Page 16 Advertisements Column 1

New Zealand Tablet, Volume XVI, Issue 29, 9 November 1888, Page 16

AMENDED PROSPECTUS I OF 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 SHABES OF 6s 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, vis :— 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. 8. 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. CHA«. C. BOYES, Esq., of Queenstown, J.P. BOBERT ROSS, Esq , of Queenstown, Merchant. E. A. CAMERON, Esq., of Queenstown, O.E. and Architect. BEW HOY, Esq., of Dunedin, Merchant. Bankebs — THE BANK OF NEW ZEALAND. Solicitor and Secretary Q)ro teni,)— T. SCOTT-SMITH, of Quee istown, Otago, New Zealand. Brokers— J. A. CHAPMAN, Princes Street, Dunedin. A. G. FENWICK, Princes Street, Dunedin. F. W. F. GEISOW, Queenstown, Otago. R. F. CUTHBEBTSON, Invcrcargill, WM. TODD, Invercargill. McKELLAR and BCARVELL, Ohristchurcb. CHARLES ST. BARHE, Wellington. Tempobaiy Offices— BALLARAT STREET, QueenstowD, Otago, New Zealand. The above Company is being formed to acquire and work on a large seal about 250 acre* of valuable auriferous freehold land and about 50 acres held under licenped holdings (comprising in all about 300 acres), which land is situated on the borders of Lake Wakatipu, and about five miles from Queenstown. There are about 620 acres of freehold land, all of which, if necessary, will bo conveyed to the Company, but of this there are only about 250 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 portions 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 worked by miners to great advantage. The terraces, aB well as the lower ground, are auriferous, and exceptionally well situated for eluicing facilities. The principal water right 9 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 prpssure of 100 ft., and which will command the whole of the auriferous terraces proposed to be acquired and worked by the Company. The proprietors of the properties have 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 report. The estimated cost of construction of water races, dams, reservoir, sloicing plant, etc., will be £3000. The properties have been very carefully and exhaustively prospected and reported upon by L. O. Beal, jun., Esq , of Dunedin, Mining Engineer and Expert, whose Report is appended hereto, and which concludes as follows :— " I would say, after carefully examining and testing the ground, that the property is a very excellent one, offering special facilities as a sluicing claim, and Bhould, if worked in a thorough and systematic manner, yield a good and safe return on capital, and should last for 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 to average only n grains of gold to the ton of stuff sluiced, which is an extremely low average, the yield from 20,000 tons (which could easily be put through per month) would give the Company the very handsome return of £9,360 per annum." Tke 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 in anticipated that it will not be necessary to call up more than 4i per Share.