MINING.

Hokitika Guardian, 14 November 1925, Page 3

MINING.

POOLING INTERESTS IN KAAVARAD. AA’ELLINGTON. November 12. Acting upon tilt* suggestion of the Minister of Mines that there should be formed some sort of combined organisation for working the various claims on the Karwarau River (the lied „f which is to he exposed next winter by damming up Lake AAakatipu). and in that way aggregating funds and working the whole of the claims as one scheme, representatives of a majority of the companies concerned met here. Grim wade, of Auckland, was in the chair, and there were present representatives trom Auckland, AVairarapa, Wellington, Christchurch,, Otago and Australian companies, the latter holding one-fourth of the total amount of claims. It was explained by the chairman that, in the opinion of many, some sort of a working arrangement on the lines of the Minister's recommendations was desirable. After prolonged discussion, in the course of which many opinions were proffered and considered, the majority of interests concerned agreed that a company, to he called the Working Kawarau Claims, I.td.. he formed for the purpose of pooling all interests both in expenditure on plant, labour, etc., and returns. This resolution will he submitted hv representatives who attended the conference to the shareholders of each company concerned, and these will he asked to confirm the V action of their delegates. When that is accomplished each provincial group of companies will elect a representative to a Hoard of Management of the AVorking Kawarau Claims, Ltd., which, in due course, will appoint its own engineer.