OF UNUSUAL IMPORTANCE TO WAIHI.

Dominion, Volume 7, Issue 2153, 20 May 1914, Page 8

OF UNUSUAL IMPORTANCE TO WAIHI.

PROPERTIES TO BE EXPLOITED. (By Telegraph.—Pres6 Association.) Waihi, May 20, An application at tho AVarden's Court to-day, on behalf of Jas. Blackman, mining engineer, and several English investors, is 6t unusual importance to AA'aihi. ' They filed the application in question. for protection for two of the five claims in the old Romulus Group to the AVaihi Prince and AVaihi Princess mines. A declaration, which accompanied the request, showed that C. Rooko-Wil-liams, of London, had some months ago entered into negotiations with a powerful financial syndicate, who expected to be ablo to commence active operations on tho group of claims early this year. These negotiations, however, wore interrupted owing to the syndicate's largo interests in Mexico ventures becoming involved bv tlio serious trouble which has since invested that country. ■ Tho Withdrawal of certain capital to bo used in .exploiting the AVaihi properties was, under tho altered conditions in Mexico, rendered impracticable. This was an unlooked for set-back, and much valuable time was lost. Ultimately, AVilliams was successful with anothor strong English syndicate, who confidently anticipate the immediate raising of capital of £1-5,000 to carry out preliminary development work. AVith this capital they hope to nrovide sufficient proof of the value of the properties to warrant them in proceeding with the flotation of a larger company. The first work decided upon is' the putting down of a vertical ' bore of JJODOft. AVith this object, application is being forwarded to the Mines Department for the uso of tho Government milling drill. *