QUARTZ REEFING in TASMANIA.
Referring to the quartz reefs near Launceston, a Hobart correspondent says—Samples have in several cases averaged at the rate of no less than 40oz to 50oz to the ton, while on more extensive trials 4oz and soz to the ton have been obtained. Now, the Great Tasmanian and Florence Nightingale Companies, at Beaconstield, have both crashed at the rate of over 2oz to the ton, in very large quantities. The result of a late crashing of these two companies was brought into Launceston in the shape of two cakes of gold, which together weighed 38760z, or 2cwt Iqr IClb, worth £14,528. The directors of the Great Tasmanian next day declared a dividend of £3 a share, making a total of £4l a share, or £123,000. And the mine was bought by the six men who own it for £SOOO odd ! About one-half of the shares are held by Mr W. Hart, M.L.A,who, if the yield continues at this rate, will receive some £50,000 a year from this single venture, and there is every prospect of an indefinite continuance of these splendid results.
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Bibliographic details
Patea Mail, 18 June 1881, Page 3
Word Count
186QUARTZ REEFING in TASMANIA. Patea Mail, 18 June 1881, Page 3
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