MINING MEMORANDA. GYMPIE.

Tuapeka Times, Volume V, Issue 235, 1 August 1872, Page 9

MINING MEMORANDA. GYMPIE.

(" Times" to July 22.) The prospectus of the Monkland snd Inglewood Gold Mining Company appeared in last Saturday's issue for the first time, and by 11 o'clock on Monday morning there were 1350 Bhares applied for by G-ympie people above the number (7500) reserved by the prospectus for Queensland! On Saturday about 600 shares were taken up hi G-ympie ; and it became evident from the opinions expressed on a perusal of the prospectus that the local public had a very" high opinion of the ground and the enterprise generally. Subsequently, we learn, some of the stone already raised from the Inglewood reef was inspected, a favorable impression as to its payable qualities being the result; and probably this stimulated ihe demand for shares and caused the decided rush which took place on Monday morning. Maryborough seems to have acted with creditable enterprise and energy, 4700 shares having been applied for by residents of that town. In all, up to yesterday, there were 13,550 shares, or 6050 more than reserved for this colony taken up. It is said that one applicant disposed of such shares as may be allotted to him at one shilling premium; but we do not vouch for the truth of the statement. We give an opinion without hesitation that the public will not have reason to regret their confii dence in this enterprise. The terms ! are very liberal considering that the lease is one of the finest on the field, and that a great amount has been expended already in the development of the mine. The "Kockhampton Bulletin" lately wrote: "The winding-up, one after another, of our gold-mining and quartzcrushing companies is much to be regretted. And the more so because many of those connected with them are persuaded that with better management and a more abundant supply of capital, there would be ample scope for all the machines that have boen introduced into this district. A few pieces of stone, which showed good coarse gold, were taken out of the reef in- No. 1 north, California, in the drive that is being carried" in to the north ; the indications are very encouraging, and being very similar to those had just prior to a rich find which took place some time ago, it is ex pected that another good patch will shortly be met with. Anothe great find took place in Nos. 7 and 8, Monkland south, on • Tuesday and Wednesday, when about fifteen powder kegs full of specimens were got from the reef. The specimens really splsndid, and, taken all round, were about the best that have been found in the claim since the owners came on gold. The holders have now j a magnificent collection of specimens, the box, which is estimated to contain three tons, being almost full. In No. 6 south, the owners, Healy, Lillis, and party, are driving on the Monkland northerly from their southern boundary, and are getting out payable stone ; gold is obtained every time quartz is broken down. On Tuesday very nice specimens were met with, and on Thursday good gold was visible in the face ; the driving is being done above the break — between the 180 ft and 190 ft levels — and the reef is about 3ft thick.