THE KAURI MINING CORPORATION.

New Zealand Herald, Volume XXXII, Issue 10010, 23 December 1895, Page 5

THE KAURI MINING CORPORATION.

A GREAT MINING ENTERPRISE,

CAPITAL £500,000.

COMPANY PRIVATELY SUBSCRIBED.

In another column we print a cable message from London conveying news of great importance to the colony and especially bo Auckland. A company has boon formed in London under the title of "The Kauri Mining Corporation," which is to take over the freehold lands of the Kauri Timber Company on the Thames Peninsula. These consist of about 36,000 acres. The largost block extonds from nearly the Tokatea mino at Coromandel, over to Whangapoua and Kuaotunu, while there are blocks at the back of the Thames goldfield, and at Tairua. Our goldfields news has shown that various attempts have been made of late to tako up ground on the land in question, but the Goldfields Department could give no title, as the lands were freehold. Now theso lands will be made available, and in such a way as will secure the development of their undoubted wealth. Wo believe that the new company propose to deal liberally with prospectors, and bo award them a substantial share in any discovery they may make. If a reef is found which fulfils the necessary tests there will be no difficulty or delay in obtaining the besb machinery for extracting the gold. Gold has been found on various portions of the blocks which are to be handed over to the now company, and at Opitonui (Lanigan's) and Owora, there are ten stampor web crushing plants. But the arrangements now made may bo said to bo tho first suitablo scheme for working. Practically, a new goldfiold has been added to the resources of Auckland. We expect that a large amount of prospecting will be dons during the summer, and that there will be disclosures of discoveries I that have been made, bub which have been concealed. The enterprise is one of the greatoab, if indeed it is nob absolutely the greatest, in tho line of goldfields development thnt has been inaugurated in the colonies. As discoveries aro made, subsidiary companies will be formed to work them. The Kauri Mining Corporation, which is intended to be a parent and developing company, will be the means of causing a very large amount of capital to bo devoted to the working of our goldfields, and will benefit them throughout their whole extent. Wo need scarcoly say I that the enterprise will be of great and immediate benefit to the Kauri Timber Company. Some of the blocks contain valuable kauri timber, and these are not to be prospected for a time.

The arrangements with respect to this company have evidently been fully and carefully made, as wo are informed in the cable message that it has already been privately subscribed.