INKERMAN COMPANY,

Inangahua Times, Volume VIII, Issue 1256, 9 April 1883, Page 2

INKERMAN COMPANY,

The half -yearly meeting of shareholders of the lukerman Quartz-mining Company (Limited) was held on the 30th inst. at the registered, office of the Company, when the report aud balance-sheet were read and adopted. ! The retiring directors were re-elected, Mr Evans, of Reefton, being selected to fill the vacancy caused by the retirement of Mr M Levy. In their report the directors stated : — " Your Directors have been in treaty with several firms' for the supply' and. erection of crushing plant, and after consideration of the various offers have decided to accept ths offer of Mr. Anderson, of Christchurch, to supply and erect a plant consisting of 30 head of 7c wt. stampers, 6 berdans, 6 percussion tables, copper plate and blanket tables, batteryhouse, engine, 'and two Cornish boilers, all complete, for the sum of L 451 4; the contractor to work the plant for one month before delivery, the Company to find labour during that month ; the Company to pay carriage from Greymouth to battery site — estimated to cost about L 8 per ton. The contract has been concluded on most exceptionally favorable terms —namely, L2OOO cash pro rata on the contract, and the balance in six months from the date of taking over the battery. The battery will be able of crushing at least 1200 tons per month, which quantity should be available regularly. The reef is proved without a break for the depth before given. It has been proved to be 20ft. thick in the only two places that the reef has been cross-cut upon. About 4000 tons were crushed some years ago from the upper portion of the reef, over No. 2 level, which gave an average return of s£dwt. to the ton from the poorest part of the reef. The quartz obtained in sinking from No. 2 to the No. 3 level showed better gold. None of this stone has yet been crushed The directors hope to be able, in the course of six months to have the mine and works in full and profitable operation."