Buninyong Gold Mining Co.

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Contents

History

THIS DAY.
SALE BY AUCTION
OF A
FULL FORTIETH SHARE
IN THE
BUNINYONG GOLD MINING COMPANY
.
The property of which comprises a domain of 1,140 acres
OF PURCHASED LAND,
With Three Mining Shafts in full operation, worked each by a powerful Steam Engine, pumps, puddling machines, &c., &c., and from which ponderous lumps of gold are being exhumed.
JAMES ODDIE & CO. have received instructions to sell by auction at their rooms, Dana street, on Saturday, the 1st June, at one o’clock,
A Full One Fortieth Sahre in the Buninyong Gold Mining Company.
The property of this company is situated at the boundary of the township of Buninyong, distant from Ballarat eight miles, and comprises a
Purchased Estate of eleven hundred and forty acres,
Which form a portion of the valley through which flows the River Leigh, and which bears unmistakable geological indications of having been the bed of an ancient river or arm of the sea into which the waters of the auriferous district of Ballarat probably found an outlet, and to which its prolific deep leads are trending.
At the period immediately preceding the purchase of the property the Buninyong Company existed as a small co proprietary, and was in occupation of a portion of the land for a period of twelve months, and had worked with great success, having taken out during that time gold amounting to the value of £75,000. The property being for sale for the sum of £20,000, it was resolved to re-organise the company, constitute a proprietary of forty shares of £750 each, and purchase the estate. This was done at once, and so successful has the enterprise been that the major part of the purchase money has been paid out of the auriferous yield of the estate, while monthly dividends at from
£20 to £120 per Month
have been paid during the principal part of the interval since the purchase, which is nearly two years. In addition to the yield of gold, the estate is leased for agricultural and grazing purposes at a rental of £800 per annum. The current value of the share may be inferred from the fact that the last monthly dividend, paid at the close of April, amounted to £55, three hundred and eighty pounds having been carried to the reserve fund previously; and from the following, which is copied from the “News and Notes” column of the Ballarat Star of the 29th of April, 1861:-
”The Buninyong Company broke into washdirt in their Durham shaft on Friday, at a distance of 64 feet from the shaft. This company obtained 861 oz. of gold last month, and 135 oz. last week. Shares (40ths in the company) are now quoted at £1500.”
This is one of the most successful gold mining enterprises to be found in Victoria.[1]
BUNINYONG GOLD MINING COMPANY.-TENDERS received by the above company to 24th instant, at noon, for Driving a Level in Reef 150 feet. For specifications, &c., apply on the claim.
ALEXANDER DEWAR, Manager.[2]

Site

Buninyong Gold Mining Co. operated on land originally settled by the Learmonth brothers.[3]


In 1865 the company advertised a tender for the building of a 60 foot high brick chimney stack at the No.6 shaft.[4]


See also

Gold mines

Gold mining companies


Notes


References

  1. The Star (Ballarat, Vic. : 1855 – 1864) Saturday 1 June 1861, page 3. Digital copy accessed via Trove.
  2. The Star (Ballarat, Vic. : 1855 - 1864), Monday 20 April 1863, page 3. Digital copy accessed via Trove.
  3. http://freepages.genealogy.rootsweb.ancestry.com/~carrick/Ballarat%20a%20to%20b.html accessed 15 March 2013.
  4. The Star (Ballarat, Vic. : 1865 - 1870), 24 July 1865, page 4. Digital copy accessed via Trove.


Further Reading

External Links


--Beth Kicinski 19:42, 29 December 2012 (EST)

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