MINING NEWS.

Ohinemuri Gazette, Volume VII, Issue 275, 26 September 1896, Page 5

MINING NEWS.

WAITEKAURI MAGAZINE. A meeting of "shareholders in, the aSove Company was held at the offices of Mr G.W. Morris on Tuesday afternoon, when Mr Edwin Edwards presided. Foijaal resolutions were passed authorising the directors to dispose of the property. The tei_ns on which an option for flotation is held have already been published. FORTUNA NO. 2 The directors of the Fortuna No, 2 G.M. Co. have definitely granted the option for the flotation of their property, such option to extend over two months. TALISMAN EXTENDED. An agreement has been come to between the directors of the Talisman Extended G.M. Co. and Mr M. A. Phillips to float the Talisman Extended property on the London market, on terms advantageous to local shareholders. The negotiations are to be completed by January 4 next, and the sum of £250 deposit has been paid.' FLEMINGTON G.M CO. (LTD.) At the office of Mr Seering H. Matthews, Hobson's Buildmgs, Short- ' land-street, a company under the Joint Stock Companies Act has been fouled for the pvtpose of working the Flemington special claim of 89 acres, situated at Whangamata. This property adjoins the Golden Mount, Three Star, Golden Three Reefs, Sybil, and Phoenix special claims. Mr Seering H. Matthews was appointed legal manager, and Messrs J. M. Lennox, C. B. Dufaur, J. H.: Fleming, A. Davis, and J. Adams were elected directors. Mr B, T, Dufaur was appointed solicitor of the company; Mr A. Fraser, the auditor; and the bankers, the Bank of New Zealand. Mr David Brighton has been chosen as mine manager, and will proceed at once to take charge of the works a^-eady in progress: The capital of the company is £7500, in 75,000 shares of 2s each. Fifty thousand shares have been subscribed, and 25,000 yegerved for tbe company. MINING AT THE BAY '■ OF ISLANDS.

Although as yet there are no big works to report, steady prospecting is being carried on in several places. At Pokaka, near Wa'Tiate North, the drive is now in about 400 feet. Several good,small leaders have been cut, but the main reef is notiyet reached. The length of the drive and the delay in finding the reef has caused some people to, lose confidence, but the opinions of Mr Wilson, the Government inspector oi Mines, and more recently of Mr Cheal, as mining expert, and the character of the work being done, and the probabilities of striking the reef, should satisfy everyone on that head. The original Prospecting Syndicate now hold 100 acres of the southern part of-the Government block shown on the county map. The present workings are on this portion. The balance pf the blpck has been taken up by some nlembers of the original company, and others from outside. A third party composed of some of the first members, have secured the right over another block of Government land, Tamatawiwi, about two miles south of Pokako. The workings at Pokako are under offer to a company in Auckland. It is said that a battery site has been looked out at the Kerikeri Falls, one of the finest water powers in the North.