. mining and engineering journal. ase is about £1,200,000, as in the previous call for tenders,of which it is considered that at least t650,000 will be re-quired for shaft sinking and preliminary development, whilea further sum of about £550,000 will be necessary to bringthe property to the full producing stage. The i)oint whichcalls for special remark in comparing the terms of this leasewith that of tlie Government Gold Mining Areas (Modder-fontein) Consolidated, Limited, is the stipulation with re-gard to the minimum royalty to be paid to the lessor, apartfrom such additional royalty as
. mining and engineering journal. ase is about £1,200,000, as in the previous call for tenders,of which it is considered that at least t650,000 will be re-quired for shaft sinking and preliminary development, whilea further sum of about £550,000 will be necessary to bringthe property to the full producing stage. The i)oint whichcalls for special remark in comparing the terms of this leasewith that of tlie Government Gold Mining Areas (Modder-fontein) Consolidated, Limited, is the stipulation with re-gard to the minimum royalty to be paid to the lessor, apartfrom such additional royalty as may be offered by the suc-cessful tenderer. A detailed schedule, covering almost everyunit rise in the percentage ratio of profit to recovery, hasbeen prepared, and from ths it will be .seen that the some-what simple basis of calculation which was laid down in theease of J\Iodderfontein has been modified to some extent inthe present instance. The old rate of advance is main-tained up to the stage where the profit amounts ti; 30 per. cent, of the value recovered, that is to say that uji to th;;ipoint the mininunn royalty bears the same ratio to the netprofit as the latter bears to the value of the precious metalsproduced. Thenceforward, however, the Government sliare of tiicprofits increases at a sensibly lower rate than in the previouslease, aud uo longer bears the same ratio to ijrofit as before. When the latter is e(iual to -10 per cent, (jf the recovery, forinstance, the Government share is 3750 per cent, of theprofit, and when tlie latter amounts to 50 per cent, of tlieproduct the share is 42 per cent.; a clear gain of 8per cent, on tlie earlier scheme. The progression of theroyalty does not end at the .jO per cent, profit stage, how-ever, but continues as far as the 60 per cent, level, at whichpoint the ratio between the share of the lessor and thelessee is as 45 to 55. The ratio from tliis point onwardsremains the same. An examination of the scheduled figureswill show
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Keywords: ., bo, bookcentury1800, bookdecade1890, booksubjectmineralindustries
