TAITAPU GOLD.

Thames Star, Volume XXX, Issue 9047, 20 April 1898, Page 2

TAITAPU GOLD.

50OZS FBO *1 500 TONS,

The Nelson Colonist, in an article referring to the disappointing results of the first crushing from this Company, states: "In this dintrict the Taitapu has always been regarded with caution, but reports found their way into at least one English paper, from which it appeared that the atone would yield 800ozs of gold to the ton. That report was referred to in these columns as soon as it reached Nelson, and we now have the statement that nearly 500 tons have yielded but 50< zs. The company is an English one, and it appointed its own experts, but the alleged poor results of the first crush? ing are to be greatly deplored " Some interesting particulars regard* ing this company from the Wellington Post are appended: "\The Taitapu Gold Estates, Limited, owns a free hold estate of 88,000 acres; and £20,000 has already been expended by the company on the Golden Ridge mine, the expenditure covering the cost of a 20-stamp mill, with the buildings, the waterrace tunnel aud flume of about two miles in length, wire tramway and all other requisites, including roa fa; bridges, exploration, and other necessary work. The Australasian Gold Trust and New Zealand Pioneers, Limited, the two subsidiary companies, have spent £600 a quarter provided' for their prospecting contracts, and have also performed . the necessary development work on their blocks, Nos. 2 and 3 Some of the stone from the Pioneer Claim, on being assayed, yielded at the rate of 1 lozs 1 Odwts to the ton, but assays are commonly mifleading. The Taitapu Company han so far done excellent service to the colony in developing its huge estate and finding employment for a large number of men The directors seem to contemplate; developing the coal area on the estate, throwing open to settlement that part of the estate suited to agriculture. It looks as though the promoters of the enter* prise had made the common mistake of erecting expensive crushing plant without having a decent paddock of stone at grass of ascertained value beforehand." r

It is not only the Taitapu Gold Estates Company that has oommitted this stupid blunder of erecting an expensive crushing plant before determining the value of the property. Monuments of such crass stupidity are to be seen upon some parts of the Hauraki goldfields, the money subscribed by some English companies having been wasted in the erection of reduction works, and when these hare been completed it has suddenly been realised that there is no payable ore to keep the mill going.