The Sun.
London, England, 1854-01-05 00:00:00

DIRECTORS.

Edward Bates, Esq., Boundary-road, St. John's-wood.
James Burt, Esq., Briar-house, Stoke Newington.
S. A. Dickson, Esq., Grafton-street, Berkeley-square.
J. S. Orton, Esq., Upper Hamilton-terrace. St. John's-wood.
T. W. Wilkinson, Esq., 26, Gresham-street, London.
Jno. Williams, Esq., Middleton-peace, Stoke Newington-road
Robt. Campbell, Esq., Jermyn-street, St. James's.
Thos. Gibbs, t.sq., 36, Tavistock-place, Russell-square.
With power to add to their number.
BANKERS—Commercial Bank of London, Lothbury.
SOLICITORS—Messrs. Harrison, 5, Walbrook.

RrocKshoitEs a--Messrs. Thos. Gibbes and Son, 19, Throgmorton-

street.
AranToa—Thos. Gervas Robinson, Esq., 8, Basinghall-street.
PUBSRE AND MANAGING DIRECTOR— T. W. Wilkinson, Esq.
Offices-26, Gresham•street, London.
This Company is formed for the purpose of effectually working
and developing the Esgair hir and Esgair faith Lead and Copper
Mines, commonly known as the "Welsh Potosi," situated midway
between Aberystwith and Machynlleth, Cardiganshire, at a distance
of 9 miles from the shipping- port of Aberdovey, at which vesseis of
310 tons burthen can load alongside, and to which there is a good
road made a few years since, at a cost of at least 1,000/., enabling the
Company to convey the ores to the port at a moderate cost.
The sett is very extensive, and Includes between 1,400 and 1,500
acres of mineral property.
The lodes, wkich are champ'onS, are of very large dimensions, ex-
tending upwards of one mile in length.
The property is held for a term of years, under a lease granter
by Pryse Loveden, Esq., at a royalty of 1-14th, with a covenant for
renewal for a further term of 21 years at the same royalty.
These mines are some of the oldest on record, and have been par-
tially worked at various periods, but never properly developed to
any depth.
Some idea may be formed of their value by a reference to a work
published in the year 1698, by W. Waller, Esq., the then steward of
these mines, wherein it is stated " that the Great Lead Vein is 11
feet wide, and 71,4 feet in pure ore, and which he had no doubt would
increase to 11 feet in ore as it descends—that 40,0001. was refused
for one moiety ;" and with a sufficient capital he would be able to
bring in a clear profit from one of the veins of 70,0001. a-year. Ex-
tracts from this work may be obtained at the Company's offices.
There are two powerful water wheels, with extensive machinery
for draining the mines, raising and crushing the ores ; also houses or
barracks for about 200 miners, with counting-house, smith's shop,
powder, fuel, and storehouses, and cottages for engine-men have
been erected upon the property at a considerable outlay, and fit for
immediate use.
Five large reservoirs have been constructed at a convenient dis-
tance for working the machinery and dressing the ores, thus ena-
bling the Company at once to carry on extensive mining operations.
The cost of sinking the shafts, driving the levels, forming reservoirs,
constructing roads, erecting the buildings and extensive machinery.
is estimated at having amounted to not less than 50,0001., the full
and immediate benefit of which has been secured for the Company.
The Directors have visited and inspected the Mines, and had the
same carefully examined and surveyed by engineers and practical
miners of considerable experience.
Samples of ore have been assayed by Messrs. Johnson and Sons,
and produced
Of Lead .. • ... 80 per cent.
Of Copper . • .. 16.65 per cent. of pure copper.
Each sample shows a trace of gold.
Advantageous arrangements have been made fer the purchase of
the whole of this valuable property ; five-sixths of the purchase
money will be received in paid-up shares of the Company, and the
remainder in cash.
It has been determined to establish this Company with so large a
capital from the peculiar nature of these mines.
The Directors propose, however, in the first instance, to issue
5,000 shares only to the public ; but should further capital be found
necessary for the development of the mines, the Shareholders will
have the preference in the issue of the shares.
Operations have been commenced, and It is expected very shortly
that the engine shafts will be pumped free from water and a con-
siderable quantity of ore raised.
Full information, prospectuses, and plans of the mine, with copies
of the reports thereon, may be obtained, specimens of the ore in-
spected, and orders for leave to view the mines furnished, upon
application to T. W. Wilkinson, Esq., the Managing Director, at the
Company, 26, Gresham-street, London.
Applications for shares to be made to Messrs. Thos. Gibbes and
Son, steckbrokera, 19, Throgmortonsstreet ; to Messrs. Harrison,
solicitors, 5, Walbrook ; or Mr. T. W. Wilkinson, at the offices of
the Company.