Page 8 Advertisements Column 1

Dominion, Volume 7, Issue 2146, 12 May 1914, Page 8

I ABRIDGED PROSPECTUS OF THE OHINEMURI GOLD & SILVER MINES LIMITED. PREAMBLE. The.promoter, in''approaching the flotation'of the present Company, does so with a full sense of -the responsibility attached to a work of this kind, which involves asking capitalists to stake their money in an undertaking which is as yet in its infancy. But lie hns made the most searching investigations, with the aid of scientific authorities of the first water, and hereinsubmits the full particulars without fear of challenge of any scientific authority in the Dominion. Ho is aware that in the'past, inconnection with gold propositions, gambling speculation has overpowered the judgment of Promoters) and Directors, and wasted the assets of shareholders,, thus resulting 'in disaster to tho Companies concerned. In some instances Promoters and Directors have, been entirely misled by experts who were either, incompetent or otherwise unreliable. This has shown itself •in various ways ill New Zealand. In other cases blind plunging has led to the expenditure of fortunes in buildings and plant, before development work has been done to ascertain if there is sufficient ore-in sight to warrant such expenditure. Tha subsequent development works, haying proved the absence of such ore, there remained enormous buildings and expensive plant buried in the mountain passes, a monument to the blundering actions of tho responsible parties concerned. ' In yet other cases, indications of ore having been found, the capital of the shareholders been absorbed in buildings instead of utilising it to produce 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 the trouble, and unsuspecting people have been lured into the net, to their ultimate ruin. .■ A largo section of tho investing public are also equally to blame for plunging intp ventures of the kind,without taking ordinary business precautions, and making eound investigations before risking tho money. Thus the mineral wealth of Now Zealand,'which by the way has only yet been scratched oii the surface, is left a monument to our folly, and a prey to generations to come. ... 'With'.a. good knowledge of the, history of. mining in New., Zealand, and a duo sense of the responsibility attached to tho promotion of'a mining company, every / endeavour .'has" been put forward,by the Promoter of this Company to (1) Ascertain the true etato of the assets now. offered in this Prospectus, and for this purpose (2) To secure tho report and advice of an engineer of the. highest standing and wide practical experience, (3) To frame a, plan of development that will adequately test tho values and • \ extent of tile ores, and safeguard the capital of the shareholders, on ' sound commercial lines, and free from every element ,of gambling. '.' (4)' To keep tho control of the Company in the hands of men who will develop it in the best interests of the shareholders and restore the public confidence in a class of investment which will yet prove to be one of tho greatest, wealth-producers of New Zealand. ' (5) To securo the services of a Manager whoso presence will be a guarantee that the capital will be expended in a sound, economical, practical and scientific manner so as to produce tho best possible results. The preliminary investigations, and practical tests, necessary to justify, the production of this Prosoectus, aud the .flotation ,of. the proposed Company, hate covered a period of twelve months, of which the last two months have been occupied by Mr. E. P. Adams, tho well-known and highly-trusted Mining Engineer, in examining.and sampling the exposed reefs, conducting surveys, and framing a plan of development and estimatos of expenditure necessary to the successful development of the mines. Ho commends to you his report, which forms part of the Prospectus. Cognisant' of' the responsibilities as stated above, and with inside information of tho rare prospects of our mines, which information has been known only to the Directors, their advisers, and tho Promoter, he' launches this Prospectus with tho satisfaction of knowing that we have acted conscientiously in ascertaining all tho facts of the case possiblo for man to ascertain, and has withheld nothing from tho knowledge of those' whom he invites to become shareholders. The net result of our investigations can be summed up in the statement made in the first part of Mr. Adams's report:—"The Mine has bright prospects and shows 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-nde investor can visit and inspect the mines. Electric light has be-en installed in the drives, and one of the Company's employees is in attendance to conduct visitors over tjo works, thus affording every facility for minute inspection. If any group of prospective shareholders desires to send .an expert to inspect on their behalf, the Promoter will be only too pleaded to afford every facility xa such expert. . Our Mining Engineer, Mr. E. P. Adams, will be available, on_ reasonable notice ,being given, to accompany experts or groups of prospective snareholders, and make every point clear. He is authorised to give tho fullest information possible. Any bona-fide-prospective subscriber is at liberty to take samples from tho drives and have their own assays made. The Directors are so satisfied as to the genuineness and prospects of the mines that they leavo the door open for the closest scrutiny. Appointments for inspection should be made with the Company's Secretary, Mr. J,.B v Shc f( th, ; Queen Street, Auckland. . ' a Broker.' , '' CAPITAL: £110,000 .'IN 220,000 SHARES OF 10s, EACH. 1 110,000 of these shares'are issued fully paid to the present owners of the property. Trio vendors do not reccive any cash as part payment of the property. 