OUR MINES.

Inangahua Times, Volume II, 14 October 1881, Page 2

OUR MINES.

• # — ■ THE LYELL. (From the Lyell Times.) Thursday, October 6. United Aipine. The contract for driving this company's No. 6 tunnel 300 feet will be completed this week. The directors now invite tenders for extending it a further distance of 500 feet. The,coniract jast completed has been carried out in a very creditable manner, and it is to he hoped the com* pany will be as fortunate in getting the new contract completed equally as satis* faclorily. itfABUIA. I mentioned in a recent report that this far-Fumed property was about being incorporated under the Mining Companies Act. 1872. The new company will con» sist of 24,000 shares, 16 000 of which will be offered to the public, the owners of the lease taking the balance of 8000 shares. The lease includes the greater part of the old Break o'Day ground, and as both this and the Maruia have yielded a very large amount of gold, the proposal to form a company will no doubt be readily taken up by capitalist. I had intended to furnish this week figures showing the qnan^ tity of gold obtained from these two leases, and the amounts paid in dividends, but as I have not yet been able to obtain the complete figures, lam compelled to defer to a future report. The work of , floating the new company has been placed ! in the hands of Mr Patrick Brennan, sharebroker, Beefton. Pkospectors.Good headway is being made with the contract for erection of this party's battery. The. greater part of the ma« chinery is on the ground, and the timber for the house, race, &c, U nearly all ; cut ; and the work will be well on towards completion within another , month. i Ltell Cbeee' Extended. The directors met at the company's office, Eeefton, on Saturday last, and accepted the tender of M. Evan for driving 500 feet of tunnel, at 27s per foot. As soon as this distance is completed it is intended, I understand to let the remaining distance required, to complete the tunnel, in one contract. The work will be performed with the aid of boring rods, which will considerably facilitate its completion. The company have already ordered the necessary boring apparatus.