Page 8 Advertisements Column 1

Dominion, Volume 7, Issue 2144, 9 May 1914, Page 8

ABRIDGED PROSPECTUS OF THE OHINEMURI GOLD & SILVER MINE! / LIMITED. PREAMBLE. Tho promoter, in approaching the flotation of the present Company, does e with a full senssi of the responsibility attached to a work of this kind, which ii yolves asking capitalists to stake their money in an undertaking which is as vet i its infftiioy. But he linsjiiado the most searching investigations, with the aid of scientifi authorities of the'first water, and heroin submits the full particulars without fca of challenge Of any scientific authority in the Dominion. ■ ' He is'aware that in the past, inconnection with gold propositions, gamblin speculation has overpowered the judgment of Promoters and Directors, and waste th© assets of shareholders, thus resulting in disaster to the Companies concerned In some instances Promoters and Directors have been entirely misled by c: perts who wero either incompetent or otherwise unreliable. This has shown itse! m various ways'in New Zealand. In other cases blind plunging has led to the expenditure of fortunes in building and .plant, before development work has been done to ascertain if there is snfficien ore m sight to warrant such expenditure. Tho'subsequent development works, haj jug proved the. absence of such ore, there remained enormous buildings and expei sive plant buried in tho mountain passes, a monument to the- blundering actions fl the responsible parties concerned. ■ ■ In. yet .other cases, indications' of ore having been found, the capital of. th shareholders has been absorbed in buildings instead of utilising it to produc positive ore reserves, and thus justify the further expenditure in buildings. .' ' In still further' cases sheer criminal gambling has been at the bottom of all th trouble, and unsuspecting people have been lured into the net, to their ultimat ruin. -, . _ A large section of the investing public are also equally to blame for plungin .into ventures of the kind without taking ordinary business precautious, ami niakln 'sound investigations before risking the money. . ! Thus the mineral wealth of New Zealand, which by the way has only yet beei ccratched on the surface, is left a. monument to our. folly, and a prey to genera ■ tions to come. With a good knowledge of the history of mining in New Zealand, and a du sense of the responsibility attached to the promotion of a mining company, ever; endeavour has been put forward by the Promoter of this Company to ; (1). Ascertain .the true state of the assets now offered in this Prospectus, an< ■for this purpose ' ' (2) To secure the report and advice of an engineer of tho highest standini and wido practical .experience, . ....... (3) To frame a plan of development that will adequately test the,values am extent'."of"the"Ol'e.s;" Slid safeguard the capital of the shareholders, oi sound commercial-lines, and free from every element of gambling. (4) To,keep .the control of tho Company in. the hands of men who willde velop it-in .tho best interests of the shareholders and restore the; publii •/ • '•■■■■■ confidence in a class of investment which will yet prove to be one of th< greatest wealth-producers of New .;Zealand.'. (5) To secrife tiie services of a Manager whose presence will be a guarantei "\ that the'capital will .beexpended iii a sound, economical, practical ant ' scientific manner so as to produce the> best possible results. The preliminary.in:ve3tigitiqii'f,''and;pi-act\cal.tests, necessary to justify'the pro Auction of. this Prospectus, and the flotation-of the proposed Company; hate covered a. period of-twelve'month's, of which th'e last'.'tW months have been occupiec "by Mr. E. F. Adams; the well-known and highly-trusted Mining Engineer, in examining and sampling the exposed reefs, conducting surveys, and framing a plar of . development and. estimates of expenditure necessary to the successful develop ment of the mines. •''•"•'■ He commends to you his report,.which forms part of the Prospectus. CognisEnt, of-tiiQ responsibilities-as stated above, and with inside infonnatioi of the rare prospects of our.mines, which information has been known only.to the Directors, tlieir advisers,-and tho Promoter, he launch:.