GOLD MINING IN THE NORTH. Auckland, April 30.

North Otago Times, Volume XXXVII, Issue 8172, 2 May 1895, Page 3

GOLD MINING IN THE NORTH. Auckland, April 30.

Tlio rapid and exton*ivo d^vo'opmunt of mines ii W.ihi and Kiruigahako is now attracting eorioua find wido-^p'eal attention, and tevornl visitors and experts from London and Australia h -vo lately been looking around these districts, with 'ho view of ascertaining for theniß'lvos iho truo va'uo of Iho mineral dopo is. There houiiis every probvbility tint mining will now bo establUhod on a permincnt taiia, and that the c-tpit tl s> necessary to opon out tho valuable qnar'z roef known to exist will bo readily subscribed in London for all fair tuid legitimnto enterprise^ Somo of tho recent vibitois nro gon<l»>mon of great mining oxpori nco, and some of them are wellknown capitalists of high stutid ng on the London Sock Exchtngo. It is ipported on good authoiity tint one of tho mines to bo takon over and developed is ihv Woodstock mine at Kaiangahako, wlvch is to bo tikon in hand by London cap.t-il-hts, who will at onco find L 350 000 of tho now capita), and m >ro if it should bo rcquirtd, to opon out the mine and erect n largo nddrion to tho ciuahing plant. Tho dotiils are expoc o 1 to 1 c fiX'id ii> the course of a fow days whon ihey will bo published and sub* mttvdtotho sh r.hi.lJova f >r onnftDination. The cnptal of the n»w c mipauy willprobibly bo fixod nt L150.00D. A naw Oimptny, to tako over the ti»ldou Cr.)fia and Komaia mines, in tho letter of which \b n. w includtd iho old and woHki own WaiUkuri minp, will frh..rtly be plicod upon the Lxidou mtrkot, and i a Bucco<*fiful floiting is nasured. It has already barn synlioa'ed thoro \>y Mr Thoiiiiis Russtll. Tliero aro some h'gul matters yet to bo arranged booro tho prospectus will bo issued in Lmdon, bur iho books of tho old company heio will shortly bo closed, The now comptny will hi»vo a capi r al of L150,U00, in Blnrjs of LI each, and out of this amount ample working capital will bo obbiinnd. Tho qld shiuvho'dei's »ro lo havo LI [irKluro refunded to thum in cash, and paid up shares to the ntn >unt of one-half of thoir prosont holdings will bo issued to them. Fifteen thousmd shires aro to bo nservod for a future issue, whilst a sum of L 35 000 in cash will be immodia ply available for woiking the mines, It iasUtOfl, on oxoel'ent authority, th t inbtrucuons havo boon received froti L^ondnu to o nn< pi i to forthwith all details th.it a o neo >ssiry to bring together a Lrga ami o >mploto crushing pUnt. Mr G. li. Purchase, of tho Thamo9, has beenapp>intod mmager of tho properties. Tho Ilauraki Cmipiiiy io gotiing vory rich stono. The month's crushing is estimated at over (IOOO.i/, va'ued at about L 25,000.