The Moanataiari Mine. ITS PURCHASE BY A SYNDICATE.

Te Aroha News, Volume V, Issue 234, 24 December 1887, Page 8

The Moanataiari Mine. ITS PURCHASE BY A SYNDICATE.

A meeting of the directors of the Moanataiari G.M. Co. was held at tha office of Mr F. A. White to-day, to consider an offer for the mine which had been received by cable on the previous day by Mr R. Spratb from Mr P. Comiskey, who is at present in London. The syndicate represented by Mr Comiakey offered to give the present shareholders 25,000 paid up £1 shares, they to take up 25,000 shares 10a cash paid up, thus giving £12,500 to work the mine. The directors decided to accept the offer, and we tender stand that by this time a cable notifying Mr Comiskey of their decision has been despatched. The Moanataiari is one of the oldest and beat known^mines at the Thames. It has paid upwards of £120,000 in dividends, to say nothing of large amounts paid by mines nofc included in its area whioh in the early days of the field were autonomous.

Gold in Whansrarei District Some time since, a sample of stone from M r Dent's lanUrKaifcaraV near 'Whangaiei, wa B sent to Messrs Fras^r and Sons', pl^he Phoenix Foundry ,' for testing, that the propriety of continuing operations may be determined. The following is the result' of Messrs Fraser'a test : —

Assay value per ton, LO 13s 4 l-3d« This xesult; eorcainly justifies further prospecting.

A New Find. Whitljv* ahu Pa»y\, who navebeen prospecting tor tho pasc 9 nioncns at lo JViata, beyond Tapu have hucceedea in uneai thing a promising ieacter six mcnes tnicK, « wxacn dabs of gold are Ireely discotuaDlo Inn discovery is situated about 2 lmtea south ot Baker's claim/and is on the junction ot Mata and Gentle Annie creeks, An area of nine acres has been pegged oufc by the prospectors.

"Awharoa, December 17. Last, week Frierson and party, tribufcera in the Smile of Fortune mine, cleaned up a crushing of 14 tons of general dirt tor a return of 15 ounces of retorted gold, and this will , pay them fair wages for the time spent in breaking out the stuff. A trial parcel of matrix reduced for Pehnoll and party yielded 'Sozs. 'of 'xetofrted gold, ! which was quite up to expectations, and a much larger parcel will be crushed next I time.v - ■ • • v

WAiTEKAtfßi,.pQCs"mher ll^ [ Hollis and party, fcribubora ixfi tho-3^«**°-cleaned vtf» x l#nfr WPffc tifi.itt*' ! turn of 33ozs. .retorted gold, being fc^o prondot of % large tonnage of general cr^hinß 1( dirt. , , , " { " ; : . -$ „

oas dwt gra .ssay por ton (of 2,2401b) 0 16 8 bullion. ozs dwt grs Gold 0 2 12 £0 10 7 1 5 Silver 0 13 20 £0 0 02-9