THE MAY QUEEN IN THEIR LIST OF PROPERTIES.

Thames Star, Volume XXVII, Issue 8324, 15 April 1896, Page 2

THE MAY QUEEN IN THEIR LIST OF PROPERTIES.

This company has been formed for the purpose of conducting the business of a financial, exploriug, and mining corporation in Australasia and elsewhere. The company acquires the following properties, details of which areas follows: — (a) Three Government leases of an extensive lauded estate situate in the Northern Territory of P^u'h Australia, containing an area of about 3942 square miles—that is, over 2,500,000 acres, (a) An exclusive license fo" a limited p?riod to prospect for minerals «Tor a belt B of about (HO

square miles (part of the above), which is believed to be highly auriferous. The com j* pany also acquires the benefit of agreements for the purchase of the following goldmining properties, which have been carefully selected, on what the directors consider very favorable terms: —(a) A mining property in New Zealand, consisting of about 186 acres and equipped with a 33-stamp mill, cyanide plant, &c, which has been favorably reported on by several experts of good standing. (Described in an agreement dated October 25.h, 185)5, made between the May Queen Gold Mining Company of the first part, George Robsen of the second part, and Oscar Heindorf of the third part). (6) A mining property of about 156 acres in extent, also in New Zealand, which is equipped with a 4-stamp mill, and has been favorably reported on. (Described in an agreement dated January 14th, 1896, and made between Wm. John Farreli of the one part, and Oakes' Syndicate (Limited) of the other part), (c) A mining property of. 24 acres in the White Feather district, of Western Australia, also favorably reported npon. (Described in an agreement dated February 22nd, 1896, and made between Arthur Grenyille Adams of the one part, and Oakes' Syndicate (Limited) of the other part.) It is intended to form subsidiary companies to acquire and develop the properties now and hereafter to be secured, and as the company will retain large interests in theso companies, handsome profits should very shortly be made. The directors have already received favorable offers for the acquisition and development of the northern teritor}' for formation of subsidiary companies. Shareholders of the company will, as far as possible, be given the first right of applying for shares in the subsidiary companies which may be brought out by this company, a privilege which, as is well known, has proved of great value in parent companies of this character. Messrs F. E. Nash and Company (Limited), who are the veudors and promoters, have fixed the pxirchase price at £300,000, which includes a profit on re-sale. This sum is payable as to £25,000 in cash and £275,000 in shares, leaving £200,000 to provide for working capital.