Now, with regard to the mines themselves, I have often said before, that I have sessea a valuable property. In the no doubt whatever that the company pos-
Imuris Mine alone there is ore visible which only requires stoping to provide employment for the next two or three years, Tain well aware that estimates cannot generally be relied upon, but it is the unanimous opinion of those authorities who have visited the rty that the ore upon the dumps and ready to be taken cutis of the value of from 350,000. to 400,0001., and I must say thoroughly ' belie of which develope fire great promise, although' not to the same extent, and there is, therefure, every reason, I think, for taking a highly favourable view of the company's position and prospects. Before asking you to pose the report and accounts, I invite, and shall be pleased to answer, any question you may have to put to me to the best of my ability. (Cheers)
Rev. 0. E. Few—Can you tell me, Mr. Chairman, if you have any large samples of the ore in bulk that gives you any idea of the estimated value of the ore?
The Chairman—I may say that 10 tons have been sent over within the last three of four months, and that ore has realised £32 per ton; another quantity was being sent over, but, as you know, what has prevented us from hi large supp! was the expense whi caused by the absence or rather the non-completion of the railway to your property. All the materials are out there for the railway, and, indeed, the line is completed to the extent of lies now, and traffic is running over i The line has been altered frou its original direction by the making of a tunnel through the Sheba, which will effect a saving in distance of about 4,000 yds., and in money of several thousand dollars.
A Shareholder—Will it be the intention. of the company to work these concessions themselves, or dispose of them to subsidiary compan The Chairman—As Iatated in my speech, we have 15 years granted to work out these claims, and I know of two or three good mines already in the zone that we have control over, and I think it advisable that it should be left to the discretion of the directors whether they shall work these properties themselves, or arrange with subsidiary companies for the treatment of the ores.
The resolution was then put to the meeting, and unanimously carried.
The appointment of Messrs. Cooper Bros, and Ca. as auditors of the company for the ensuing year having been approved by the meeting,
Text read from the printed page and cleaned; old type leaves the occasional error.