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5 <br />PROPERTIES UNDER BOND. <br />As announced in the Cirmilar iesued to ~5hareholders in April last, a <br />working option was secured on the Columbia Mine, current up to the 1st January, <br />1tJ04, and development work has been carried on since March last. The working <br />option bond on the Fraction Lodo between the Argentine and Red Clond <br />properties has been extended until the end of illarch next. <br />CONSTRUCTION WORK. <br />The erection of the new GO-stamp Nlill, with the relative bnildiag's, has <br />been energetically pushed forward, and Mr. Hrenox states that this work should <br />be virtually completed by the 1st prox. The cost of these works was estimated <br />at X150,000, and of this the snm of x,70,000 is included iu the present accounts. <br />The Directors have much pleasnro in agni^ expressing their ;tppreciatiou <br />of the manner in whioh the work at the Mine hats been carried out during the past <br />,year by Mr. I3nnnox and his staff. <br />In accordance with the Articles of Association, the M~it2ms D'IIaorrouL <br />retires froth the Board at this Meeting, and, being o]igiblo, offers himself for <br />re-eloc+tion. <br />Messrs. Dunorrrr, DLVPa, Gmrrrrns ~ Co., G`hartorod Accountants, of <br />1, I~othhnry, London, L.C., ol2or themselves for ro-election as the Company's <br />:\udi~ore. , <br />AR'1'II U11 13 U'1'LL+'lf, <br />Directors. <br />Mt1111~U1S D'I3r1U'1'POUL, <br />'1'. DUNllAt3 PLLLANB, b'ecretar~. <br />11, 1ionN111iL, Loxnox, P.C., <br />11th OctoLer, 1;103. <br />