GOLDEN FLEECE EXTENDED QUARTZ MINING COMPANY, LIMITED.

Inangahua Times, Volume II, 22 July 1881, Page 2

GOLDEN FLEECE EXTENDED QUARTZ MINING COMPANY, LIMITED.

» Directors' Report : Presented at the Annual General Meeting, on July 11, 1881. In presenting the Balance-Sheet for the past year, your Directors have to re* port as follows :— The quantity of stone crushed, since last report, has been 5059 tons, yielding 45790z 2dwts of gold, which has enabled your Directors, during the year, to de» clare dividends aggregating £7200, or 3s per share, besides completing the progressive and other works mentioned in our last report, and the following additional ones : No, 4 Level has been further extended 280 feet ; No. 1 Inters mediate Level has been connected with No. 5 Level by winze, which leaves this portion of the Mine ready for stoping; No. 5 Level has been extended south of the Ajax main winze 130 feet, and north 251 feet, leaving a distance of 10 feet to reach the Fleece main winse, which it is anticipated will be completed within eight days, when vigorous prospecting will be pursued in order to find the Fleece lode, from which such grand results were obtained some three years back. A rise has been put up from No. 4 to No. 3 Levels, and the stoping has been confined between No. 1 Intermediate and No. 4 Levels, and between Nos. 4 and 3 Levels, as shown on the plan ; the present thickness of the lode is also shown thereon, and exhibits from 1 foot to 2 feet 6 inches of stone. On the surface, in addition to the Coel Incline Tramway, a Timber Incline Tramway has been constructed for a length of about 5 chains, and a capstan erected for the lifting of mining timber on the old Tim" ber Tramway. The Battery Shed and Engine House have been substantially repaired, and covered with new corrugated iron, and the Battery, Engines, and Gear are in firs t*cl ass order. For the financial position of the Cons* pany, your Directors have to refer you to the Balance Sheet, remarking, however, in this connection, that, against the debit balance to the Bank of New Zealand there shown, there is on hand at Reefton lOOozs 16dvrts of gold, representing a value of £389 6s 9J. For the Directors, F. HAMILTON, Chairman.