- this Prospectus with tin ■ satisfaction nf knowing that we have acWd conscientiously in ascertaining all th( facts of the case possible "for man to ascertain, and" has withheld nothing from the'knowledge of' those ■ rthom ho; invite 9 to become shareholders. The net result of, our investigations can be summed up in the statement mad< in the first part of Mr. Adams's report:—"The Mine has bright prospects anil thaws by favourable indications a.'capacity to reach ;big mine standard, with moderate' outlay in'prospecting and development." ■ ""To enable prospective" shareholders to make themselves personally acquainted with the property, arrangements have been made whereby any bona-fide investor can-visit and inspect tho mines. Electric light has been installed in the drives, and one of the Company's employees is in. attendance to conduct visitors over the -works, thus affording every facility for minute inspection. - s -If any group of prospective shareholders desires to send an expert to inspect vOn.their behalf, .the. Promoter will be only too pleased to afford every facility, tc Vsuch expert. 1 Our Mining Engineer, Mr. E. F. Adams, will be available, reasonable .notice. being given,' to,accompany experts'or groups, of prospective snare...holders,, suid make every point clear. He is autfiorjsed to give the fullest information possible. : • Any bona-fide prospec tiye subscriber is at liberty to take , samples from the drives,and have their, own assays made. -- - The Directors are so satisfied as to the genuineness and prospects of the mines • that, they leave the door open for the closest scrutiny. 'Appointments' for inspection should be madei 'with the Company's Secretary, Mr." J." B. Sheatiy-Queen Street, Auckland. > (Sgd.) DAVID WHYTE, ; - • c - ■ Broker. CAPITAL: £110,000 IN 220,000 SHARES OF 10$.'EACH. . . : 110,000 of these shares are issued fully paid to-the present owners of the property.' - , The vendors do not receive any cash as part payment of the property, 110,000 shares are offered for public subscription on the following terms: Is. per share Jon. application; Is. per share on allotment; balance, in calls of not more than Is. per share, and at intervals of not less than two months. DIRECTORS: ALPHOtfSUS TEMPEST) Settle r, Auckland. . ARCH. A, DONALD, Grain Merchant, Auckland. • • / DAVID .'WHYTE, Broker, Hastings. Other two Directors will be.selected by the above three. 1 The above Directors will hold office till the Annual General Meeting of the Company to be held in 1915. ' BANKERS: The National Bank of New Zealand, Limited. SOLICITORS: Messrs: Devore, Martin and Prendergast, Auckland. SECRETARY,: J. B. Sheath, Imperial Buildings, Queen Street, Auckland. BROKER: David Whyte, Hastings, Hawke's Bay. The objects of the Company are to acquire from the Silverstreaui Mines/ Limited, all its mining properties, machinery, plant and chattels. (1) Silverstream Quartz Claim. (2) Advance Quartz C laira. (3) Water Races. • ' ■ (1) Special Sites (Mack ine Sites) (5) Special Sites (Battery Sites). BATTERY: The vendors also hold an option to purchase the late VVaiti- , kauri Extended Company's battery, at present erected on the vendors* property, ' . at a nominal figure IJI1100), which will effect a saving to this Company of approximately .£6009. • SITUATION: The properties are situated in the Oliinemuri District, nine miles west -of Hikutaia Railway Station, on the Thames-Paeroa Railway, Ilatiraki Peninsula.' near Auckland. Access to the properties is'by a good dray road, metalled, and having an easy grade. ■ . ■ The REEFS:- There are four reefs, proved by mining on the property, ■ and comprise two classes, viz.: (1) Silver Telliiride (Hessite) and gold; (2) Silver Sulphide and gold. The principal reefs are known as the "Queen" and "Julia" (Silver Telhiride and gnld), 7 feet 6 incite s wide, and yielding ore worth .