Page 11 Advertisements Column 2

Free Lance, Volume I, Issue 32, 9 February 1901, Page 11

PKOSPECTUS OF THE TAKAKA SLUICING COMPANY, LIMITED. , Incorporated under 'The Companies Act, 1882," and its amendments. >> CAPITAL ... ~. ... £9500 IN 9500 SHARES OF £1 EACH. 2725 Fully Paid-up Shares to be allotted to the Vendors. 1000 Shares to be held in reserve for the prospective purchase of thebalance of Mr. A. Whelham's property. 5775 Contributing Shares are now offered to the publio on the following. terms : — 2s 6d per Share on application ; 2s 6d per Share on alllotment , and the balance in calls not exceeding 2s 6d per Share, at intervals of not less than one month. In addition to the fully paid-up Shares, the Vendors receive £800 in cash. The Vendors undertake to apply for at least 1000 Contributing Shares. DIRECTORS : A. S. BISS, Esq. S. KIRKCALDIE, Esq. F. G. DALZIELL, Esq. J. LOCKIE, Esq. W. WATSON, Esq. BANKERS : BANK OF NEW ZEALAND. SOLICITORS MESSRS. FINDLAY, DALZIELL AND CO., Wellington. BROKERS : A. T. BATE, Wellington. J. M. HUME, Wellington. SECRETARY J. M. BUTT, 27, Lambton-quay, Wellington.

r I IHIS Comnany has been formed to acquire and work mining privileges and. 1 mining areas, and, in particular, a freehold property of 100 acres on the Waikoromumu Creek, near Takaka, Nekon (owned by Mr. A. Whelham), together with a prospecting area of ICC acres, being part of Baker's Hill, ancL ad joining the freehold. It is proposed to at once apply for a Soecial Claim over the prospecting: area, or over such part of it as it may be considered desirable to hold. An option is also heJd over another 9 acres of freehold land, being the balance of Mr. Whelham's farm of 195 acres. This option can be exercised at any tune within seven years by the payment to the owner of 1000 fully paid-up shares in the Company. A Water Right of 20 Government Heads of Water has also been secured. The property is situated about half a mile above the Bubu Springs, and is about five miles from the Waitapu Wharf, with which it is connected by a road open for wheeled traffic. A small portion of the property has been worked, and is still being wqrkejl h} Mr. Whelham, who has made a sworn declaration that he has, within' thelast six years, taken gold to the value of at least £2000 from an area of leas than two acres. Mr. Peters estimates this amount of ground could be worked and cleaned " in three months. From the report it will be seen that the property affords every promiseof being Inghlv remunerative, and, in addition, it is the key and only outlet to a very much larger mining scheme, which can be formulated when the prppei time arrives. Attention is called to the fact that, in his, report, Mr. Jackson states- that of the freehold owned by Mr. Whelham, he estimates that about IoD acres are available for profitable nuniner, the remaining area requiring further prospecting to ascertain both the depth and character of the auriferous wash contained therein. The 100 acres included m the present scheme were selected by Mr. Jackson, the balance being held under option for seven years. Mr. Jackson also describes the ground as auriferous throughout. He further states that 2 grains of eroldi per cubic yard of wash would yield, under theconditions as to free fall, a very handsome proat. As regards the gold, he believes "most of it is comparatively coarse," and he is "cqnvinced that it exists throughout the wash m payable quantities. Whelliam's actual returns sugested that it is highly so. while the amount of ground worked, under most discouraging conditions, in the vicinity during past years points to the same conclusion." . Mr. Peters, who, it should be mentioned, acquired, with other gentlemen, including the above-mentioned Directors, an interest in the property after makina; his report, says — "I am pleased to state that it is one of the most desirable properties I have had to report on during my thirty years experience as a Mine Manager and Expert in New Zealand. Of the five or six Hydraulic Mines I have had under my charge during that time, not one do I consider bettor than this," and again "From the prospects I saw taken, and the gold shown me in the ditch, a more <!bund and sure investment is not to be found in any other property I know of." Mr Barney roughly estimates the ground worked by Mr. Whelham as giving 8 grains of gold to the yard, although the cleaning up was not close. The Water Race is estimated to be about 2J miles in lenerth, easy to construct, and requiring but little maintenance. The water will be brought on to Baker's Hill, from which it will command the whole property, and give a pressure of about 400 feet. . . . m .. , r The ''Takaka" River and its tributaries, including the •Waikoromumu, has been proclaimed Sludge Channel sin^e the date of Mr. Jackson s report. Mr Jackson's estimate of putting the ground in working order is *--*POO. The expenses of and incidental to the incorporation and notation will beborne bv the Company. Dividends « ill be paid per share, irrespective of amount paid up. The Vendors' Agreement, dated 28th January, 1901, is made between Mr. A. T. Bate, of the one part, and Mr. J. M. Butt, acting on behalf of the ComPail: The ff M h emDrand U U m rt and Articles of Association have been prepared and registered, and may be seen, together with the above Agreement, at the office ° f Pr^rtSSf'with full reports hv Messrs. J Howard Jackson, M.A.1.M.E., and Wm Peters, can be obtained on application to the Brokers.

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