Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 26 July 1880, Page 3

PROSPECTUS OF THE ".. ■ Inafgahua dw LrcOT-i tvn t - NKL GOLD MINING- CO.U-i PANY, LIMIT! :n, REKFiON. CAPITAL ..,~~ 200 ° In 24000 Share' of 10i. En*. Tib be Register beu the Pa* Trews* or " Tiu* Misii-: 3 Compasiw Acxs, 1872." Calls limited to One Penvy per Month, Kith a deposit of Tim Pence per bhare on Apphw.fi-on PROVISIONAL DIRECTORS. ' KOBEPTOXT.EY J -ITRTCK BRENNAN John Treknei-t C eoisgb Vl kb WItUAM GAKDSBH ( HARIB9 Fe^-SEP. , James Connolw t; K - Gut fi H " 1 P.Q.Capleh Nathewl-™ Fealk Hamiwok Joseph K-lgouji Bank ibs • T ,„„ ' i . BANK OFKiS'V ZEAL\ND. SOT.X tTOE : JAME^LY^CI-i.EQ. HENEY GEC. KAxN'KIN. OBJECTS OFT IE COMPANY. ; In submitting fhe >ropo*od undertaking for the approval of life pener.d public, and more especially the iuhnbitants of the district, whosa intereßtl must necessarily be directly benefited by tie impulse given to a furtheWeveldpment oi tbe hidden wealth o. the field, and as a pfquenco the increased circulation of capitallloeal y, the projectors have every confidence! in its successful issue —which in the first place may be attributed in a verj large degree jto the widely expressed opinions of a variety bf experts— first among whom may be mentfcned the namo of Dr. Hector, Government IMinerologist, &c. who says, that " tbe constrl *tion of suoh a tunnel cannot fai\ to interseit numerou- golden nnd otber valuable metal* iodts ,• the local minerological produoto bf the neighbourhood fully justifying the Asumption of ihtir exstence in well-definijd strata at a depth obtainable by tbe propo ed scheme." Secondly : By the immeapurabl ' superior advantages of profitably working t iany line? ot* reef now in abeyance by teuson i f the exceplionallv high rates attending the jroduction of otherwise payable stone by com laniesot limited capital ; thirdly— from the i ict of tbe Government reco»nifcing "at tht instance ond recom*mendation of tbeir E iginecvs" the importance and value of the woi f, as a means to a great publio good, by guar; nteeing a subsidy ol £ for S, of capital sub cribed by the publicfacts that may be gei orally accepted as stiong elements in support of the bona fides, and decided ultimate si ccess ot the venture, in addition to which a further and libfral cons cession has been madi in granting tbe company 1 right to 600 feet in *s idth on either side of the entire length of the j: *oposed tuunel ouiside of vested interests, an 1 as nine distinct and separate lines of go d-*bearing reef traverse the company's claim it a right angle, or thereabouts, apart from any others not visible, which by reasonable inference may bo met with, it may be ft irly chaructcvized as a highly promising spe sulation, A still further addition to tbe antici jated profits is represented by a tariff on baulage for other corn* panics, estimated at say, 10 per cent over working expenses. There ie a distanc i of three-quarters of a mile of uaoccupied iand from the starting point, through whicl . several of the !mowu lines of reef traverse The company propt se to drive a tunnel from tbe right to the left 1 and branch of the Inangahua river, a thr-c ugh distanco of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reefs ; a number of wbich ha »c been partially worked on the surface on'y, but with payable results, whicb, on the extension of the prou posed tunnel would 1 c at once turned to profitable account, o many of them would be tapped at depths ranging from 1500 feet downwards from the outcrops, ensuring an unlimited eupply of g aid-bearing stone, which by a thus reduced co fc of production cannot, in tbe opinion of ;bo projectors, fail to leavo a very bandson c margin of profit. The Golden Fleect Extended Gold Mining Company, whose ease is on the proposed line, are at present *aising stone from the low level, 700 feet bt low the outcrop, giving tbe bawborae return of two ounces to tbe ton, which is the bt-61 yet obtained from the mine, ond may be accepted as indicative o! the accuracy of a cry prevalent opinion '* that tbe richness o our quartz lodes increases with their def ;h." The maximum of 3alls will be One Penny per share per month , thus affording an opportunity to all clae es of participating in the venture by the 1 mi. ation of liability to a minimum. . A fifteen-head enh -.per battery is erected immediately contigums to tho tunnel's moJhh, available lot crushing any stone obtuined. As a miuing specul tion, ifc p-e.-rnts direct and prospective ad rantages seldom met 1 with iv kindred ventu -es, as illustrated by the combination referred ;o, and stilt further by recent statistics fnm shed to tbe New Zea» land Government, gh iwing tlut Joß,l3Bozs. of gold, the yield of 1 56,862 tons, representing an aveyage of 13 dwts 19 grs., or ne.irly [ 14i dwts. per ton hay i been obtained by the various company's lh t have beeu, ond are afc work on the lines of eef proposed to be intersected. Taking tl c ir.oney valuo per ton £2 12s Bd, a clear pre fit of £1 ss. per ton can be Becured, allowing t ie cost of production to be divided thus — cm lung by wa'er power, ss. per ton ; cost of raising stone, 10s 6d, per ton ; wear, tear, i lanagement, and contingencies, 12s Gd. Tot il, £1 7s Bd. leaving a balance of £1 5s to b » divided as profit. In conclusion, the projectors with every confidence assert thai a more genuiue mining venture, and one pas-messing the same elements to achieve sue :ess bas seldom, if ever, beea put oa the mar' et. i , - ,_ ' PROSPECTUS AND FORMS OF ■ APPLIC ATK NS FOR SHARES TO BE OBTA INED FROM THE UNDERSIGN ED. HENRY G: 10. HANKIN, ' Sec 'etary. CHARLES I. EDWARDS, STOB B] : B B PER Blackja Point. aOODS PACKEp TO ALL PARTS OF THE DIRICr,