11.0,000 shares are offered for public subscription on the following terms: is. per' sharo on application;.ls. per share on allotment; balance in calls of not more than Is. per share, and at intervals of not less than two months. DIRECTORS: ALPHONSUS TEMPEST, Settle r, Auckland. AKCK. A. DONALD, Grain Merchant, Auckland. DAYID AVHYTE, Broker, Hast ings. 1 Oilier two Directors will bo selected by the above three. The above Directors will hold office ti 11 .the Annual General Meeting of the Company to ho. held in 1915. BANKERS: T)io National, Bank,of Nqw Zealand, Limited. SOLICITORS: Messrs. Devore, Martin and Prendergast, Auckland. SECRETARY: J. B. Sheath, Imperial Buildings, Queen Street, Auckland, BROKER: David AVliyte, Hastings, Hatvke's Bay. a — The objects of the Company are to acquire from the Silverstream Mines, Limited, all its mining properties, machinery, plant and chattels. (1) Quartz Claim. •' (2) Advance Quartz-Claim. (3) Water Races. (1) Special Sites (Machine Sites) i (5) Special Sites (Battery Sites). BATTERY: The vendors also hold an option to purchase the late AYaitikaui'i Extended .Company's battery,'at present erected on the vendors' property, at a nominal figure W1100),- which will-effect,a saving to this Company of approximately £8000. ■" SITUATION: Tho 'properties are situated in the o"hinemuri District, nine miles west of Hikutnia Kail way Station, on the Thames-Paeroa Railway, Bauraki Peninsula, near Auckland. Access to the properties is by a good dray road, metalled, and having an easy grade. The REEFS: There ate four reefs, proved by mining on, tho property, and comprise two classes, viz.: (1) Silver Telluride (Hessite) and gold; (2) Silver Sulphide and gold. The principal reefs are known as tho "Queen" and "Julia," (Silver Telluride and gold). 7 feet 6 inches wide, and yielding ore worth £114 per ton downwards, and the "Camoola" Teef (Silver' Sulphide and Gold). 30 feet wide and out-cropping in both properties, and. which Mr. E.. F. Adams, M.A.1.M.E., says "gives-special promise in the making of a big mine." DEVELOPMENT!: Tho. yendor3 have proved ' the ore by driving in at a, low level and bulk-sampling. Tho reefs also > 6hpw out on the surface. From 200 'to'SOtf-feat/depth of the reefs can be won by gravitation.. The new Company proposes .to further develop. 60 as to establish positive ore reserves, and thereafter to proceed with the usual mining operations. As the reefs are now .well exposed and showing good values, a large portion of the development' to' be proceeded - with will consist of taking out the ore from the reefs. No sinking is required'— to carry out the present wheme of development, tha. haulage and' drainage being by gravitation. V.'bnn rises are made through the reefs td the out-crops, the ventilation will be bv.natural draught. Heavy initial outlay , in, expensive haulage,- pumpin?, "and ventilating plant is thus rendered unnecessary. This applies to all the reefs. . UNIQUE NATURE OF THE ORE: In no other part of New Zealand does ore of the nature of and in the form of the "Queen" and "Julia" ore exist, as Mr. E. P. 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 mixture with the reef matrix." „ " "From the data at my hand, by the most eminent authorities on ore deposits covering the world's mines Hessite is quoted as a mineral that has been mined to great depths in, many mines," VALUES OF ORE DEPOSITS: Mr. Adams', report says:—"Using £i per oz. for 'gold aud- 2s. 3d. for ' silver as the figures of market value, tho ore of the Silver. Queen pay chute, runs in value from £114 per _ ton downwards. ' The - bonanza or specimen ore met with, in mining on Silver Queen and Julia reefs carries as high as 1000 ounces of silver to the ton." "I estimate that a total tonnage of 800 ' long .tons has been broken from tho Silver Queen slopes. Of this 800 tons about 170 tons remains in the ftopes, and 630 tons have been shipped and paddocked, and givo an average gross ore value of £3 15s, per tori," ESTIMATED PROFITS: (Mr. Adams' report) "Allowing for tho slime-sand losses in concentration, losses in c.vaniding, mine stoping and handling and mill costs, the profit in ore of this value treated as just described would be £1 15s. per ton. These values-'are worked for silver at 2s. 3d. per 07,. . . . . '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' in tho reefs of this property is the abundance of Manganese, in the form of Pyrolusitc, contained in them for some depth below tho outcrops. The reefs arc, in fact, highly manganiferous near the surface, and have been for the most part subject to acid solutions down to and below the depth of present mining. Tho exceptions are those portions of the reefs carrying primary ore rich ill 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 hinher in nold." "Further, the experience is that at a lower level tho priniarv ore is not disturbed, being enhanced in va-luo by values deposited from the of tho u.pper portions of tho reefs." INSPECTION OF MINES: Arrangements have been made whereby groups of intending subscribers can inspect the mine. Application should IjeMnade to tho Secretary. . , ... CASH REQUI RED: The. cash required during the proposed stage of development is £G(KI0. Til" balauee of tho capital will be held in reserve for future expansion if required. . i . CLOSING OF SHARE LIST: To enable,the work at Hie mines to be proceeded with'without delav, tho share list will ba closed on Saturday, 30th -Mav, I'JI-t, at which data the Directors will proceed to allotment. ILLUSTRATIONS:, Full-page illustrations connected with this mine will appear in til? "Auckland AVceltlv News" and the "Weekly Press" of date Thnrsdav, 13th May, 1911." REPORTS, ETC.: Prospectus containing full details about the proposed Coinpanv, and .exhaustive Reports about tho Mine, af-says, bulk etc., together with photographs of the Company's properties, and a map o[ the reel's and proposed development: also Forms of Application for Shares can bo obtained from tho Secretary, Broker, or at any branch of the National Bank of New Zealand, Llmlte<l ' DAVID WHi'TE, Broker of the Ohinemuri Gold and Silver Mines, Ltd., • Queen Street, Hastings, , Hawko'a Bay.