MINING NEWS. Thames, this day.

Te Aroha News, Volume V, Issue 239, 28 January 1888, Page 1

MINING NEWS. Thames, this day.

A moth moro healthy feeling prevails regarding mining mnttevs than has been the case for some months pasb, and the universal opinion appears to Be that brighter days are in store for the Thames. I have occasionally mentioned from time to time that some of those who were negotiating for the floating of one or two of our mining properties on the London market were sanguine of success, and I am now in a position to state that there is almost a certainty of English capital being introduced to this district. Those who have the matter in hand, and are endeavouring to dispose of the properties, have been very reticent regarding the contents of the cablegrams and communications by mail which it is whispered have lately been received, but by careful inquiries made within the last day or two I have been able to collate the following information, which ig thoroughly reliable.

The Foreshore. I have also the best authority for stating that fche portion of the Thames foreshore on the northern aide of Goods Wharf has been floated in the London market. Negotiations have been in progress for aome time between Mr Darrow and an English syndicate,, and a cablegram has now been received which places the matter beyond all doubt. I understand thatthe owners of theforeshore — for there are others besides Mr Darrow — are to receive 75 per cent., it having been arranged that the ground, which contains an immense deposit of tailings, shall be worked somewhat on the tribute system. The lease hold by Messrs Dunlop and Tapp on the southern side of Goods Wharf, which has already been floated, is also likely to be worked in a systematic manner at no. distant date. Mr Dunlop has received £100 from the directors of the Company in London to pay up back wages, and I think business is now meant. There 13 just a possibility that this foreshore lease mar be amalgamated with that of Mr Darrow, bub it is somewhat premature to haztrd this opinion.

How the Tailings are to Y>e Treated. , Ib has nob yet been decided how the tailings will be treated, but there is not the least doubt that the most improved machinery will be erected on the ground, and every effort be made to give the tailings deposits a fair trial, and prove their valuableness. Letters containing details as to the mode of treatment, etc. , are expected by the next mail. Since sending my previous message I have been shown the correspondence that has taken place re Mr Darrow's section of the foreshore, from which it appears that ' the tailings are to be worked by the Newberry • Vautin process, which is to be introduced here by the recently - formed New Zealand Company. • Mr Darrow is to obtain the tailings and provide labour, for which he is to receive 75 per cent, of the proceeds, the Company deducting the remaining 21 per cent, for heating. The Company guarantee to treat \ 200 tons per week. j

The IMewberry Vautin Process. I have also good grounds for stating that the Newberry - Vautin process is to be introduced here, The building and plant of the New Zealand Smelting Company, on the beach near the Goods Wharf, have been purchased for £800, and will be the scene of the introduction of the Ne wherry- Vautin process at the Thames. It will be recollected that an English company purchased the sole right to the process, and sold it, so far as this colony was concerned, to the New Zealand NewberryVautin Company, from whom, I am given to understand, the recently-formod Waihi Gold Mining Company have purchased the right to use it for the treatment of ore from their mine. Whether it is to be introduced to the Thames by the New Zealand Company or a number of genfemen who have acquired the right to use it at the Thames, I cannot ascertain, but certain it is that its introduction to this district is on the tapis, if not actually decided upon,

Prospects at Coromaodel A gentleman who returned from Coromandel on Saturday, informs mo that tho prospect of affairs at Coromandel is improv* ing very much, and thero is a permanency about it which the place has not known for years past. Mr Hodge, the manager of the Kapanga and Coromandel mines, is employing at present over 100 men in the former, and between 60 and 60 in the latter, and I understand that the wages of all these employees are paid out of the proceeds of these mines. The Kapanga shaft is now down over 500 feet, and tho Coromandel about 185 feet. New machinery for the latter is expected to arrive very shortly from England, when it is intended to sink the shaft to over 300 feet. Mr Argall, who has been sent out by an English syndicate to report on the Mammoth and other mines, has visited Coromandel, and speaks very highly of the above-mentioned claims and of the excellent management of Captain Hodge. Carpenters areliaving a busy time of it erecting new houses, and there can be no doubt that Coromandel has a bright future. Gold has recently been traced in quartz reefs in freeholds in Coromandel, which perhaps may be a check on mining to a small extent, as freeholders, as a rule, are not so liberal as the Crown. Auckland Star correspondent Jan. 24.

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