Page 3 Advertisements Column 4

Inangahua Times, Volume II, 20 August 1880, Page 3

PROSPECTUS OF THB INArGAHUA LO\r LEVKI. TUNNEL GOtD '-'MINING. COMPANY, LIMITED, REEFTON: CAPITAL .I ... ... *12,000 In 24000 SsLres of 10s. Ea:b. T.O BB BbGISTBBBD TTNDEB THB PBoVtttONS op " Thb Mining Companies' Acts, 1872." I Calls limited to\ One Penny per "Month, Kith a deposit qf Two Pence per Share tin Application PROVISIONAL DIRECTORS. KOBEBT OXLET I PaTBICK BbeNNAN John Tbennekt Geobgb Wisb William Gabdkeb Chables Fb^seb Jambs CoNNOLipr R. K. Gcllinb P. Q Caplbs I Mathew Pybne Fbank HAMiLTbN Joseph Kilgocb Bankebs : BANK OFNEW ZEAL\ND. 1 Solicitob : JAMBS LYNCK, Esq. TECBETABT : HENRY GKO. HANKIN. OBJECTS OF THE COMPANY. In submiMin; the proposed undertaking for the approv 1 of the general public, and more especiall; the inhabitants of the district, whose ntereslß must necessarily be directly benefit* i by the impulse given to a further develop! lent of the hidden 'wealth of the field, and a i a sequence the increased circulation of i apital locally, the projectors have every confidence in its successful issue — which in the Erst place may be attributed in aver} large degree to the widely expressed opinions of avi riety of experts— first among whom may be mentioned the name of Dr. Hector, Govern nent Minerologist, Ac. who says, that" the< onstru^tion of such a tunnel csranot fail to ii tersect numerous golden and other valuable i etallic lodes ; the local mm» erological prod icts of tbe neighbourhood fully justifying he assumption of iheir exstence in well- lefined strata at a depth obtainable by tbe ] roposed scheme." Secondly : By the immeatu rably superior advantages of profitably work ag many lines of reef now in abeyance by tei son of the exceptional^ high rates attending the production of otherwise payable stone bj companies of limited capital ; thirdly— from tie fact of the Government recogniting "al the instance and recommendation of thlir Engineers " the importance and value of the] work, as a means to a great publio good, by uaranteeing a subsidy of £ for£ of capital subscribed by the public— fuctsthat may I 'generally accepted as Btiong elements in su] port of the bona fides, and decided ultimat suooess of tbe venture, in addition to whi h a further and liberal conn cession has been iiade in granting tbe company right to 600 feet in width on either side of the entire length of he proposed tunnel outside of vested interests, and as nine distinct and separate lines o gokUbearing reef traverse the company's c tim at a right angle, or thereaboijte, apart *om any others not visible, which" by reaaoi ible inference may be met with, it may c fairly characterized as a highly promising speculation. A still further addition to the anticipated profits is represented by a tariff lon haulage for other com« panics, estimate! at, say, 10 per cent over working expense! There is a dilance of three-quarters of a mile of unoccupied land from the starting point, through wbioh several of the known lines of reef travlrse. The company propose to drive a tunnel from the right to the l«t hand branoh of the In* angahuft river, a Ihrough distance of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reefs ; a number of whicu have been partially worked on the surface only, but with payable results, whiob, on the extension of the proa posed tunnel would be at once turned to profitable accouni as many of them would be tapped at deptks 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 leavo a very handsbme margin of profit* The Golden Fie cc Extended Gold Mining Company, who b lease is on the proposed line, are at presen raising stone from the low level, 700 feet below the outcrop, giving the handsome reti m of two ounces to the ton, which is the b st yet obtained from the mine, and may be accepted as indicative ol the accuracy of a very prevalent opinion " that the richness of our quartz lodes increases with their c spth." The maximum o f Calls will be One Penny per share per mon b, thus affording an opportunity to all classes of participating in the venture by thel limitation of liability to a minimum. I A fifteen-head stamper battery is erected immediately contiguous to the tunnel's mouth, available i>r crushing any stone obtained. I As a mining speculation, it presents direct and proepeetive Idyantages seldom met with in kindred ventures, as illustrated by the combination referred to, and still further by recent statistics furnished to the New Zea* land Government, snowing that 108,188o«. of gold, the yield of 1156,862 tons,' representing an average of IB dwts. 19 grs., or nearly l^dwts. per ton have been obtained by the various company's tlat have been, and are at work on the lines oflreef proposed to be intersected. Taking me money value per ton £2 12s Bd, a clear piLfit of £1 ss. per ton can be spcured, allowing Ihe cost of production to be divided thus — cribbing by waer power, ss. per ton ; cost ofl raising etone, 10s 6d, per ton ; wear, tear, management, and contingencies, 12b 6d. Totkl, £1 7s Bd, leaving a balance of £1 5s to bb divided as profit. In conclusion, the I projectors with every confidence assert thane, more genuine mining venture, and one possessing the same elements to achieve succkbs has seldom, if ever, been put on the marklt. PROSPECTUS 4ND FORMS OF APPLICATIONS FOR SHARES TO BE OBTAINED FROM TEE UNDERSIGNI D. HENRY G£ X HANKIN, Secr< tary. ■; OHAKLES B. KDWAKI>3>i STQR.EKEB PER \j Blaek'j Point. aOoDS PACKED TO AL& PARTS OF THE DIRICT.