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PROSPECTUS CV 188 INAFGAHUA LCjvV LEVEL TUNNEL GOLD MISIiNG COMPANY, LIMITED, REEFTON. CAPITAL ,„ £12,000 In 24000 Shares of 10s. Eash. To BE ReGISTIBED UN )BB THE Pflr VPIONS of " Thb Minis Companies' Acts, 1872." Calls limited to One Penny per Month, with a deposit of Twt Peneeper Share on Apph nation. PROVISIONAL DIRECTORS. ROBEET OxiEY P LTRICK BeENNAK •TOHN TBENNEKY C BOBGE WIBE William Gaedneb C bablbs Fraseb James Connolly R E. Gulline P. Q. Caples Mathew Pyenb Feank Hamilton Joseph JKlilgoub Ifj A Iff If lilfg • BANK OF NEW ZEALAND. DOLICIToe ; JAMES LY|CH, Esq. HENEY GE(J^ HaNKIN. OBJECTS OF THE COMPANY. In submitting the proposed undertaking for the approval of thp general public, and more especially the j inhabitants of the district, whose interest* must necessarily be directly benefited by t* impulse given to a further development of jthe hidden wealth of the field, and as a s*uence the increased circulation of capital toeally, the projectors ; have every confidence jo its successful issue —•which in the first; plfse may be attributed in a verj large degree t| the widely expressed opinions of a variety of experts— first among whom may be mentio|ed the name of Dr. Hector, Government Minerologist, &c. who aays, that' 1 the construction of such a tunnel c*nnot fart to intersect [numerous golden and other valuable metallic lodes ; the local mm* erological products oft tbe neighbourhood fully justifying the aast mption of their exstence in weU-defined Itrata at a depth obtainable by the proposedlscheme." Secondly :. By the immeasurably s iperior advantages of profitably wJirkiDg man r lines of reef now in abeyance of t le exceptionally high rates amending the pr< luotion of otherwise payable stone by compan esof limited capital ; thirdly— from tbe fact of the Government \ recognising "at the it jtance and reeom* mendation of their Engii sers " the importance and value of tbe work, al a means to a great <.public good, by guaranteeing a subsidy of £ for £ of capital subscribed by the public— facts that may be generally accepted as stiong elements in support of the bona jideti and decided ultimate sucoetk ot the venture, in addition to which a furlier and liberal coni cession has been made in granting tbe company right to 600 feet in widthlon either side of the entire length of the propoked tunnel outside of rested interests, and aal nine distinct and separate lines of gold*b«aring reef traverse the company's claim at a.iight angle, or thereabouts, apart from any! others not visible, which by reasonable inference may bo met with, it- may be fairly Jharaoterized as a highly promising speculation. A still further addition to the anticipatediprofits is represented by a tariff on haulare for other corn* panics, estimated at, eayMlO per cent over working expenses. I , There is a distance of three-quarters of a mile of unoccupied land from the starting point, through which several of the known lines of reef traverse. 1 Th« company propose to ctiive a tunnel from the right to the left hand branch of the Xnangahua river, a through, distance of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reefs j a number of which ha»e been partially worked on the surface only, but with payable results, which, on the extension of toe pros posed tunnel would be. at once turned to profitable account, as many of them would be tapped at depths ranging from 1500 feet downwards from the outcrops, ensuring an unlimited supply of gold -bearing stone, which by a thus reduced cost of production cannot, in the opinion of the projectors, fail to leave a very handsome margin of profit. The Golden Fleece Extended Gold Mining Company, whose lease is on the proposed line, are at present raising stone from the lor level, 700 feet below the outcrop, giving the handsome return of two ounces to the ton, which is the best yet obtained from the mine, and may be accepted as indicative ol the accuracy of a very prevalent opinion " that the richness of our qutrtz lodes increases with their depth." I The maximum of Calls will be One Fenny per share per month, thus affording an opportunity to all classes of participating in the venture by the limitation of liability to a minimum. / A Hfteen-head stamper mattery is erected ittfmediately contiguous tt> the tunnel's mouth, available for oruihing any stone obtained. / As a mining opeculalion.lit pnfe-ents direct and prospective advantages /seldom met with in kindred ventures, at illustrated by the combination referred to, aid mill further by recent statistics furmsbec| to /the New Zea» land Government, showing tuat. 108,188ozs. of gold, the yield of 136,862 tins, representing an average of 13 dwts. 19 grs., or nearly 14 dwts. per ton have been jobtained by the various company's that have/been, and are at work on the lines of reef proposed to be intersected. Taking the aonfey value per ton £2 12s Bd, a clear profit of fIL ss. per ton can be secured, allowing the cosnof production to be divided thus— crushing fey wa er power, ss. per ton ; coet of raisinc stone, 10s 6d, per ton } wear, tear, management, and contingencies, 12s 6d. Total, *l[7» Bd, leaving a balance of £1 5s to be divided as profit. In conclusion, the projeators with every confidence assert that a mo* genuine mining venture, and one possessing the same elements to achieve success hfs seldom, if ever, been put on the market. I PROSPECTUS ANd\ FORMS OF APPLICATIONS FOR SHARES 10 BE OBTAINED} FROM TEE UNDERSIGNED. I HENRY GEO. HANKIN, Secretary. OHAKLES H. EDWARDS, STOEEKEE PER Black's Point aOoDS PACKED TO ALL PARTS OF THE DIKICT.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/IT18800528.2.13.2

Bibliographic details
Ngā taipitopito pukapuka

Inangahua Times, Volume II, Issue II, 28 May 1880, Page 3

Word count
Tapeke kupu
942

Page 3 Advertisements Column 2 Inangahua Times, Volume II, Issue II, 28 May 1880, Page 3

Page 3 Advertisements Column 2 Inangahua Times, Volume II, Issue II, 28 May 1880, Page 3

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