That old gold-producer, the New Moana tairi, has passed into the hands of British capitalists, who have certainly secured a valuable property. Great hopes are enter tained regarding the future success of the mine now that the requisite capital will be available for the systematic development of the property upon a large scale. During the year a good deal of prospecting work has been accomplished. Operations have boon mainly directed to the ioOft level below the main tunnel level, where work was especially prosecuted with vigor upon the No. 2 or Caledonian reef in the Golden Calf section of the company's property. Considerable diffi culty was experienced in opening up the reef on account of the old works performed in this section by the original company many years ago, but a start has now been made to develop a large block of what should prove payable ore on the No. 2 reef, the extent of which will not be known until a further stretch is opened up. Considerable attention has also been given to the extension of levels on the Golden Age reef testing the 'jcountry immediately abutting on the lode. A large amount of gold has been won from the small leader on the footwall of the Golden Age and also the No. 2 Dawn of Hope leader. Latterly they have not been so productive, but during the coming year it is anticipated that further ex tensive operations Avill be .proceeded with. During the year the mine_produce&.246oGZH "dwts of gold, valued at £6600 15s Id.
