Page 16 Advertisements Column 1

New Zealand Tablet, Volume XVI, Issue 28, 2 November 1888, Page 16

AMENDED PROSPECTUS OP THE WAKATIPU GOLD MINING AND SLUICING COMPANY, LIMITED. To be Incorporated under the provisions of " The Companies Act, 1882." CAPITAL ... ... ... ... £17,500 IN 70,000 SHARES OF 5s EACH. Of which the Vendors agree to take 20,000 fully paid up Shares in part payment of their several Freehold Properties, the remaining 50 000 Shares being offered for public subscription on the following terms, vie :— One Shilling per Share on Application and One Shilling on Allotment. No Calls to be made at less intervals than one month, and no Call to exceed One Shilling per Share. Provisional Directors— HON. T. FERGUS, Minister of Justice and Defence for the Colony of New Zealand. JAMES ALLAN, Esq., 'M.H.R. H. S. VALENTINE, Esq., M.H.R. MAURICE JOEL, Esq., of Dunedin. Merchant. B. HALLENBTEIN. Esq., of Dunedin, J.P.. Merchant. JAMES HAZLET, Esq., of Dunedin, J.P., Merchant. G. FENWICK, Esq., of Dunedin, J.P., Managing Director Otago Daily Times and Witness Newspapers Company, Limited. JOSEPH ROGERS, Esq., of Athol, J.P. DONALD A CAMERON, Esq., of Nokomai, J.P. JOSEPH STOCK, Esq., of Invercargill, J. P., Merchant. CHAP. C. BOYES, Esq , of Queenstown, J.P. ROBERT ROSS, Esq , of Queenstown, Merchant. I. A. CAMERON, Esq., of Qaeenstown, C.E. and Architect. BEW HOY, Esq., of Dunedin, Merchant. Bankers— THE BANK OF NEW ZEALAND. Solicitor and Secretary (pro tein.~) — T. SCOTT-SMITH, of Queenstown, Otago, New Zealand, Brokers— J. A. CHAPMAN, Princes Street, Dunedin. A. G. FENWICK, Princes Street, Dunedin. F. W. F. GEISOW, Queenstown, Oiago. R. F. CUTHBERTBON, Invercargill, WM. TODD, Invercargill. McKELLAR and BCARVELL, Christchuich. CHARLES ST. BARHE. Wellington. Temporary Ofiices— BALLARAT STREET, Queeustown, Otago, New ZjalanJ. The above Company is being formed to acquire and work on a large seal about 250 acrc^ of valuable aunferous/m'/foM land and about 50 acres held under licensed holdings (comprising in all about 300 acres), which land is situated on the borders of Like Wakatipu, and about five miles from Queenstown. There are about 620 acres ot freehold land, all of which, if necessary, will bs conveyed to the Company, but of this there are only at out 230 acres auriferous. The ground above mentioned has for a great many years been known to be auriferous ; and lately several applications have been made to purchase or resume possession of portious of this freehold for the purpose ot mining, and minute portions of these properties adjoining the creeks have at different periods during the last 20 years been woikad by miners to great advantage. The terraces, as well as the lower ground, are auriferous, and exceptionally well situated for sluicing facilities. The principal water rights which have been secured are permanent and large, and are considered the most valuable water rights in. the Lake Wakatipu district, and comprise about 25 heads of water, which are capable of affording a pressure of 100 ft., and which will com - mana the whole of the aurifcious terraces proposed to be acquired and worked by the Company. The proprietors of the properties ha7e agreed to accept £4000 as the price thereof in addition to the shares already mentioned. With this sum they had to buy the several claims and valuable water rights mentioned by Mr. Beal in his repoit. The estimated cost of construct i jn of water races, dams, reservoir, sluicing plant, etc., will be £3000. TLe properties have been very carefully and exhaustively prospected and reported upon by L. O. Beal, jun., Esq , of Dunedin, Mit.ing Engineer and Expert, whose Report is appended hereto, and which concludes as follows .— " I weulu say, after carefully examining and testing the ground, that the property is a very excellent one, offering special facilities as a sluicing -claim, and should, if worked in a thorough and systematic manner, yield a good and safe return on capital, and should last fjr fifteen or twenty years at least with a large plant." " To show the extremely rich character of the ground proposed to be worked, it need only be said that, even assuming the wash toavetage only f> grains of gold to the ton of stuff sluiced, which is an extremely low average, tt c yield from 20,000 tons (which could easily be put through per month ) would give ihe Company the very handBorne return of £9,360 pei annum." The Company will pay all the preliminary expenses incidental to the floating of the Company, including brokerage, comission, printing, advertising, and all other costs in connection with the Company, but there are not expeoted to be heavy. It is anticipated that it will not be necessary to call up more than Is per bhare.