Page 3 Advertisements Column 4

Dominion, Volume 7, Issue 2148, 14 May 1914, Page 3

ABRIDGED PROSPECTUS OF THE OHiEIEI mm & SIIYEE MINES LIMITED. PREAMBLE. The promoter, 'in approaching the flotation of (he present Oomnauv dat>s <-o with a full fern*. of the responsibility Attached to a wwk of this &«" it its hifn"nn" !S Mpltalists t0 sUk, -' t!lDn " m(wy "' na usidertakiiig which is as yet in But he has niai the most searching'investigation?, with Hip ->h1 of scimtiflr authorities of the first water, and hensmsubmit? the full harticubrV with-it fear „ of challenge of any scientific authority in the Dominion partlcumrs wthm fear I. He is aware that in the past, inconWlon with gold propositions, gambling speculation has overpowered the judgment.of Promoters and Directors, ami wasted d the assets of shareholders, thus rcsiiltinsr in disaster to the Companies concerned. In some instances Promoters and Directors hare been entirelv raided bv exJ perts who were either incompetent or otherwise unreliable. This 'has shown "jt«»lf jj in various ways in Ne«- Zealand. •In other easts blind pluncing lias led to the: expenditure of fortunes ;a buildings and plant before development wotk has been donfe to ascertain if there is sufficient . ore in Right to warrant such «iwmli.ture. The subsequent development works, hav- - ing proved the absence of such ore, there remained enormous buildings and expensive plant t>nrre<! in the mountain passes, a monument to the blundering actions of - the responsible parties concerned. L ' t' II L y , e } ei t er 9 a£ * s, i ,!dia(i f , ' s * f .<! r ,? havin e t«en found, the capital of the shareholders has been absorbed in bindings instead o f utilising tt to produce positive ore fSsefves, and.tmis justify the further expenditure in buildings, In still further easts sheer criminal gambling lias been at the; bottom of ail the trouble, and nnasspectiaß people have been lured into the net, to their, ultimate n ruin. 'f A large section of the investing public are also equally to blame- far plunging ■i into ventures of the kiijd without taking ordinary business 'precautions, and making sound investigations before risking the money. . • Thus the mineral wealth of New Zealand, ■β-hish bv the way lifts only yet been scratched on the surface, is left, a rooHiinieai t© our folly, and a prey to'generations to come. \ I With a good knowledge of the history yf mining in New Zealand, and a due ■ sense of the responsibility attached to tha promotion <st a. miniap company, -every ■;■ endeavour has been pat forward by the Promoter of this Company to (1) Ascertain the true state of tire assets now. offered in this Prospectus, and d for this purpose i (2) To secure the report and advice of an engineer of the- highest standing and wide practical experience, , . (3) To frame a plan ef development that will adequately test the values ais'd extent of the' ores, and Safeguard the capital of the shareholders, on 6ound commercial lines, and free from every element ef gambling. . (i) To keep the control of the Company in the hands of men Who Will develop it m the best interests of the shareholders and Testore the public confidence in a class of investment which, will yet prove to be one of the i. greatest wealtii-pr-odueers of JS'ew Zealaad. (5) To secure the services of ii Manager whose will be a guarantee >■ Hwt the capital will be exHsmte-d ia a sound, 'economical, practical and ~ scientific- manner so as to produce til* best possible results. The preliminary investigations, and poetical testa, necessary to justify the pro- . duction of this Prospectus, and the , flotation of the proposed C&mpany, 'hare cov- ■ ered a period of twelve- month*, oi which the last two months have been occupied by Mr. E. F. Adnins, the well-known and hiehiy-trusted Mining Engineer, in «x- - - amining and sampling the exposed reefs, contacting surveys, and framing a plan '• of development and estimates of expenditure necessary tu tlirj. successful ttevelop- '• ment of the mines-. s % He commends to you his report, which forms part of the Prospectus. Cognisant of the responsibilities as stated- above, and with inside information r of tho rare prospects of our wines, which information has been known only ta the Directors, their advisers, and ths Prompter, he launches this Prospectus with' the , satisfaction of knowing that Vfi have .