MINING.

Te Aroha News, Volume XII, Issue 1761, 21 August 1895, Page 2

MINING.

We learn from a reliable source that the arrangements for the taking over of the battery, etc., at Waiorongomai, are now completed. The new company paying some £4,000 for tho property.

CADM AN LICENSED HOLDING. This mine is opening up well and promises to bo very remunerative to the shareholders. The reef which wo reported had been discovered some fortnight ago is being developed, and is showing gold throughout.. It is rumoured that the properties, in connection with others, is likely, to be offered on the London market, if this be true, with the introduction of capital to work tho ground, there is every reason to believe it will give hand"somo returns. Shares are at present changing 'hands, at £3O each, with sellers at that price. WAIORONGOMAI. The new Company are continuing the prospecting crosscut drive through the Buck reef ; they are now in about 40ft, tho prospects aro encouraging, (he ground being likely to carry a fair percentage of gold, Besides this work tho company are also putting in a drive near the Premier claim, with a view, to testing that portion or their property. TARANAKI. Prospecting operations are being continued, on this claim. The promoters areVaturally very reticent over their movements. They have included in the claim several well defined reefs, on which work will be commenced when the ground has been granted by the Warden. COLCONDA, WAITEKAURI The Waitekauri district still continues to attract a large share of public attention. A new licensed holding is now before the public, which has been named the Golconda. The area comprised in the holding is 90 acres, and it-adjoins the Waitekauri No. 4 and the Young New Zealand. The manner in which the. property is floated, is by dividing it into 100 syndicate shares, of which 50 are offered to tho public at £3O oach, the £ISOO thus acquired, less floating expenses, to be placed to the credit of the company. The shares were all taken up on Saturday. .The intention is to float a company with a capital of £15,000, in 100,000 shares of 3s each, and the matter is iu the hands of Mr I). 6k Mac Donnell and Mr H. C. Greenwood. -

TWO MORE WAIHI PROPERTIES Two more valuable Waihi licensed holdings are placed on the market, these are the Sir Julius, comprising 100 acres, and tho Mount Waihi, a similar area, both of which aro to the westward of the Martha. The pro perties have been selected -and surveyed by Messrs J. W. Walker and Charles McLean, and a plan which has beon prepared is oh view at Mr Brimblocombe’s offices in tho Stock Exchange, Insurance Buildings Communication has already beon opened with-London for the disposal of these holdings. , ' •