MINING.

Press, Volume L, Issue 14985, 4 June 1914, Page 11

MINING.

| ROSS GOLDFIELDS. The general _n.-c.___g of shareholders in ! tho Koss G-l<-__.__ Reconstructed, Ltd., will bo held on Juno 251h at Auckland. • The ; director-" report .-states that since the annua! meeting of the company, which was held on September 21th last," 9d per share was called up, making a total oi Ts 3d pei share called ernce the company was reconstructed. It waa indicated in tbe last annual report that th. company had approached tho Government for a loan under _ho Mining Act. -1303. Tho Government ..ranted a loan of £7000 at 4$ per cent, taking a first charge on _J1 tho company's assets except uncalled capital. Tbe condition on which tho loan was granted was that advances under it would be in the nat-ure of £ ior £ contribution against money- expended by the compajiy m mining; operations.. Up to ihe preeent instalments amounting to £\?.ss 7. Ed were drawn on account, oi the .loan. Tho mine euporintend.jit had, given full details of the work carried out .since his last report. Ho has also outlined some ot the difficu'tioe that the management had to contend with einoe tho directors took office. Thero were numerou. and seemingly reliablo reports in the possession of the comnanv, nnd Government reports indicating that" rich areas of washdirt had been left many veare »co by the Ciuwi.s and.;Ros_ United" Companies; thejM? companies having been -forced to abandon tho ground on 'account of the exceaFivo water met with. There soeraed to havo been no doubt thnt the ground worked by the Caeeius Company .was .very .rich, but .tho company's development and prospecting work had phown that.tho high-grade. wa«hdirt on th© Cs*siue . level .was removed before that company was forced .to, abandon its claim through water trouble. .Having proved that that was tho caeo, the company deemed it advisable to leavo the immediate vicinity of ; tho old working*, and 'develop- tho layer of j washdirt located at tho sixth level.