&eted wnsdentioasly in ascejtalniftjj all [lie facts of the ease possible for man to asce.rfcq.in, and has withheld nothing from ■ jthe knowledge of those whom lw invites to becqnio shareholders. , _ The net result of ear investigations can %& summed nj> in the statement- modein the first part of Sir. Adams's report;—" The Mine has bright prospects and shows by favourable indications a capacity to reach big mine standard, with mod. erate outlay in prospecting and development," To enable prospective shareholders to make themselves personally aeQuaintad , with the property, arrangements Viave been made whereby any borta-fide investor r can visit and inspect the mirtcs, 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 f»r minute inspection. ' If My group of prospective shareholders <tas.i res to send an expert to inspect on their behalf, the Promoter will be only 100 pleased to afford, every facility to ( such 1 expert. Onr Miniug Engineer, Mr. E. P. Adams, will T» available, on'vear sonable notice being given, to accompany .experts or groups of prospective shareholders, and make every point clear. He is authorised to give the fullest infor- . niation possible. Any bsna-iWe prospective subscriber is at liberty to take samples from the drives, and hare their oivn assays made. The v Directors are so satisfied as Id the genuineness arid prospects of the mines that they leave the door open fgt the closest scrutiny, i Appointments for inspection ehouid he made with the Company's Secretin - Mr. J. B. Sheath, Que-sn Street, Auckland. " (Sg<J.) DAVID AVHTTK, Broker, i CAPITAL: £ItO,Oett IN 22O,CftD SHARES OF Ids, EACH. 110,000 of theie shares are issued fully paid to the prosent .owners of the pro- |- perty. ■ . The vendors do not receive any cash as part payment of the property. '■' ' for public subscription on the folJowin'"? tfti'iiis: Is. per' share on application; Is. per s-h;ire on allotment; Iwlaucp in calls of not more than Is. per share, and at-intervals of not less than two months. DIRECTORS: . ALPHOSSTJ.S TEMPEST,' Settlor, Auckland.. ARCH. A, DONALD, Grain 3techant, Auckland, DAVID WHYTE, Broker, ■ Hastings. Other two Directors y.'ill be selected by tho above three. ' The above Directors will hold ofice ti 11 the Annual General Meeting of.fh" Company to be held-m 1915. ' ' * ■ BANKERS: The Xatiosal Bank of New Zealand. Limited. ' SOLICITORS: .Heesi's. Devdre, Martin wnl Piende-r*ast, AaeWaml. SECRETARY: J. B. Sheath, Imperial Buildings, Qxtcea Strwt, Auckland. ' BROKER: David AVhyte, Hastings, Harte's Bay! i ••. 4 Th n ° b J ects - e - f t,lB e ° w p. ati y «re to acquire from thcSilverstteam Mines, Limited, all its minJuir properties, machinery, plant and' chattels. > . (1) Silvers-tr*aM Qaartz Claim. i ■-."' &> Ailvaiioo Quartz Claim. . (3) Water Sa-ccs. ■' ■ . (i) SpBC-i.ll Sites (M-acliise Sites) (5) Special Sites (Battery Sites). ■ , AT . T I ER . Y: 'i' He t«"<J«« nlsa hold an option to purehas* the !ate. Waitikaun Extended Company s battery, at present erected on the Vendors' prencrtv at a nominal figure W110B), which will effect a saving to this Company of appros'iSITUATIONs 'l'lie.prepertics arij situftted in the Ohinemuri District, nine miles west of Hikutaia Railway btatio n, on the Thames-frveroa Railwav Hau raki Peninsula, near Auefehmt. Access lo the proportios is bv a good clrnv road metalled, and having an easy grade. * ' The REEFS: There are four reefs, proves! by mining on ttfl proeertv and ' comprise two classes, viz.: (1) Silver Tellurite- and gold; (2) Silvi'r ' Sulphide and gold. The principal reefs are known -a-s the "Qu«ft" aad"'Julia'" (Silver Telluride os-fl gold), 7 foet 6 inches wide, and yielding ore worth JUI-i per ion downwards, and the "Catooola" reef (Silver Sulphide and Sold), 30 fort wide and out-crop-ping in both pr-spertifi e, and which Mr. 35. jp. A<lams J1.A.1.M.E., says ''gives special promise in the making of a big mine." ' " " DEVELOPMENT: The vendors hayo pioved the ore bj* driyiiig in at a low level ami bulk-sampling. Tho reefs Also stow out on ! the sßrf-ac-> From 200 to 500 feat depth of the roef s can be won by gravitation Tlie' new