that from 12 inches at surface) .and carries first-rate prospects from top to bottom. "N0."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. No. 3 ateefis a 1 solid body of stone over 20 inches in thickness, carrying gold at the estimated rate oilJoz. to the ton. "-No. 4 reef, recently discovered, is, however, the richest of them all. It is a body of stone 18 inches in width, in which gold is plainly visible to the naked eye, and a trial crushing herefrom put through Messrs. Kincaid and M'Queen's battery recently yielded Coz. 3D YVT. OF GOLD PER TON. It should be* here mentioned that the property now under notice is adjoining, along -the line of reef, the Victoria Co.'s claim—; recently so successfully floated ; and that 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 the memory of the public that the test crushing eent to Ballarat by the Victoria Co. gave a gross yield of 2ozs. 19dwt. 2grs. to the ton of ore. The being so, it is but reasonable to suppose that the reefs should be just as valuable in the Break o' Day and Close o' Day claims, and they have been proved to a greater depth. With such a number of reefs discovered, and carrying such rich gold as they have been proved to do, the THrectors have no hesitation in recommending the venture as one of the best and bona-fide properties ever placed upon the market. Theproperty is very convenientlysituated, being within a quarter of a mile of the township, and the matter of machinery has .already lieen settled. In conjunction with the Victoria and Nenthorn Consolidated Companies, machinery lias been procured jfronnthe Pacifi-j Iron Works, San Francisco, Gil.,' for the joint use of all three, consiscing of 1 10-head stamper " Reliance " battery, 1 Gates rock-breaker, 2 Cliallongcore feeders, 3 True vamiers, 2 grinding and amalgamating pans and one settler. Tiie plant has arrived in the Colony, and is now being carted to Nenthorn for erection, by a practical mechanic engaged for the purpose in California, on a site convenient to all three companies' claims. The machinery mentioned is capable of crushing from 180 to 200 tons of stone per wee);, is specially recommended by Mr. H. A. Gordon, Inspector of. Mines, and will be far and away the moat complete crushing plant yet erected in New Zealand. The Nenthorn goldfield generally has now lieen so often described and referred to in terms of high commendation in the public prints that it is unnecessary to recapitulate its advantages at length here. Suffice it to .say that it is the opinion of miuing experts and others of wide and varied experience that the field will become one of the richest if not the richest—reefing districts ever discovered in the Colony. To the people of Duncdin and of Otngo generally the development of the field must result in immense benefits by stimulating trade generally, by giving .employment to large numbers of working men, and by anbnling a iield 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 Company's property is without doubt of the bes>t proved and richest on the field. There arc four <li.stinct lines of reef, well prospected, which are the continuation of those rutinin" through the Victoria Company's property, ami the faciliticu 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 6il pur fiharo, to be forwarded to the Secretary or Legal Manager ininiiuediatoly. The Share List will finally close on November 13th, and as nearly 4000 shares have already lieen applied f.ir early application is necessary. Allotment will be made as applications are reeehed, and no application for a li'Bß nuujber than 25 will 1*» entertained.