Page 16 Advertisements Column 4

NZ Truth, Issue 1181, 19 July 1928, Page 16

PROSPECTUS OF PADDY'S POINT GOLD MINING COMPANY, LIMITED (A Company to be incorporated under the provisions' of "The Companies Act, 1908.") CAPITAL * - £15,000.' Divided into 60,000 shares of 5s each, of which 10,000 shares fully paid up will be allotted to the Vendor m full consideration of the sale of water rights, water races, mining claim, and options to purchase freehold property. (See item under "Material Contracts."). , 45,000 shares are now offered for public subscription on the following terms:— 6d per share on application, 6d per share on allotment, and the balance m calls of 6d per share payable at intervals of not less than one month. 5,000 shares will be placed under option at the par value of 5s per share to the subscribers of the first 20,000 contributing shares m the proportion of 1 option share for every 4 contributing shares for a period of 2 years fronTthe date of m corporation of the Company. PROVISIONAL DIRECTORS: (Who wiU hold office until the Statutory Meeting.) ' ROBERT MOEN, Factory Manager, Dun- - JOHN STEVENSON, Retired Engineer/ ARTHUR GRIGG, Retired, Dunedin. ■ , HENRY HALLIDAY, Company Director, , FREDERICK PERRY, Retired, Mine Dunedin. Manager, Dunedin. . OBJECTS OF THE, COMPANY. The general objects of the Company are set out m the Memorandum of Association of the Company, a copy of which forms part of this Prospectus. The primary object of the Company is to take over from the Vendor, Mr. Joseph Stephens, of Waitahuna, his water race and right to 25 heads m the Waitahuna River (with extension and right to 15/ heads) and options to purchase certain freehold property, and his special alluvial claim of 19 acres. DESCRIPTION OF THE PROPERTIES < The properties to be acquired consist mainly of undulating country, the main portion of which is freehold ground, which the Company will be buying, and which has not previously been worked. The top of the cement consists of alluvial ground, which is really a portion of the cement deposit on which the action of Nature for many years has so crumbled the surface that ordinary ground sluicing operations can be carried on.. This alluvial deposit is cement, which has been broken up by the forces pf Nature, and hence is more quickly worked, and thus is better payable ground. This alluvial will provide many years' work for the Company before operations on the cement itself would need : to be commenced (vide Messrs. McColl Bros.' report). , ' , . When it is borne m mind that the early diggers made good money on the adjacent Crown Lands digging the surface and carting it to a running stream for washing purposes it can easily be understood that, with modern sluicing methods, and an ample water supply such as this Company will control, it will mean that this alluvial working on pur virgin ground will be extremely payable. : The cement deposit itself will take countless years to exhaust, as will be seen by reference to the clipping from the Otago. Daily Times referring to the Blue "Spur mining claims, which it must again be mentioned originally consisted of 54% acres, compared with this deposit of 250 acres. - ■• , The general prospecting work of these properties was carried out under the supervision of Messrs. McColl Bros., and their detailed report on this prospecting work shows that the property has been thoroughly tested. Thirty-five holes- were- dug, and average values won showed that the ground ran Is 2d per cubic yard over all; ; v " IMPORTANT POINTS FOR INVESTORS.; 1. The Paddy's Point cement deposit ranks with the famous Blue Spur • m. the opinion of eminent geologists, and the Paddy's Point Gold Mining Co., Ltd;, "will own an area containing nearly five times the area of cement more than Blue Spur. . 2. Thedeposit has lain unworked all these years owing to the absence ol a .water supply and the ground being freehold property. These difficulties are now overcome by the purchase of the freehold and the acquisition of one of the best water rights m the district, which will enable the Company to work 24 hours a day all the year round. . 3. The water rights are being acquired at a very reasonable figure, and the Vendor is taking his whole payment m shares. 4. Tfye Company is not buying a claim— it is buying a goldfieldat the price of agricultural land. 5. The ground has been thoroughly proved by prospecting, and the. reports of the prospectors are shown m full detail m this prospectus. Reports by Mr. Fred Ellis, J.P., arid Mr. J. McNeilly, both of which gentlemen are much, experienced m mining propositions, are also very favourable. " ''■■'■■ . \ 6., It is intended to. have the Company's shares listed on the Stock; Exchange^ 7. The applicants for the first 20,000 contributing shares will have the right to take up additional shares at the par value of 5/- per share for 2 years, -m the proportion of 1 option share for every 4 contributing shares applied for. , * 8. The Directors have already subscribed' for 4000 shares, thereby showing their confidence m the proposition. , , :• ,: WRITE FOR PROSPECTUS! To Mr. G. W.J, Bell,' lnterim Secretary, \ Paddy's Point Gold Mining Co. Ltd., . Trustees Executors Buildings, DUNEDIN. Please send me a copy of Prospectus of the above Company. . , Name ..••• „ . . . . . . Address ........ .^ .;.,. i

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