MINING NEWS.

New Zealand Herald, Volume LXV, Issue 19958, 29 May 1928, Page 7

MINING NEWS.

the alburnia company. RECONSTRUCTION SCHEME. At an extraordinary general meeting of shareholders of the Alburnia Gold Mining Company, held yesterday, it was decided that the company should bo reconstructed. The company will accordingly bo voluntarily wound up, the secretary, Mr. H. Gillllian, being appointed liquidator. A new company, the Alburnia Gold Mining Company, Ltd., will be formed, the articles of association having been approved-by tho present directors. The liquidator will work under an agieement with the new company, which was approved at the meeting. REPORTS OF MANAGERS. New Waiotahi.—The drive hillward for the Waiotabi-Cambria reef has , been advnnr.ed two feet for the week. Owing to a breakaway of some of the timbers in a heavy portion of the level, most of the tinie has been occupied in securing these timbers, a work that is still under way. The drive toward the Caledonian reef ha* been advanced eight feet for the week. The country penetrated is most favp*irabl© lor golci should a reef be met with. Moanataiari. —The rise has been timbered up and holed through to the level. Ihe level has been cleaned out up to the face and new launders put in to carry the water from the face. A start has been mad© to cut out the chamber for the winding-winch, and good progress is being made. Alburnia.—The drive going north on the droppei - has been advanced a further 17ft., making a total distance of 404 ft. out from the crosscut/ The leader is maintaining its size about 12in. in width, and is composed of bands of quartz showing a good deal of silica. The mineral in th© stone, is of a good quality, and the country encasing the reef ia of a firm description.