MINING

Hokitika Guardian, 15 September 1933, Page 8

MINING

(Goldstandard in N.Z. ‘‘Financial Times.” Blackwater.—London buyers taking advantage of exchange have- hardened market and made them dear for local investors; good stock and wiil have good returns, but it must be remembered that the capital is £250,000. Consolidated.—Hold controlling interest in Blackwater. Anticipate they might come out. with a fresh float. Paid to 4s. Moonlight Goldfields. —Sluicing claim near Ngahere. Sponsored by Hamilton and Hamilton, Christchurch. Deserves support even if only on account of the manner contributing shareholders are protected as against vendors. Capital, £35,0C0; vendors, £14,709; area, 320 acres. Moonlight, Nelson.—Near the above company. Heavily overloaded, but if it measures up to the engineer, Mr W. W. B egg’s estimates, is a fair bet. Capitab £IO,COO. Vendors, £11,250. Area 19 acres. Oka-rito—Getting into better ground. Plenty of, money in hand. Dredge will he five years on present cut and seven on the homeward one. Present dredge with renewals and the addition of screen or tables will sec the claim out. At present changing angle of pipes and this will be of service for years to come. One of the best stocks in New, Zealand. Wnitahu. —Slip on the line will be cleared in a few weeks, and in order to make a .permanent job are tunnelling under this.. Vendors’ share are now free for sale but the majority are holding, thus showing their faith in the company. Good buying now. Starting in October and around December should be,having good returns.

Big River.- Aline looking good. Ore did not crush as well as former lots, but there is a big body of gold-bear-ing ore and this stock makes this well worth attention.

Snowy River.—Getting back to better, round and good wash-up should eventuate. At present at substantial ■discount and.those who like outsiders should have ,a small holding. ! Alexander. —On a good block of stone and regular dividends are to bo exoected. ■'

.An experienced engineer nominates as the best mining investments: Okarito. Golden Sands, Alexander Reefs, , Gillespie’s Beach, Big River; we add Wajhi, Blackwater, Vaitahu, Glen Roy, King Solomon. Briain Born.—Returns indicate that if the dredge! can; be successfully manoeuvred to lower ground ahead the company may yet prove successful. Caution -advised. The dredge is an excellent one : anld should prove most satisfactory., Lawson’s Flat.--Results to date Ravebeen'disappointing ; but there is change of management from which much is expected. Good gold, but heavy expenses. "Unless output is increased disaster is ahead. Advise caution.

MINING PROSPECTUSES. A resident of Hamilton who communicated with the Minister for Mines (the Hon. C. E. MacMillan) regarding allegedly erroneous statements made in the prospectuses issued by mining companies lias received the following reply from the Minister: “I regret to state tliat I am not empowered by law to take any action in connection with the prospectus issued by a mining company, but if you are satisfied that any statements in a prospectus are contrary to fact, and you have absolute proof thereof, it is -open to yourself to consider the question of ventilating the matter in the public oross. Moreover, ,if the promoters of a company have misrepresented the position in the prospectus the shareholders have their remedy at law.” ■' .