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TEN MILLION TONS OF ORE.

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TEN MILLION TONS OF ORE. A Company will shortly be brought out for public subscription, for the purpose of acquiring and working as an industrial busi- ness, a body of gold bearing ore, which is said to be the largest in th £ world-undoubtedly the largest owned by oqe Company. Probably no other Company hatf ever come before the public with a property containing so large a quantity of the raw rqaterial developed and ready for crushing, and it will readily be seen that the undertaking is quite an in- dustrial business, and very different from ordinary mining in wllich the quantity of ore obtainable has too (iften to be ascertained after the formation of the Company. In fact there is no mining," ip. the sense of seeking for ore, to be done; thfJ object being to erect machinery and crush the enormous supply of ore which is already available and which the Company will acquire. The property was secured several years ago, on behalf of English purchasers, and over six years have been spent upon development work in order to thoroughly prove itft value and resources before issuing the shares for public sub- scription. Since the completion of the development work the property has been personally examined by^ well-known London and other engineers, who compute the avail- able quantity of ore at upwards of ten million tons! The ore is on tpe slope of a high mountain, and the vast^quantity rises to an elevation of two thousand feet above the battery site it is thus obtainable for crush- ing without the usual expense of either sink- ing, hoisting or pumping. It is proposed to work with a battery stamps, and the quantity of ore is sufficient to keep this large number of stamps at work day and night for fifty to one hundred years A perpetual water power, a vertical fall of 400 feet upon the battery site, has been constructed, and belongs; to the property; this supplies sufficient power to drive all the machinery practically without cost. Many hundreds of tests prove te value of the ore on a working basis to be about £1. 12s. per ten throughout the entire mass, and- with the extraordinary facilities for working, the operating expenses are found to be well covered at 5s. 6d. per toq. Upon a very moderate basis as to promts—much lower than the above figures would indicate—the dividends on the shares aife estimated at a minimum of 30 per cent. per annum. This for a period of fifty to oGe hundred years constitutes Ah investment #hich is eagerly sought for, abd the shares ydll undoubtedly be largely mver-subscribed when issued. The directorip^f the .Company is an excep- tionally strolm'one.—{.Thu ^Lining Journal, London.] | •* n ip'

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