NOTES FROM REEFTON.

Otago Witness, Issue 1847, 15 April 1887, Page 12

NOTES FROM REEFTON.

(Fbom Oub Own Cqrbespondent.) Rbeftok, April 6. Lone 'Star* — After follQwing the reef down for some distance with the winze the lode eat away. A crosscut was then put in, and after after going a few feet the stone was again met with, the reef having changed its underlie. The course of the win&e has now been altered, and it is expected that a few feet further will bring it on to the reef again. April 10. Welcome.— Af ter three adjournments of the extraordinary meeting called; for the Bth inst. to consider the advisability of amalgamating with the Specimen Hill and Homeward Sound companies, it has been resolved — "That the company be .voluntarily wound up on the Bth June next, provided that the proposed purchase can be successfully carried out, and that the Welcome shareholders shall receive £3000 more in cash and i>2ooo more in paid-up shares from the general division than was proposed in the .circular issued to-, shareholders." This was -carried, and a vote of thanks was passed to Mr Spedding for his irouble in the matter. The arrangement come to is practically that the Specimen Hill acd Homeward Bound companies will receive £2500 each less than originally proposed, the Welcome shareholders benefiting to that amount. The Homeward Bound meeting stands adjourned till Tuesday next, and the Specimen Hill meeting will be held on Saturday. It is considered improbable that either of the two companies last named will | agree .to the altered conditions of algamatiori. Mr Speddiug leaves for . Dunedin tomorrow, morning, and is altogether highly satisfied and pleased with his visit. His opinions regarding the mines here he keeps to himself until hV gets to Dunedin. 7 , „ ; The amalgam for "the .week exceeds 22000z. The following are the battery returns for the past week ;— Globe, 5190z amalgam from 190 tons of stone; Welcome, 3770z of amalgam for he week ; Keep-it-Dark, 334qz of. amalgam from 200 tons of stone ;. Progress, 3040z of amalgam from 100 tons of stone; Just-in-Time, 184oz of amalgam from 95 tons of stone; United Alpine, 1350z. of " retorted gold; Nil Desperandum' 1450z of amalgam from 125 tons of stone. Wealth of Nations.— The main shaft is now down 190 ft, leaving 25ft still to reach the ret quired depth. . i • South Hopeful. — The manager reports about (3Qft still to drive beforefreachingthe calculatgcj

line of stone.,. The reef indications are favouri able. Globe. — During the week the western level has been extended 6ft, making the total length driven 34ft. < .Thestonein-the Jace is 15ft wide. Up to the; last two days a slide of mullock came.hftlf across the face, which, . when, stripped off, will leave the stone as before. The eastern drive has been extended lift, making the total length r ?2ft. . The stone in this face is over 3ft wide, and is increasing. They have started to .slope west from the bottom of the winze, and also put in an uprise for sloping west of crosscut; Stone is going to the battery from both sides. of the workings. , . . - . .. •?. ... April 12. Pandoras.— Good accounts are still current as to the appearance of the mine, the reef being about 2ft thick and showing fair gold. , •.. . Jubilee. — This venture has been placed on the market. The ground is situated west and adjoining the Globe Company's lease, the corner peg being about 200 ft from the present winze of $he Globe Company.} This ground was taken up on the 'assumption of an east and west course. Surface prospecting- has . been done on the ground, and some surface quartz is now being sunk on near the Globe boundary and on the presumed line. Twelve thousand ■ contributing shares are held by the lessees, and the balance of 12,000, shares, have been placed in the market. The capital of the cojnpaiiy consists of £12.,000, in 24,00)3 shares of IDs. each, 5s per 'share bein|f considered paid up!". - iL t . Golconda. — The directors, visited the mine on Saturday last,, and decided upon the works to be started. It is intended, to extend. the. qld> tunnel, in which there is a reef 3ft thick. The lode is heavily charged vyith mineral (pyritous), and samples were brought in to be tested at the School of Mines. There is a large quantity of loose Btone about the surface of the lease, from which excellent prospects were washed out. It is intended to breach the surface in order to try and find, the reef from which this stone came.