A company or syndicate was formed in February, 1859, for the purpose of establishing a new pastoral settlement in North Australia. The project was conceived in consequence of the reports of explorers who had passed through much of the country to be operated on. These reports were from the journals of Sir Thomas Mitchell, Dr. Leichhardt, A. C. Gregory, the Rev. W. B. Clarke, and others. The prospectus was of a most ambitious and comprehensive nature, and it showed an intention to overcome, or make light of, all obstacles, and to march straight on to glory and wealth, as well as to start a young nation on its prosperous career. The area of the proposed new settlement was comprised within the 22nd parallel of S. latitude, the 137th degree of east longitude on the west, and on the north and east by the ocean, practically including what is now known as North Queensland. The report of the Rev. W. B. Clarke, which was favourable to the probability of auriferous country being discovered, and of rich deposits of gold being met with on the northern rivers, was a great factor in promoting the project of founding a settlement which was to establish a thriving and industrious European and Oriental mercantile and planting community. The immediate design was to commence a detailed exploration of the country reported on by Dr. Leichhardt. The prospectus dwelt on the advantages of thoroughly exploring the rivers and country and making known the capabilities of the soil and climate to the capitalists of Australia as a field for investment. The programme mapped out was:--To proceed from Rockhampton direct to Leichhardt's camp in the bed of the Burdekin River at Mount McConnel. To trace the Burdekin down to the sea in canoes, taking soundings to establish its navigable capabilities; to fix its mouth and its qualifications as a seaport. To fix the probable head of navigation, and a favourable site for a goods depôt there. To return to Mount McConnel; thence to explore the lower Suttor, lower Cape, and Burdekin Valley as far as the Valley of Lagoons, ascending the river by its western, and returning by its eastern bank; to fix the most favourable position as near as possible to water carriage for the first establishment of pastoral stations, and to trace the most accessible route from the latter to the former. To return to the settled districts by a different route, viz.: to trace up the Cape or Belyando River to its head in latitude 24 degrees, to cross the great watershed, and to drop down upon the Maranoa, which was to be followed to about latitude 26 degrees, where the course was to be left and a route made down the River Culgoa, arriving in the settled districts by the lower Condamine.