MINING INTELLIGENCE.

Nelson Evening Mail, Volume V, Issue 125, 30 May 1870, Page 2

MINING INTELLIGENCE.

Dun Mountain Quartz. — We have been shown to-day a letter received by Mr. Sclanders from Dr. Hector, giving the analysis of certain specimens of Dun Mountain stone, which had been sent to Wellington to be tested, and on being analysed, were found to contain distinct traces of gold. Dr. Hector is of opinion that the appearances are such as to fully justify the thorough prospecting of the district.

The Wangapeka. — From a gentleman who arrived in town to-day we learn that after driving a tunnel for some 180 feet the proprietors of the No. 2 South claim have succeeded in striking lhe reef and bave taken out stone iv which thp gol<! is plainly visible. The directors of the Culliford Company have entered into arrangements with Mr. Thompson for furnishing •• n ostimate of tbe cost of a battery -,\- <l .-beds to be erected on ihe company V .'.round. Mr. Thompson starts to-iiif'i'.oiv .;i il will report as soon as possible, and, in the event of bis terms being accepted wili undertake to have the machine set up in five months time from this date.

MR. H. J. L. AUGARDE'S WEEKLY REPORT. The operations in shares have been much retarded this week on account of the great events expected to come off, consequently transactions have been few. Culliford shares, £l 5s paid, have changed hands at one-eighth per cent premium, and the market is firm at that price. The call announced for the 20th June, of 12s 6d per share, checks an upward tendency, yet the anticipation of good news from the crushing of stone sent, to Australia, counteracts any downward inclination. Perseverance shares, £1 10s. paid. Tbe few operations in these shares show that the holders are quietly awaiting the long-looked for crushing, the machinery is all in order and woiks well; the delay seems attributable to weather as mucb as anything. Shares were purchased at the old quotation, viz.; £2 ss, being 15s premium. Pioneer shares, £6 paid. The business transactions in these shares, have been more spirited. We have an advance of £1 per share, causing shares to change hands at £8. This confidence is founded on the fact of the 30ft shaft beiug completed, and the previous good opinions being confirmed; Indeed the foundation of a large public company may be daily looked for. Lucky Hit, £5 paid. Shares in this company still maintain their position. Businees done at the old quotation, viz.,. £7 10s for quarter-share. In the face of a call of £2 10s shares hold their own, showing they are in good hands. Masonic shares, £10 10s paid. No business, though many enquiries. Commercial shares, £15 paid. These shares have been in the background for ; some time, but found favor this week at £10 per share, being £5 discount. We canuot boast of much business this I week. The Culliford company having I struck the long-looked for reef, doubts are dispersed and we may now look for active measures with regard to machinery. The arrival of a two-stamper battery for private enterprise, to be worked at Wangapeka, is really a move iv the right direction at last. There appears no doubt about the copper at Collingwood, and a company will be speedily formed, and we may look to having coal and copper developed in that district. There is every prospect too, of the Lucky Hit being formed into a public company. We may soon now hope to see the results of our little speculations in small but substantial crushings.