I will now give a few particulars of some of the companies that are likely to attract first attention:

Bonsor

Capital, £220,000 in £l shares, all of which have been issued. It owns 72 claims, and has a length of reef of. some 6,000 feet. The central section has not yet been developed, but there seems little doubt that the quartz continues throughout this length. A part of the property will eventually be taken over by a new company. The average width of reef throughout the whole mine is 2i feet, and the mine has been opened to the third level. Above this level there is ore enough to last 50 stamps for seven years. The annual profit should average £40,000. Highest and lowest prices in 1900, 2 1/2 - 1 3/16; in 1901, 1 1/2 - 1.

Antenior

Capital, £120,000 in £1 shares, all of which have been issued. It owns an area of 95 claims. Up to the present the reef has proved to be somewhat irregular, and until it has been further developed its permanence appears to be doubtful. Highest and lowest prices in 1900, 2 1/16 - 1 5/16; 1901, If - 1. The average grade of the ore in 1899 was 16 dwt.; in 1900, 12 1/4 dwt.; and in 1901, 12 dwt.

Beatrice

Capital, £200,000 in £1 shares, of which 180,000 have been issued. It owns 58 claims. This company has only recently commenced to crush, but its gold-yield has up to the present been higher than that of any other Rhodesian mine, viz., 19 dwt. Highest and lowest prices in 1900, 2 1/8 - 1; in 1901, 1 1/2 - 15/16.

Dunraven

Capital, £200,000 in £1 shares, of which 180,000 have been issued. This company owns 75 claims. It does not look as if this mine will be a great producer, unless a great change for the better takes place at depth. The reefs at present being worked are of considerable width, but erratic in value, and until the mine has been proved in depth it should be regarded as a speculative venture. Highest and lowest in 1900, 1 9/16 - 7/8; in 1901, 1 5/16 - 15/16.

Eagle-Vulture

Capital, £200,000 in £1 shares, of which 150,000 have been issued. It has 42 claims. This company commenced to crush at the beginning of the year, and its monthly returns have been irregular. The average value of the ore has been 14 dwt. Highest and, lowest in 1900, 3 1/8 - 1 3/4; in 1901, 2 5/8 - 1 7/8.

Geelong

Capital, £250,000 in £1 shares, of which 200,000 have been issued. The company owns 110 claims. This mine has proved very disappointing, the yield having fallen from an average of 10 dwt. in 1899 to 5 dwt. in 1900 and 1901. It is estimated that there are considerably over 300,000 tons of ore in sight, but crushing is suspended in order to prosecute the development of the mine. In spite of its disappointments, the mine appears to be a very promising one, and capable of earning large profits. Highest and lowest in 1900, 3 7/8 - 1 1/2; in 1901, 2 - 1 7/8.

Globe And Phoenix

Capital, £200,000 in £1 shares, of which 187,500 have been issued. It owns 79 claims. This mine has been a high and consistent producer, the average yield per ton throughout 1900 and up to the present having been 16 dwt. Should its present value continue in depth, this will be one of the premier mines in Rhodesia. There are two series of reefs lying at right angles to each other, and 500 yards apart. In each series there are two reefs, but only one in each series has as yet been worked. Highest and lowest in 1900, 6 1/4 - 4; in 1901, 5 3/4 - 4 13/16.

Lomagunda Development

Capital, £200,000 in £l shares, of which 188,075 have been issued. It owns 330 claims. The yield from this mine has been on an average 10 dwt. to the ton. It should have a great future before it. Highest and lowest in 1900, 3 9/16 - 5/8; in 1901, 3 1/2 - 1 7/8.

Rezende

Capital, £175,000 in £1 shares, of which 156,507 have been issued. Owns 60 claims. This has so far turned out to be a high-grade mine; the average yield per ton for 1899, 1 oz.; for 1900, 16 1/2 dwt.; and for the present year, 13 1/4 dwt.

Selukwe

Capital, £350,000 in £l shares, all of which have been issued. Ever since crushing commenced this mine has been a regular producer, though the yield has been falling off, the average for 1899 being 13 1/2 dwt.; for 1900, 12 1/2 dwt.; and for the present year, 11 dwt. This is undoubtedly one of the most promising of the Rhodesian mines so far opened up, and should be one of the first to attract the investor and speculator. As the reefs appear to be holding out in depth, large profits should eventually be earned, and the mine should also have a long life. Highest and lowest in 1900, 3 1/16 - 2 1/16; in 1901, 2 5/8 - 1 3/4. The company owns 120 claims.

West Nicholson

Capital, £300,000 in £1 shares, of which 210,000 have been issued. Owns 112 claims. From all accounts this mine is destined to be one of the best in Rhodesia. The payable ore has been proved 1,000 feet long, and at the 130 feet level the lode is 35 feet thick, and worth an average of 16 dwt. Highest and lowest in 1900, 6 1/4 - 3 1/4; in 1901, 4 1/8 - 2 1/4.

The following table gives a list of other shares that will be certain to be bought as soon as the first signs of activity set in:

Name of Company.

Capital.

Amount of Share.

Claims.

£

£

Anglo-French Matabele .....

110,000

1

358,333

Bechuanaland Exploration...

400,000

1

95

British South Africa ....

5,000,000

1

-

Buluwayo Syndicate .

200,000

1

421,060

Charterland Gold-fields

500,000

1

1,994

Chicago-Gaika ....

250,000

1

437

Clark's Consolidated .....

350,000

1

2,778

Colenbrander ....

350,000

1

1,690

Confidence Reef

120,000

1

55

Consolidated Belingwe....

200,000

1

901

Consolidated Exploration .

300,000

1

1,398

Crescens Matabele....

100,000

1

1,670

Exploring Land and Minerals .

500,000

1

601,500

Forbes Rhodesia....

30,000

1

50

Gold-fields of Matabeleland...

500,000

1

1,375

Mashonaland Agency....

400,000

1

2,907

Matabele Gold Reefs.....

500,000

1

1,028

Matabele Mines...

250,000

1

817

Matabele Sheba....

100,000

1

97

Morven.....

200,000

1

114

Nelly and Pioneer....

100,000

1

260

Rhodesia.....

600,000

1

1,667

Rhodesia Exploring .

150,000

1

1,483

Rhodesia Gold Fields

500,000

1

-

Rhodesia Gold Trust.

1,000,000

1

2,157

Rhodesia Mining and Finance .

500,000

1

1,672

Rice Hamilton ....

40,000

1

700

Salisbury Reef ....

350,000

1

120

Tati Concessions

500,000

1

2,000m.

United Excelsior

250,000

1

900

United Rhodesia

750,000

1

1,870

V. V. Gwanda ....

150,000

1

305

White's Consolidated

500,000

1

725

Willoughby Consolidated .

1,000,000

1

4,431

Zambesia Exploring .

200,000

1

63,000