Page 20 Advertisements Column 2

Observer, Volume XXXIII, Issue 4, 5 October 1912, Page 20

Dated 18th September, 1912. THIS PROSPECTUS has been filed with the Eegisfcrar of Companies at Auckland. ABRIDGED PROSPECTUS OF "TheTairoa Opals, Ltd." (To be incorporated under " The Companies Act, 1908.) Issue of 12,500 Shares of £1 each, payable 5s on application, 2s 6d on allotment, and the balance in calls not .exceeding 2s 6d each, made at intervals of not less than one month. The principal object of the Company us to acquire the freehold property, being Section 3, Block 111., Tairua Survey District, containing 256 acres, more or less, and to mine, develop, and render merchantable the opal deposits therein. The exact limits of the opal-bearing strata are unknown, but from measurements taken it is confidently estimated that there exists at least a million cubic yards of opal-bearing strata of a similar nature to that from which the opal already won has been obtained. The actual strata in sight is all above the level of the surrounding country, being on a hill, about 150 ft high. It is reasonable to suppose that a much richer and more extensive field of opal-bearing rock exists below the level of that in sight. The following are extracts from the report of A. JARMAN, A.R.8.M., M.I.M.M. :— The gems already obtained vary from opal streaked with cloudy hydrophane to the true opal, varying from blue and blue-green to purple, and the fiery red so much desired. The latter are usually much smaller than the former. The revenue obtainable from opal mining fluctuates exceedingly, owing to the very irregular distribution and value of the gems, and it is impossible to say what revenue may be expected in the present case until more work has been done, at is indicated in Section II , but THE SPECIMENS FOUND AT THE SPOT MARKED 2s CONTAINED SOME FIN tQ STONES, and should give a handsome balance ataova the labour expended to date. The foilowing are extracts from the report of LESLIE W. A. McARTHUR, F.G.S.;— During investigation at my instance, several blasts were put in to exhibit fresh face to excavation and examination of result and output, from which numerous OPALS WERE CONTAINED IN THE MATRIX, OF DISTINCTLY PAY/ABLE QUALITY. The characteristics were of varied nature.including " Noble " (Itoyalj Opal, " Fire " or Bed Opal, and many specimens of " Sheen," commonly termed " Harlequin," or multi-coloured opal, of exceptional brilliancy, whilst much of the matrix was interspersed with " Pinflre " Opal of high market value. The Opal Matrix occurring upon this property is closely allied to Rhyolitic Andesite, freely traversed by Chalcedony, in various sections of the face rock throughout the general formation in which' the Amorphous silica (opal) is liberally distributed. I observed but little hyaline (clear-white, colourless, opal presentin the matrix, THE CHIEF CHARACTER BEING; OF lURIDESCENT BRILLIANCY, exhibiting varied degrees of reflected sheen in coloured lights of an exceptional nature in activity of change. A very favourable feature in a. geological point of view exists with regard to the extent and prospective value of this rock formation containing Opal matrix, in the fact that the thermal action strongly evidenced in the rock system, being bounded on the east and west by ferruginous conglomerate, whilst the whole position of this opal-bearing locality is situated in the centre of basal ie and other igeneous rock fo.mations. Still, further, there exists undoubted evidence that the Opal Matrix has been introduced to the surface by thermal action SUBSEQUENT TO and DISTINCT FROM the very pronounced volcanic eruptions and agencies which prevail in tWsnirounding- district. This all important feature is clearly shown by the rich formation contained in the Opal Matrix being- REGUL * R and WELL DEFINED, entirely devoid of eruptive fracture and displacements. THIS F <CT LENDB EVERY CONFIDENCE TH ,T THE OPAL MATRIX WILL CONTINUE TO A CONSIDERABLE DEPTH, PROBABLY TO THE "KERNEL" OF PAST THERMAL ACTION. I HAVE NO HESITATION IN CONVEYING MY OPINION THAT THE HIKUAI OPAL FIELD IS OF VAST PROSPECTIVE AND PRESENT VALUE, well meriting systematic development operations to secure a highly profitable yield at but small comparative cost and workings expenses. The stone is of varying qualities, as is always the case with opal. There is a large prdportion of eood salable gem stone, some of which is of exceedingly good quality, and IT IS SAFE TO ASSUME THAI , THE COMPANY WILL ALWAYS HAVE A READY SALE FOR OPAL MATRIX MADE UP AS NEW ZEALAND SOUVENIRS Some idea of the productiveness of the reef may be obtained from the fact that ON AN AMOUNT INCURRED, THE ACTUAL GEMS OBTAINED ARE VALUED AT £211 15s, vide the following extract from a letter written by A. LARSEN, Lapidist, of Auckland:— Extract from a letter written by A. LARSEN, Lapidist, o Auckland: - " Following your request for a valuation of the opal in my possession, I beg to report I have carefully inspected each stone, and the value of the whole parcel in its present state is £211155." The farm on which the reef is situated consists of 256 acres (of which a large area is alluvia deposit), well fenced and sub-divided into numerous paddocks There is also a good six-roomed house, stables, and other sheds, all of which will be very useful in working- the opal deposit. The property is at the junction of the Hikuai and Tairua Rivers,, and access to the farm is by either level road or launch ; freight on goods from Auckland beinj? at £1 per ton. On the measurements, it is estimated that there are at least 1,000,000 yards of the. rock in ♦vhich the opals occur. With a very considerable reduction from the return referred to (opals of £200 in value from an expenditure of only £20), and the result would be a very large return to the shareholders of the Company. From the result of the first test, it would appear that the Company will be revenue-producing from the start, so that the amount subscribed for working capital may not be required to be called up to any great extent. The public rarely get an opportunity of securing shares in a Company with such bright prospects. ""• The minimum subscription upon which the Directors may proceed to allotment is £10,000. The estimated amount of the preliminary expenses, which are to be paid by the Company, is £200. • : . Prospectus and forms of application may be obtained from the Broker of the Company or his Agents. APPLICATION FORM. TO THE DIRECTORS OF - rpHE rpAIRUA QPA.LS, "J^IMITED ' (to be> incorporated). Co. A. M. PICKFORD, National Chambers, Swanson-street Auckland. Gentlemen,— ' I hereby apply for and request you to allot me shares of £1 each in the capita of the above-named Company upon terms of .the Prospectus of such Company dated 18th September 1912, and of its Memorandum and Articles of Association. I enclose the sum of aep m , beinfi: a deposit of 5s per share on the shares applied for, and I agree to accept such shaVes'or any less number that may be allotted to me, and authorise you to enter my name on the Register of Members of the Company after incorporation in respect thereof. Name in full •• Address .'. Description or, occupation Eate • .-1912. Signature . •