COROMANDEL.

New Zealand Herald, Volume VIII, Issue 2466, 20 December 1871, Page 3

COROMANDEL.

[FBOH OUR OWX CORRKSFONDENT.] December 19,1571. The Pride of Tokatea deposited in tho Bank of New Zealand, yesterday, Gi cwt. of very fine specimens, which tho manager estimates will yield from GOO to 700 ozs. of gold. These are not obtained from the leaders of tho late Kaiubow End, but from another leader in the same ground, which varies from one to six inches wide. These specimens, and the quick manner in which they have been got., have given an impetus to the shares in this company. and yesterday any quantity of them could have been sold at 45., and to-day tho few holders here are asking still higher prices.

The Tokatea Company are still getting out gold in their stopes and drives, and the mine continues to yield well. The stuff at the two batteries is showing up well, and there is every prospect of a good dividend being paid again before long. Tenders are out for the erection of a battery on a site near the Green Harp claim, nnd it is calculated that it will be at work in two months from the present time. It will not be at work one moment too soon, for there is now a large quantity of stuff waiting to be crushed, and no mill idle to put it through.

Tenders are also called for the ercction of a battery on the Kennedy Bay side for the Bismarck Company. This will rn»rk a new era for the claims on that side of the range, pnd -will enable a great deal of ground to be worked which has been for a long time idle and profitless. The John Bull drive is now in about thirty feet from the tunnel, and tho contractor expects to be finished by Thursday evening. If the G-reen Harp reef is not met with in the present drive, it is the intention of the directors to drive towards the Pacific boundary before continuing the present drive. I heard, a few days ago, that Mr. "Wright, C.E., bad visited the Green Harp, and examined the leader. He expressed a confident opinion that so large and fine a leader would not be cut off, but would continue its course right through the John Bull ground. Shares, in consequence of this opinion, havo risen in value, and now are bought freely at 2s. 6d. to 35., with very few sellers, the shareholders holding on until the Green Harp leader is cut.

The Waverley lease has again been getting come very good stone, in which gold is freely seen. The manager expresses a very high opinion of this ground, and says that it only wants a road to be one of the best claims on the hill.

A reward lias been offered for the discovery of the persons who are supposed to have " salted" the Masonic trial crushings. I wns talking to a miner who knows this ground well, and he is of opinion that the stuff was not salted, but *1.1:1?- tliey hit, in tho first cousliing, on a rich patch,.aud thit, if the company continue to work tho groundj it will yet pay them well. I sliould like to se* the matter settled one way or the otlier, for salting crushings is doing a great harm to tile field.