MINING NEWS.

Star (Christchurch), Issue 5570, 20 May 1896, Page 3

MINING NEWS.

i . . * £?er Press Association.] AUCKLAND, May 19. An offer has been received by the owners of the Nevada, Euapehu, New Caledonia and Empress holdings at Owharoa for the notation of the combined properties for .£SOO cash and 25,000 shares in a company with a working capital of .£30,000. Mr Gooch, agent for the owners, wired yesterday accepting the offer. Two offers have been, received for the Golden Fleece. The directors decided not to accept either at present. AUCKLAND, May 20. ,A reef nine inches wide has been cut in the Kapanga mine, at Coromandel, at a depth of 930 feet, carrying splendid gold. The value of the discovery is very great to the company, and is of the utmost importance to deep level mining on the peninsula. There is great excitement at Coromandel in consequence. The share market is very brisk, and prices for all sound stock are advancing. Woodstocks sold at from 31s 6d to 36s in consequence of a telegram stating that the reef on No. 4 Level had assayed worth .£25 per ton. Moanatairis advanced to 2s, Talismans to 14s 6d, Hazelbanks f roni 4s 3d to 4s 6d, and Puru Consolidated from Is 10c! to 2s sd. Alphas sold at 6s 9d, and nearly all other shares showed better value. BLENHEIM, May 20. At the Wakamarina Gorge the work is progressing Satisfactorily. Everything is in good working order, and good prospects have been obtained. It is expected to bottom in the course of a few days, and results of an encouraging nature arc expected at any time.