Consolidated Goldfields of New Zealand.

Thames Star, Volume XXX, Issue 9027, 26 March 1898, Page 2

Consolidated Goldfields of New Zealand.

The New Zealand market,, which has been in a stare of acute depression for some considerable time past, is sadly in need of some influence to impart to it a much needed activity (remarks the Mining Journal of February sth). It is possible that this will be provided by the Terr cheering report of Mr Foster, which the directors of the Consolidated Gold ■ Fields of New Zealand has issued to the shareholders at the latter end of this week. This company has been rightly looked upon as one of the leading and more important companies operating in the colony, and the.developments of its various mines and: properties are naturally regarded with general and increasing interest. Of late, however, it cannot be denied that its prospeots have been regarded with, feelings of pessimism; but in the face of Mr Foster's report this state of mind is likely to give way to feeling of hope ; and encouragement. The report in [ question deals with the progress which has been made with the development! of the various mines of the company since July 30th last, and it is to be noted that the directors are / evidently- anxious to give the shareholders as much and: as early information as possible rather - than allow them to remain in ignorance until the time of the annual meeting ; comes round. Witn respect to the Progress mines, which are given prominence in this report, it is pleasing to note that the developments are of a most satisfactory nature, and have to some extent exceeded the anticipations of the manager. Not only have the ere bodies which it was expected to meet been encountered in large quantities, but an entirely new body of ore has been met with on the No. 7 level, consisting of a reef 22ft in width, and averaging over I4dwts to the ton. This, of course, is a very important discovery, and naturally adds greatly to the value of the mines, while in all probability it will mean in the early future an addition to thtt stamps, which are now being erected. Mr Foster reports very briefly upon the other properties, but what he says is of a very satisfactory nature, and goes to show that developments so fat are very promising.