MEETING OF SHAREHOLDERS.

New Zealand Herald, Volume XIX, Issue 6422, 17 June 1882, Page 6

MEETING OF SHAREHOLDERS.

Tikknan's (Tiki). — Tho first annual meetin" of shareholders was held yesterday, Mr. A." Saunders in the chair. From the directors' report, we tako the following The directors regretted that the operations carried on had not been more succcssful. During tho year 30 tons of quartz were crushed for a yield of 2GSozs. 12dwts. of gold, which realised £70-1. This sum was expended in working the mine. Operations wero then suspended until the shareholders should bo consulted. The prospects of the mine are, howovor, encouraging. The report of tho mine manager was read, from which, it appeared that No. 1 drive was in 118 feet, and 95ozs. of gold wero obtained from the reef at tho mouth of tho drive. This was previous to tho formation of tho company. At 100 feet tho rcof was 2 feet wide, showing strong colours of gold. Seventeen tons of stone wero stoped, and yielded 1360z5. Twenty-fivo feet further, towards tho Union boundary, GOlbs. of gold-picked stono was obtained from tho out-crop. No. 2 drive is on the main reef. Picked stone got. Good stono found in No. II and No. 4 drives. Tho report was adopted. Tho following directors wero elected for tho ensuing year: Messrs. Saunders, Brodie, Gibbs, Harris, and J. Frater.