£ll-1 per ton-downwards, and the "Camoola" reef (Silver .Sulphide and Gold), 30 feet - wide andout-croppiiig in both properties, and which Mr. E. F. Adams, M.A.1.M.E., says "gives special promise iu the making of a big mine." . DEVELOPMENT: The vendors have proved the ore by driving in at iT-low level and bulk-sampling. The reefs also show- out on. the surface. From 200 to 500 feet .depth of the. reefs' can Ik won by gravitation. Tho new Company proposes to further - develop ■so as "to establish positive ore reserves, and thereafter to proceo'd. with the usual-- mining operations. As the reefs are now well exposed and showing good values, a. largo portion ot the development ta be proceeded with will consist of taking-.out the ore from I lie reefs. No sinking is required to carry out the present 'clieme of development, the haulage and drainage being by gravitation. When rise? are made through the;. reefs to the outcrops, the ventilation will se-by natural draught. Heavy, initial outlay in expensive haulage, pumpng, and ventilating plant is thus rendered unnecessary. This applies to all ;hc reefs. • " .UNIQUE NATURE OF, THE, ORE: In no other part'of New Zealand does ore of the nature of and in the form-o f-the "Queen" and "Julia" ore exist, as ■Ur.-E, F. Adams -reports• "Hessite-is well'known-on-this peninsula in' various mines, but In !';no other instance' as 'a" considerable deposit or as in intimate mix,'turc "with .the.reef _ • '"From the data at -hiy -ha nd, by (lie most eminent authorities on' ' ore'deposits the Wor Id's', mines H'ssite is quoted as a mineral that has been mined to great depths in many mines." VALUES OF ORE DEPOSITS: Jlr. Adams' report says:—"Uping JO4 per 0r..-- for gold, and 2s. 3d. for silver as the figures of market value, the ,ore of the' Silver Queen pay chute,.' runs in value from .£ll4 per ton .downwards. The. bonanza or specimen' ore mot with in mining on, Silver Queen and Julia" reefs carries as .high as 1000 ounces of silver to the ton." "I estimate .'that "oi.'total'tßAnage of' 800.'? long tons has been broken from the Silver Queen dttfpesf."" Of; this £00 tons.,about 170 tons remains •in the stopes, and 030 tons-Hiavc ' been shipped and paddocked, and give an average gross ore value of £3 15s. per .ton." ' ' , ". ESTIMATED PROFITS:'(Mr. Adams' report) "Allowing for the slime-sand losses in conccntratjpti,, .'.losses in cyaniding,'-Inine. stoping and handling and. mill costs; . the profit; in • ore of this value treatad.as just described would be £1 155.. per -ton. - These values a»o • worked" for '.'silver at 2s. 3d. per oz. . ... 'With silver at 2s. 6d. per oz.; the milling profit would rise from £1 15s. to £2 per ton.'" , - . ~ STRIKING FEATURES IN THE REEFS: (Mr. Adams'report) "The most striking feature iii the reefs' of. this, property is the abundanco of ' Manganese, in the form of Pyrolusite, contained in tliem for some depth below the outcrops. The reefs are, in fact, highly manganiferous near the surface, and.' have been. .'for. the. most, part subject to-acid, solutions down to and below tho 'depth of present min ing. The exceptions are those por- I tions of the reefs enrrying primary ore rich in silver." ' "Broadly speaking it is quite evident that deeper', working will produce more: extensive blocks of pay ore and also that the bullion at certain levels will -be'found higher, in .gold.", .• • "Further, the experience is.that at'a lower level • the primary , ore is not disturbed, being 'enhanced in value by value s' deposited from the .leachings of the upper portions of the reefs.".' . ' — INSPECTION OF MINES: Arrangements have been' made whereby, groups of intending subscribers can. inspect .tho. mi ne.. Application should bo liiade to the .Secretary. . '"CASH REQUIRED: The cash required during the proposed stage of development is rt'GOCO. The l>nlance of tho capital will he held in reserve For future expansion if required; . CLOSING. OF SHARE LIST: To enable the work at (lie mines to be proceeded with without delay,'the share-list will be dosed on Saturday, 30tli May, 191-1, at which date: the' Directors will proceed to allotment. ILLUSTRATIONS: Full-page illustrations connected with this mine will appear in the "Auckland Weekly News" and the "Weekly Press" of date Thursday, 13th May, .191-1." ' "REPORTS, ETC.: Prospectus containing fiill. details about the proposed Company, and exhaustive Reports about the Mine, assays, bulk tests, etc., together with photographs of the Company's properties, and a map o? the reefs and proposed development; also Forms of Application for Shares can be obtained from tho Secretary, Broker, or at any branch of the National Bank of' New Zealand, Limited. i ' „ . . DAVID WHYTE, y Broker of tho Ohiucmuri Gold aud Silver Mines,-T.td.. Queou Street, Hastings. Hawke'i Bay, --