OHINEMURI.

Waikato Times, Volume XXXVI, Issue 2904, 24 February 1891, Page 2

OHINEMURI.

Minimi : A HorEtTL Outlook.—The topic of the day is of coi-.rse W.ahi and what is called the plienwnonal rise in shares of the Waihi (loldmining Company, lhere is really nothing phenomenal about it. Contrary to usual procedure the prosent rapid rise is due solely to the public having become aware of the immense resources of the company's mine. The present value of the shares make the the mine worth about £300.000 while the expert report showed that it U worth at least half a million. The actual value of the ore is not known, but the bullion speaks for itself, there being considerably over half a ton, and the bullion is worth about 25s per oz. As it takes 14 oz. lldwts. liters, (troy) to the pound (avourdupois), there sluuld be about 17,000 on ha'id. This will not all be sent away at once however. The success of the mine is duo to 'ho great improvements in the plant, a full account of which will be found in Bond's Waikato Almanac, and aiso and of u course in a much greater degree to the splendid quality of tho ore in the Martha mine, which is a comparatively recent purchase. Tho old Martha Company, who worked on one wall of the reet for barely payable returns had no idea of the immensely rich deposits a few yards from them, and it was not until Mr Russell bought the claim for a trifling sum, comparatively, that the cross cut was put hi which proved the valuu of tho reef. There, however it ij, and there are many years crushing dirt in sight. What I have reÜbftedly said about Waihi has come true at tout, and I believe its history will be repeated at K-m>.ng.ihake whore there is yet an imnmieusß amount of aurifprous country barely scratched. Capital is what is required, but it must be mixed, like bir Joshua's colours, with brains. The Crown, Woodstock. Kenilwork, Adeline, Grand Junction, Talisman and others are all promisiii" properties and are boinid to come tu the fore even as Waihi has. At Owharoa and Waitekauri, more especially the latter, there is a very large amount of prospecting goiug on. Messrs Abbot and Morrin hava Buveral parties out and prospects ara good, Mr Russell has thirty cirponlers out fixing up tho water race etc. at Waitekauri, and actual mine work will soon be started. When cleaning out the old buttery building all the mullock w.is saved and on being treated returned £300 worth of bullion. At Wharekenaupunga Mr Fagan, lato of Hikutaia, has dropped on to a decent reef, and thn Whangamata reefs ara being well tested to good purpose.