NIGERIA TIN CORPORATION, Ltd.

Capital.—£100,000 in 100,000 shares of £1 each; 34,782 issued; a further 25,000 are under option at 25s. per share until December 31, 1910.

Directors.—Oliver Wethered (Chairman), H. C. Godfray, R. J. Hoffmann, H. J. Moir, C. V. Thomas.

Secretary.—George Kerr, A.C.I.S.

Offices.—Capel House, 54 New Broad Street, E.C.

This company owns four areas aggregating 14 square miles in Nigeria, and in addition to these has large holdings of shares in the leading companies operating in this field, including:

Another of the company’s assets to which considerable importance is attached is the interest in the Juga (Nigeria) Tin and Power Company, whose property comprises what is known as the Juga area, situated on a plateau 3,280 feet above sea-level, amounting to 1,600 acres, and the Sub-Juga area which, as its name implies, is situated upon the lower plateau immediately below Juga, amounting to 6,720 acres. A further property, known as the South Juga, has also been acquired. From August 15 to September 10 the quantity of crude tin produced by the Juga Company was 12,339 lbs., but Mr. C. G. Lush, the consulting engineer, states that, as in the case of the Naraguta property, the bed of the river, in which the richest deposits of tin are contained, is exposed for calabashing in the dry season, which is now beginning, so that a much larger output of tin may be confidently expected in the near future. New plant is now being supplied capable of dressing twelve tons of tin oxide per day.

The Anglo-Continental Mines Company is largely interested in what are undoubtedly the best gold mines in the Tarkwa and Prestea, districts of West Africa, but it has also a substantial slice of the Nigerian “cake.” It has already had one profitable “deal” in the successful flotation of the Northern Nigeria (Bauchi) Tin Mines, Ltd.—a company holding prospecting licences over a compact block of 50 square miles in the Bauchi Province, and mining licences over three blocks of about 12½ acres each. Portions of the property have been worked sufficiently by the Niger Company to prove their exceptional value as tin-bearing areas. Mr. C. G. Lush, reporting in February last, stated: “From surface pannings I should estimate the over-burden, or rather stanniferous gravelly deposit overlying the wash, to go 2 lbs. per cubic yard.... Provided sufficient power is obtained, there is room here for at least four big plants capable of treating 10,000 cubic yards of gravel each per week. 40,000 yards at 2 lbs. equals 80,000 lbs. of tin oxide, equal to 35 tons per week, which, at £80, means £2,800; less cost of treatment at 6d. per yard £1,000, carriage on 35 tons of tin (at £15) £525, Government royalty at 10 per cent. £127, leaving a net weekly profit of £1,148.” The Anglo-Continental Mines Company has a large interest in this company, and is looking for big dividends therefrom in the not very distant future. But this is not by any means the full extent of its interest in Northern Nigeria, for it has acquired an adjoining area of 50 square miles, which are stated to afford equally satisfactory prospects.

Apart from the indirect interest the Nigerian Tin Corporation has in the Northern Nigeria (Bauchi) Tin Mines, through the Anglo-Continental Mines Company already referred to, it has a large holding on its own account.