Company proposes to further develop so as lo establish positive . ore reserves, and thereafter to procwd wifli the! usual mining aneradons As the reefs ar? now well einosed an f j showing values, a kr-«e portion of the developmeist to be proceeded with will Wnsist of takine out the ore from the reefs. No sinking is requirert to carry ant the present scheme of development, tho n&ukge and drainage Win? by gravitation Wheft rises arc made through the .raefs to the autcrops, the ventiktioa win bo by natural draught. Heavy initial . outlay in expensive haulage, pvimn- : in», and ventilating plant is thus rendered unaeeessa.fy. This apiSies to all ' the reefs. • ' ; UNIQUE NATURE Of tHE ORB: In 110 other part of New Zealand does I ore of the nature oj ami in ths form of the Queen and "Julia" ore "jhf as i Mr. E, F. Adams reports:— • ' ' i "Hessit-g is well known on this peainsula, in various mine* but in no other instance ai a considerable deposit or 4s in intimate mix" turo with the reef matrix.' "From Hie data at my hand, hy the mosf eminent authorities on ore deposits covering- the war Id's mines Messite is qtuoted as a miiierai that has been mined to great depths in many minss." VALUES OF ORE DEPOSITS: Mr. Adwns' report £i wt , oz. for gold and 2-s, 3d; for silver as the figures of market value the ore of the Silver Queen pay chute, runs in valee from £l\i per ton downwards. The bonanza, or specimen ore met witls in minin" on Silver Queen and Julia reefs carries as high as 1000 ounces of -silver t«s the'toß." ! "I estimate that a totel tonnase of 80» long tons has been hroken from I tlie Silver Qneen stepes. Of this BSO tons ulxrar HO tons remains in t'h'o stopes, and 630 tons have bean shipped and pad-decked, and give an averaoe I gross ore value of £3 15s. per ton." . : ESTIMATED PROFITS: (Mr. Maws' report) "Allowing for the slime-saad 1 losses in . concentration, losses in cjwniding, mine stoptts? and hawlli.nff'and ; mill costs, the profit- in ore of this value treated as jiist described would 1 . be £1 15s, per ton. These values are worked for silver at 2s 3d ns-r ' oj. . . . . 'With silvejs at 2s. 64.'per oz,, {he milline profit 'would rrSc from £1 15s, to £2 per toft.* '* . * I STRIKING FEATURES IN THE REEFS; (Mr. Adwnft , re.pertt "The most ; striking feature in the reefs of this propertj- is the atawlance of . Manganese, in the form of ryrolusite, eo-ntained in them for some deoth ; below- the outcropg. The reefs arc, in fact, highly lnanßanifeiwis near : tho surface, and have, been for the most part subject k> acid' solutions down : to and below the depth oi' present mining. The exceptions are those nor. 1 tions of the reefs carrying 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 fewsls will be found higher in aold," "Further, the experience is that at n lower level the primary ore is not. <Hs ; turbed, being enhanced in value by values deposited from the leachiu"s of the upper portions of the reefs/' : INSPECTION OF MINES: ArraugeineiUs have been made v.-hcrobv ?r-oims ef > intending subscribers cau .iu-spoct the? mi lie, Apjiiication should be marie to thn I Secretary. ' ' ' | ! CASH REQUIREDr The cash required dm-in? (ho proposed sta-c ef dewl™ ' , ment is JJGOOO. The balance of the capital willbe held in reserve for ftitereo?" ', pansion 'if required. . ■» '' " ' ~I C LP ,S| N{ 3 ,°. F SHARE LIST: To, mabte th« werk at the mines t<, be proeudod , I with without delay, th* share list will bs clo.-«l on Saturday 30t!i Slav 11U at I which date the Directors will proceed to allotment " ■-■■-> •"• • : ILLUSTRATIONS: Putl-paM illuetrations ■connected with this mine will appear ' . m the "Auckland Weekly >iews" «ml the "\\eebly i'ves-s" of date Thursday. 13th ' ■ REPORTS, ETC.; Praspeetus rantoinin? full details about Hie proposed ' • Company, and p.xhaiistjvo Reports aixmt (be Mine, bulk t"-t= Vk "to- ; 1 gether ivitli photojr.i-plis of the Company's propprties, oi'-d;i niati ef the'rccfi* and s • proposed ilevelopment; &hs> Forms of Application for'Sh&res can'be" oljtiiinM'frofti ■ the Secretiirr, Broker, or at any liraneh of .the National Bank of N«w Zealond, Limited. ' i Broker of the Ohinemuri Gold atsd Silver Mines', Lid,, "' j Quern Street, Basti«g& I Havrto J s B.aj, i J