C—3c

10

Taking this company's balance-sheet for the year ending the 30th May last, it shows that 72,340 tons of stone had been raised from the mine and crushed, and that the total expenditure in connection with the mine and crushing battery was as follows : — & s. d. £ a. d. ■ Mine and battery expenditure (13 years) ... 88,810 15 5= 1 4 6 - 6 per ton. Bent and taxes... ... ... ... 2,6571910 = 0 0 8-8 Office-expenses... ... ... ... 4,162 6 1 = 0 1 18 Total ... ... ...95,631 14 = 16 5-2 per ton. For the first four years the company expended nearly £15,000 of its capital without having got any return. A considerable amount of work was done, and gold obtained to the value of £11,543, but this was not sufficient to cover the expense of workings. Mining operations were therefore suspended for a considerable time, and prospecting carried on at the surface, where an outcrop of auriferous stone was found to the west of the ground formerly held in mining leases. A parcel of about 86 tons of stone from this outcrop yielded 1750z. gold. This discovery led to the special claim being taken up, and the workings confined for a time to this portion of the property. Workings were at first carried on from adit-levels, but after the discovery of the new lode a shaft was sunk, which is now down to a depth of 835 ft., and six levels have been opened out from the shaft. The line of lode has been traced for nearly 3,000 ft. in length, having several blocks of stone varying in length from 142 ft. to nearly 300 ft. At No. 1 level, which is 160 ft. below the surface, the block of stone was 179 ft. in length, having an average thickness of about 12ft., which has been taken out to the surface. This is termed " the Middle Block." On extending the level 150 ft. to the eastward, another block of stone was discovered, which proved to be 200 ft. in length, having an. average thickness of 6ft. This is only partially taken out. On the No. 2 level, which is 285 ft. below the surface, the middle block of stone was 182 ft. in length, having an average width of 12ft., the whole of which has been taken out. This level was extended for a distance of about 500 ft. in a westerly direction, when it cut what is termed the Dam Block, which was 180 ft. in length, having an average width of 12ft. This has also been taken out to the surface. This lode was underlaying into the Progress, which is the adjoining claim, and work on it was accordingly discontinued. The No. 3 level is 385 ft. below the surface, and the Middle Block is worked from this level to the one above. It was 184 ft. in length at this depth, and still retained an average width of 12ft. This level was extended to the East Block, but only a small portion of it was worked. At the No. 4 level, which is 510 ft. below the surface, the Middle Block was 142 ft. in length, still retaining its average width of 12ft., and the whole of the stone taken out. There has not been any work done on any other block of stone at this level. The No. 5. level is 635 ft. below the surface from which the whole of the Middle Block has been taken out, it being at this depth 148 ft. in length, having an average thickness of 10ft. On extending this level for a distance of 50ft. in an eastward direction another lode was cut, and this has now been driven on for a distance of 40ft., having a width of 10ft. in the face. Its length has not yet been determined, neither is it known what distance it will go upwards. At the No. 6 level, which is 835 ft. below the surface, the first block of stone is 180 ft. in length, when it went into the Progress ground, having an average width of 15ft. In extending the level in an easterly direction, the lode referred to in No. 5 level as being newly discovered was cut at 16ft. distant from the east end of the other block, which has an average width of 6ft.; but the length of this block has not yet been determined. It has been driven for a distance of 120 ft., and at this level stone still continues in the face. A winze has been commenced from this level on the large block of stone, which shows gold as it goes down, but the sinking here has recently been discontinued owing to the company having placed the mine under offer to Mr. D. Ziman to purchase.

Date and Year ending Tons of Quartz crushed. Yield of Gold. Value. Value per Ton. Dividends paid. Half-year, Nov., 1883 ... 30th May, 1884 1885 1886 1887 1888 1889 1890 1891 1892 1893 1894 1895 31st August, 1895 Tons. 1,160 4,750 4,000 606 1,556 6,530 8,295 8,242 7,439 9,800 9,292 6,135 4,535 1,098 Oz. dwt>. gr. 341 2 0 1,430 15 0 1,022 7 0 180 6 9 1,185 17 12 4,831 16 0 4,084 9 18 4,699 12 12 4,458 9 9 5,050 12 12 3,434 18 9 1,965 3 8 1,411 2 18 751 7 13 £ s. d. 1,334 11 0 5,582 0 7 3,963 6 5 663 10 5 4,679 10 2 19,055 17 6 16,134 14 10 18,532 12 3 17,652 12 0 20,472 13 0 13,857 17 1 7,914 11 10 5,721 18 0 2,717 4 11 £ s. d. 13 0 13 6 0 19 10 1 1 10 3 0 1 2 18 4 1 18 10 2 4 11 ■275 2 19 1 9 10 1 5 10 15 2 2 9 0 £ 11,250 3,600 4,950 10,350 8,100 1,800 Total ... 73,438 34,848 0 0 138,283 0 0 1 17 8 40,050