Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 11 June 1880, Page 3

FBdsFECTU^ dfe 1 THE INArGAHUA|LOsV LKV^TUNNKL GOLD MINING COMPANY, LIMIT KD, REEFfON. CAPITAL L ... • ... £12000 In 2400Q Shares of 10s. Ea sh. To be Eeoistebed itndeh the Pitf visions of " Thb/Minikg Companies' Acts, 1872." / Calls limited! to One Penny per Month, uith a deposit of Two Pence per Share on Application. PROVISIONAL DIRECTORS. KOBEBT OXBEY PATRICK BpNNAN .)OHK TSENFEOT GeOEGB Wisfi William wabdnbe Chablbs Fbaseb James Conkolly K. W. Gullinb P. Q. Caples Mathbw Pyene Fbakk HaLilton Joseph Kjlgoub I Bankebs : 1 BANH OF NEW ZEALAND. j I SoMClTOB! ! JIMES LYNCH, E*q. | f Secbetaby: HEfTBY GEO. HANE:iN. OBJEOTS OF THE COMPANY. In submitting the proposed undertaking for the atproral of the general' public, and mere especially the inhabl'ants of the district, wnoee interests mwi necessarily be directly benefited by the impulse given to a further daUlopment of the hidden wealth of the field, lnd as a sequence the increased circulation of capital locally, the projectors have every confidence in its 'successful issue which in the first place may be attributed in a/rerj {large degree to the widely expressed opinions pf a variety of experts— first among whom m|y be mentioned the name of Dr. Hector, lovernment Minerologist, &c who says, tha •' the construction of such a tunnel e*nnot ft \ to intersect nut»erou» golden nnd other va table metallic lodes ; the local mm» erologici products of the neighbourhood fully jut ifying the assumption of iheir exgtence ii well-defined strataat a depth obtainable >y the proposed schenie." Secondly: By the ftnmeasurably superior advantages of profitably working many line 3o f reef now in abeyance by jeason of the exceptionallT high rates attending the production of otherwise payable stone by companies of limited capital ; thirdly— from the fact of the Government recognising "at the instance and recommendation of their Engineers*' the importance and value of the work, as a means to a great public good, by guaranteeing a subsidy of £ for £ of 'Capital subscribed by the publicfacts that may be generally accepted as sttong elements in support of the bona fides, and' decided ultimate success" of the venture, in addition to whicjtt a further and liberal cons cession has been made in granting the company right to 600 feet in width on either side of the entire length of the proposed tunnel outside of vested interests, and as nine distinct and separate lines of gold»bearing reef traverse the company's claim at & right angle, or there* abouts, apart from any v others not visible, whioh by reasonable inference may be met with, it may be fairly characterized as a bighly promising speculation. A still further addition to the anticipated profits is represented by a tariff on haulage for other com» panics ? estimated at, cay, 10 per cent over working expenses. - . There is a distance of three-quarters of a mile of unoccupied land from the starting poiijt, through which several of the known lines of reef traverse. Th» company propose to drive tftuhnel from the right to Jhe left band branch of the In-a-ngfthuft jlyer, a through distance of some t#<? and a-half miles, and thereby intersecting a perfect netov rk of gold-bearing" reefs j a number of which have been partially worked on the surface 0 I'y, but' with payable results, whioh, on thn extension of the pros posed tunnel wou d be at once turned to profitable accoun , as many of them would be tapped at dept is ranging from 1500 feet downwards from he outcrops, ensuring an unlimited supply < f gold-bearing stone, which by a thus reduced cost of production cannot, in the opinion 0 the projectors, fail to leave a very handi ome margin of profit « The Golden Fit ace Extended Gold Mining Company, who >c lease is on the proposed line, are at presen t raisin*; Btone from the low level, 700 feet below $c outcrop, giving the handsome ret trn of two ounces to the ton, which is the est yet obtained from the mine, and may be accepted as indicative oi the accuracy of very prevalent opinion " that the riohnes t of our quartz lodes increases with their lepth." The maximum >f Calls will be One Penny per share per mo ith, thiu, affording an opportunity to all ( lasses of participating in the venture by th 1 limitation of liability to a minimum. A n'fteen-head itamper JKtery is erected immediately con iguous to the tunnel's mouth, available lor crushing any stone obtained. * As a mining sp< suiation, it presents direct and prospective advantages seldom met with in kindred v< utures, as illustrated by the combination refen :d tvj and still further by recent statistics f rnished to the New Zea» land Government, showing tha* 108,1880z9. of gold, the yield 1 156,862 tons, representing an average oi 13 dwts 19 grs., or nearly 14 dwts per ton avo been obtained by the various company's that have been, and are at work on the lines >f reef to be inteqeected. Taking the ytooney value per ton £& 12s Bd, a clear profit of £1 ss, per ton can be secured, allow ng tli« cost of production to be divided thus— crusHing : by wa er power, 6s. per ton ; cost of xaiaing etoDe, 10s 6d, per ton ; wear, tear, management, and contingencies, 12s fid. Total £1 7« Bd, leaving a balance of £1 Ss to be [divided as profit. In conclusion, the projectors with every confidence assert that • more genuine mining venture, and one possessing the same elements to achieve succoss has Beldom t if ever ; been put on the mark*. PROSPECTUS 4ND FORMS OI APPLICATIONS FOR BEARE& TO BE OBTAINED FROM TMI UNDERSIGNED. HENRY GEa HANKIN, Secretary. CHARLES H. iSDWARjJii STOKE KEE PER J £ . Blacl's Point. GOODS PACKED TO ALL PARTS OF THE DIRICr,