THE LA MONTE GOLD-SAVING PROCESS.

Thames Advertiser, Volume XVI, Issue 5184, 3 June 1885, Page 3

THE LA MONTE GOLD-SAVING PROCESS.

;The proposal for the formation of a company in Auckland for.the acquirement of :the rights to the 'La Monto .smelting process has. fallen through, but we. are glad ; to.learn that,; arrangements have nevertheless :boen; made by which its ,ad vantages are' secured to this district. A syndicate of,twelve gentlemen waited upon Mr La Monte prior to his departure for Sydney on Monday, night, and purchasedfrorh him, the patent rights.of the process for the whole colony, at a cost of £10,000.' 'Mr La Monte' himself puts £1,000 into the concern, and obtains gratis one-fifteenth of the shares in any company that may be formed. The following gentlemen compose, the ; syndicate :— Messrs H, Campbell, D.. J. McLeod, J. Reid, Alex. Saunders, A. Porter, Wilsons and Horton,W. Eraser,'J. ; M. : Lennox, R. K. Daviß, G. Aiokin, O. O. McMillan, and La Monte. The agreement; with Mr La Monte is of a very favourable nature, a guarantee having been given l that the furnace .will'.work close up to the assay test jn the extraction of gold and silver from tailings or ore. Mr La' Monte is to erect and run the furnace for sixty.days at his own cost, and. to ba paid for it when results are assured. Mr La Monte left for Sydney by the mail boat on Monday night, but will shortly return with skilled workmen to erect the furnace at the Thames, which is to be at work in about four months''Hime. ■ The agreement the shareholders of the Woodstock claim and Mr R.K.Davis, whereby the.latter gentleman undertakes to erect a furnace at Karangahake, was duly concluded last evening. • Mr Davis contracts to complete within six raohthsVa furnace: capable of reducing 25 tons of ore per diem, and to run the. same for thirty days at his own cost. .The shareholders aro most sanguine as to the utility of the smelting furnace for' dealing with their silver-charged lodes..,