THE BROKEN HILL MAROTOTO COMPANY.

Te Aroha News, Volume V, Issue 259, 28 April 1888, Page 2

THE BROKEN HILL MAROTOTO COMPANY.

Tehe prospectus of the Broken Hill Marototo Silver and Gold Mining Company (Limited )r) r is published in the Sydney papers. Capita} is £85,000 in £1 shnvos ; The prospectus states :—40,000: — 40,000 will be issued as fully paid up to 20s per share ; which will be retained by the present proprietors as part payment for the property. 4*5,000 shares, to be issued as paid up to 7s per share, are I now offered to the public on the following terms, viz., 2s Gd on application, and %s fid on allotment!, upon payment of which scrip will be issued as paid up to , 128 per share, IE necessary, the balance 'of 8s per share will 1 be called up, aff required, in calls not exceeding 6d per month, The amount realised fiom the sale of the 45,000 contributing shares to be appropriated as follows :—£6ooo: — £6000 to" go to the present proprietors, to complete the purchase of the property, and the balance of £5250 will be placed to the credit of tlie company, less the usual charges for brokerage, printing, etc. ; The provisional directors are : John Nobbs, Esq., M.L.A., Robert Precious, Esq., J. H. Sharp,. Esq , J.P., G, W. Tate, Esq., Win. Archer, Esq. It is further "stated : " This company is being formed for the purpose of purchasing and further developing a 1 ten acre block of land situated in the celebrated Marototo district; near Hikutaia, county of Ohinemuri, in the Thames Peninsula, New Zealand. A rough sketch, showing the position of the property is attached. As this ore is remarkably rich, it can be bagged and forwarded tt>- Grahamstown for treatment, which is twenty miles from the mine, and where large works are erected for the reduction of this class of ore. The facilities for getting the ore are very considerable, as tunnels can be driven and the ore raised and shipped at a very small cost ; it is, therefore, not likely that any calls wll be necessary. The lode, which runs in a north-easterly and south- westerly direction, can be traced through the block, which has been opened out, and samples taken indiscriminately therefrom have been assayed, and have given up to 310102S silver, and 1660zs- gold." A report by Mr G. S. Jakins, and assay certificates by Mr S. S. Yale and Mr J. A. Pond, are appended.