COLLING WOOD COAL. MINING COMPANY (Registered).

Nelson Evening Mail, Volume VIII, Issue 6, 7 January 1873, Page 4

COLLING WOOD COAL. MINING COMPANY (Registered).

The following is the Directors' report for the half-year ending the 16th December, 1872 :—

To the Shareholders. of the Colling-

wood Coal -mining Company.

Gentlemen — In presenting this the eighth half-yearly report, your Directors have to congratulate you on 'the prospect they have in getting your mine thoroughly explored and opened up at a level considerably below that of your old workings.

According to the recommendation of your Directors at the last half-yearly meeting, mining operations were resumed, and every exertion made to obtain miners by advertising at the Grey and Newcastle, but without a satisfactory result. The Mining Manager, however, with two or three men, continued to get as much coal as possible, pending the publication of Dr Hector's report to the Assembly, of the result of his visit to the mine in May last. Some time in August, " Papers relative to the development of Coalmines," &c, were laid before the House of Eepresentatives, and the Superintendent immediately forwarded his copy to your Directors. In these papers Dr Hector gives a long and favorable report on your mine, and concluded by recommending the Government to render assistance iv putting in a drive at the bottom of the sfacot. Feeling pretty confident that Dr Hector's recommendation would receive the favorable consideration of the Government, your Directors immediately arranged with the Provincial Executive for the payment of the £250 voted by the Council, so as to enable them to commence the drive forthwith. A tender was accepted at 30s per foot, and the work proceeded with at once. About the middle of last month Dr Hector again visited the mine, for the purpose of making some further explorations, and determining by actual survey the length of the drive, which he now estimates at 613 feet. At this time the tunnel was in 102 feet, and Dr flector expressed himself perfectly satisfied with the work done. The drive, however, has been discontinued for about three weeks, owing to the contractors having thrown up their contract, but a fresh tender having been accepted, the drive is now being proceeded with, with a fair prospect ot being carried through.

Dr Hector called the attention of your directors to numerous ironstone bands existing in close proximity to the coal seams, and hinted at the probability of some of them beiug sufficiently rich to pay for smelting. He took samples from the various bands for the purpose of analysis, and telegraphed on the 13th iost., that " the band between coal-seams Nos. 4 and 5, which is two to four feet thick, will yield from 40 to 50 per cent of iron, and can be easily worked the other not sufficiently valuable."

It is expected that, with the drive now being pushed forward, and the fact that payable ironstone exists on the Company's property, confidence will be established in the undertaking, and that there will be little difficulty in increasing the capital of the Company so as to enable you to extend your operations. Until the drive is nearly completed, however, your Directors do not anticipate being able to do muchjseyond keeping the facts before the public.