A MILLION REFUSED

Taranaki Daily News, Volume LIII, Issue 179, 8 November 1910, Page 5

A MILLION REFUSED

FOR THE BULLFINCH. By Cable—Press Association—Copyright. Perth, November 7. Mr. Doolette states that he is not prepared to consider an offer of £1,000,000 for the Bullfinch mine. A FOREST OF PEGS. The Southern Cross Times of October 1.") thus refers to the Bullfinch find:— "There is a forest of pegs around the big property, and knee-deep paths round the pegs. Adelaide seems to have gone crazy over the field, and cute gentlemen are supplying an excited market with as much salt-bush as it cares to purchase. Outside the Bullfinch leases there is little gold being found, and, though the adjoinin™ rocks have a speculative value, because of their positions, nothing has yet been found on any of them to warrant the public rushing in alter interests at fancy prices. At Bullant lease some very fair values are being got; and on Lang and party's ground there appear to be excellent prospects. But outside these leases there is nothing to enthuse over. If the money that is b?ing risked on the Bullfinch position blocks Were devoted to the legitimate working of some of the excellent mining propositions that are scattered alongi our sixty-five miles of auriferous belt, investors would stand a better chance of getting a profit on their outlay, and the industry would get that measure of assistance which it has so long needed. Yilgarn has mines, and needs any amount of capital to work them. But capitalists must not lose sight of the fact that the Bullfinch owners have secured about 150 acres, and that every holding outside of tlie Bullfinch pegs is a gamble, pure and simnle. Whether it is better to go into the gamble near Bullfinch, or take less risks in good ventures on other parts of this great field, remains to be seen. "The absurd price of shares in the option syndicates who hold options over the blocks around Bullfinch may bo swaged bv ,the fact that none of the leases under the option have been surveyed or recommended bv the . warden. Most of the ground is in dispute. All of the eastern leases are in granite countrv and there are only a few traces of gold being obtained on the best of the other holdings. Altogether boomstcrs have an oilv, flimsy title over areas of very questionable value. If the pranks of some of the gentlemen who are working the option business, and people of the east are ( not nipped in the bud, we shall find Yil- > jam smelling in the nostrils of the people who rush in on the word of unscrupulous boomsters. "From Bullfinch 200 tons, which are not bagged, should sro anvthing up to 20oz to the ton. Altogether there are about 500 tons bagged' on the ground, which should average about Ifloz ner ton. From a block 100 ft deep by 100 ft in lnigth the luckv owners of ' Bullfinch should recover well over a quarter of a million pounds' worth of sold. Outside this phenomenal ore, the length of which has not yet. been ascertained, there ; s enough high-srnde stuff to make manv fortunes. A shaft was started some hundreds of feet south-west of what was thonsrht to be the boundary of the ore channel, but when a few feet from the surface ore was struck at (iOl't. Acrossent is being put in. On Thursday 30ft of hisrhlv-payable ore had been' penetrated, and both faces were stili in good values.