RECENT MINING NEWS.

New Zealand Herald, Volume XIX, Issue 6484, 29 August 1882, Page 5

RECENT MINING NEWS.

DORIN'G the last week several new mining enterprises have been most successfully launched upon the market, and as in every case the subscribers are of the right sort, and a very large proportion of the money subscribed has been placed to the credit ol the different ventures, there is every prospect of the Thames goldfieldsreceiving better organised prospecting than it has done for many years paat. Foremost among the new companies is the Pinafore, the shares in which were rapidly taken up, and out of the capital subscribed, £500 is placed to the credit of the company. The prospects are considered so good that the shares rose from Is (par) to 2s 2d, and are likely to reach much higher quotations. The brilliant prospects of the Queen of Beauty mine, opening up as it apparently does almost a new goldfield, ha 3 caused all the adjacent ground to be taken up; and in this locality three companies have marked out mining leases, shares iu which were rapidly taken up by some of the best judges of the Thames goldfield. The first of these ventures, the Exchange, starts with a credit balance of j£s2i>. This money, judiciously expended, should lead to good results. The second, called the Queen of England, has £150 subscribed to pay preliminary expenses. This will be at once formed into a company, and as tne claim is being well placed for some of the known runs of gold in the flat, we should soon hear good accounts of this undertaking. The last floated comprises a large area of ground surrounding the Queen of Beauty and other claims, and is at present known a3 McLean's Leasehold. The list of shareholders looks as if the Thames miners believed there was a good show. As all of these ventures are in good hands, there is every probability of much better times for. gold-mining than we have seen for years, for the Grahamstown Flat has for a long time been acknowledged by experts to oiler the mo3t tempting prizes for really earnest and well directed prospecting, and this locality is in the near future likely to get such an exploration as is almost certain to lead to good results ; and certainly the show in the " Beauty" and Prince Imperial mines is quite sufficient warrant for the most sanguine expectations. It is most earnestly to be hoped that the directors of the Deep Level and Southern Cross Companies will see their way to thoroughly open up and prospect this very valuable portion of their property, for it is almost a certainty that the rich shots of gold from the Prince Imperial reefs will be found in these mines. There was a steady demand all day yesterday for Queen of Beauty shares. The market closed with buyers at 23s 6d. Lundon s (late Exchange) were much enquired for, and sales made-at Is 6d, with few sellers at 2s.