CHAMPION COPPER MINING COMPANY.
(UNITED PRESS ASSOCIATION.'. Nelson, May 27. At a largely attended meeting of shareholders in the Champion Copp-r t’omp-.ny, at f which the Canterbury shareholders were represented, Mr Heinrich made a statement which showed that the average yield of the ora was 7± per cent., and that the area <>f ore exposed in the levels was suffirient to give 26 tons per day to smelt after 10 months ; that after allowing all expenses, including the opening of the mine, the profits wilt he £3OO per mouth at the present low price ot copper. It also stated that if the level in course of opening out showed the same extent of ore ns that already opened, there would be enough to keep the smelting going another 10 or 12 months, while there was no reasonable doubt that tbe ore bodies continued down. A proposal to raise £15,000 by the issue of preference shares, to erect more roasting kilns, &c., and pay the existing liabilities, security being the mine, &o , and the unpaid capital of the Company, was unanimously approved.
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Bibliographic details
New Zealand Mail, Issue 744, 4 June 1886, Page 29
Word Count
181CHAMPION COPPER MINING COMPANY. New Zealand Mail, Issue 744, 4 June 1886, Page 29
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