MINING INTELLIGENCE.

Nelson Evening Mail, Volume V, Issue 286, 5 December 1870, Page 2

MINING INTELLIGENCE.

I — ? — MR. H. J. L. AUGARDE S WEEKLY REPORT, Culliford Shares, £2 10s. paid. A few shares changed hands this week ai ls 6d, discount, beyond this, we have nothing more to report. The • necessary works are being proceeded with, aud or the completion of work in hand, and the arrival of some requisites from Australia, the first crushing may be looked for, The half-yearly meeting of shareholders took place on the 30th ultimo, when the accounts, being satisfactory, were passed unanimously. Perseverance Shares, £2 paid. Inactive. The adjourned meeting ol shareholders took place on the 28th ultimoj when the propositions emanating from the Directors, and which have already beeo reported, were agreed to. Next week the negotiations will be settled, as several ol the promoters are coming over. The battery is at work, and has been working night and day, water being more plentiful. Pioneer Shares, £8 paid. Nothing whatever doiug. All action in this company seems to have ceased for the present, and unless foreign capitalists come to its aid, it is likely to die a natural death. Lucky Hit Shares, £10 paid, Dormant. . Masonic Shares, £12 10s. paid. No business. Mount Ophir Shares, £9 paid. Nc change. Commercial Shares, £19 10s. paid. Inactive. The meeting held last Saturday, was not of much importauce, and future action is uucertain. Collingwood Coal Company's Shares, £140 paid. Heavy. No disposition for business. The price of coal is reduced, and the quality improving still. It is evident that capital is required to develop the mine, and thus enable the Company to procure coal that can compete with the produce of other mines. At the general meeting about to take place, it is hoped that some means will be adopted by which capital cau be procured a u d thus enable the shareholders to put a large amount of coal on the market. Dokan's Gold-mining Company, lOs. paid. Shares are being taken up in this Company. The machinery is in haud, and all works are being pushed forward with vigor. The call of £l per share falls due ou the Bth inst. Waimea South Quartz Crushing Company, 10s paid. Machinery hourly expected. . The busiuess in our Shares continues to be very limited. Indeed we must not expect otherwise, in the present state of our mining speculations. The question of water for the Perseverace mine is likely to be settled, as several of the promoters are coming over next week. Before long we may hope with some degree of certainty, that this mine will pay good interest. It must not be forgotten that this is the first and only mine or Company, from which such a return as £3000 has been procured, and now good management is all that is required. Our efforts in the Wangapeka district are progressing rapidly, Cuiliford's battery will soon be crushiug ; Fawcett's twostamper battery is testing another reef which has been lately discovered and it is hoped will prove auriferous. The report of Mr. Davis, Geological Surveyor, is certainly not encouraging, that is, if we could thoroughly believe in it, but no great amount of faith can be placed in his statements, for unless he is a clairvoyant is would be impossible for him in the short space of time he was at Wangapeka, viz. 24 hours, to judjre of the resources of this particular reef. We have not only seen any amount of specimens, but one and a-half tons of quariz, not picked, but taken as it came in the presence of some of the Directors, men belonging to Nelson who are known to us, and whose interests are identical with our own, were brought down and sent to Australia, where it was tested, the result being 2ozs. of retorted gold per ton. This is a- stubborn fact not to be got over by all the Geolosical Surveyors in the universe, and time will prove that Mr. Davis ran over his ground rather too fast.