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PROSPECTUS INAFGAHUA LpSV LEVEL TUiN T - KEL GOLD MIN^G COMPANY, LIMITED, REEFTOX CAPITAL ..,[ ... ... £12 000 In 24000 ShiiW* of 10s. Ea ;h. VTo BE "REeTSTEBED iTNI)En THE PR; VISIONS of " lek M iNixck Companies' Acts, 1872." A ' Calls limited to One Kenny per Month icith a deposit of 7wo fence per Share on Appllcltlvi PBOVISIOXALpiBWIO'RS. Robeht O>:r,ET Ltiiick Brennajt JOHN '''KEKNEHY ( RCRGS Wnß WIIiIiIAM. GaHDNEK ( 'EABLKS FltisEß James Conxollt I. K. Gullinb P. Q. C'APLKS iTATHEW fYttNE FeAKE liAiIILTOK loJEPH KILOOUB Bankkbs : BANK OF JSKW ZEALAND. Solicit' k : JAMES LYNCH, Esq. MAJTAffiRR : GEORGE] WISE. OBJECTS OF TiiE COMPANY. In submitting the proposed undertaking for the approval of thfe e en e r: 'l public, and more especially " the 1 inhabitants of the district, whose ir.tcresti mu?t necesscrily be directly ben. Gted by tlie impulse given to a further development ol the lvdden wealth of the field, and os a #quence the incrensed circulation of capital! locally, the projectors have every oonGdenel in it* successful issue —which in the first .{Jitt'C may be attributed in ttven l:» r g e degreefto the widely expressed opinions of a vuriety Jof experts— fust a-rong whom may be mer.t|»ned the namo of Di*. Hector, Government IMinei-ologisr, &c. who say?, that' 1 theconstri-tion of such a tunnel cninot fai\ to intersect numerni^ golden and : other vaJuabie mftalli* lod-s ; the local mm* erologicnl products df tho neighbourhood fully justifying the aAuraption of iluir esstence in weH-definedl strata at a depth obtainable by the proposes scheme." Secondly : By th<Mmraea-urably lupcrior odvantagesol profitably working ma*y lines o<* reef now in abeyance by leiiSi.n o! lho exoeplioualiv hiab ratpg attending the prpduotion of otherwise payable itohs'by couiprtiieaot limited opital ; thirdly— ! >ou» the Jacj of the Government recogniting !l at' the Instunre and recommendation of their Enunecrs " the importance and value of tho wovk^is a means to a gre;M public good, by guaraiieeihg a subsidy of £ for £ of capital subset ibed by the public— fi.cta that may be genially accepted as stiong elements in support If the loaa fides, and decided ultimate Fuicess ot tho venture, -in addition to which ajTurlucr and lib^-ivil con» cefsioti hns been madeJin granting the conpiny right to 600 feet in width on either side of the entire lengtii of the jfroposed tumiel outside of vested interests, anfl as nine riti-tinct and separate lines of gild-bearing reef tr.iverse the company's elaimlat a right angle, or thereabouts, apart fionj any others not visible, which by reasonabl* inference may bo met with, it may be firirly characterized a? a highly promising speculation. A still further addition to the anticipated profit* is represented by a tariff on! haulage lor other com. panieii, estimated aft, cay, 10 p«r cent over woi king expenses. I,' There is a distailce of tlirec-quarters of a mila ofuHOocapicl land frcm ihe stoning point, through winch several of the knowu lines of reef trareise. The company propose to drive a tunnel from \ the right to the left hand iranch of the In- j angahui river, a through distance of some two and a-half miles, and thereby intcrsecl- , ing a perfect nclrfork of gold-bearing reefs ; a number of whicli have been partially worked on tho surface oli'y, but with payable re- ■ cults, whioh, onltlin extension of tho, pro* posed tunnel woijld be at once turned to profitable accouit* os many of them would be tapped at deijths hanging from 1500 feel downwards from the outcrops, ensuring «n ( unlimited euupljjof gold btaring stbnp, which by a thus reduced cost of production cannot, in the opinion of the proji ctnrs, fail to ' leave a xerj' hanpiome margin of profit, , The Golden lileece Extended Gold Mm- ] ing Compnnr, whose lease is on the proposed j liiie, bi'p «t 'present raising stone from the . lo* lfVi-1, 700 f fet below the outcrop, giving { the hnncUome i Pturn of two ouueta to the i toiij, which is th i beet yet obtaintd from the , mine, and mny &c accepted as indicative o! , the accuracy o a very prevalent opinion j " that the rich ess of otu 1 quartz lodea in- ( creases with th ir depth." j The maximi m of Calls will be One Penny per share per aon«h, thu3 affording au op- j portunity to al elates of participating in j the venture by the limitation of liability to | a minimum. t A tifiecn-het d stamper battery is erected f inimidiuhly d ntiguous to the tunneL's i mouib, avaiiubV lor . crus'iing any stone < obtaiued. \ ' As a mining fpEcuiation, it pre ; enfß direct 1 and pro?pyctive \ advantages seldom met with in kindred venturos, as illustrated by the I conibination referrcdVo, and still fur! her by ' recent statistics furnlWied to the New Zl'q» lond Government, show )2 that 108,lSSoz<. ' of gold, the yield ol 150 62 tons, repreaent- ' in<» an-uveriigo of 13 djs s. 19 g»s., or neurh l 1-iTdwts per ton l'.ave b ;en obtained by the ' various company's thut uve been, and are at ' work on the lines of ret proposed to be in- ( tersected. Taking the fconey value per tpn 5 £2 12s Bd, a cuar profi/of £1 si. per tou can ' be secured, allowiug th/ cost of production to 1 be divided thus— crurfiing by wa er power, ss. per ton ; cost of /raising stoce, 10s Gd, j per ton ; weur, tear, management, and contingencies 12s Qd. Total, £1 1i BJ. leaving a j balance of £1 5s to/be divided an profit. l . In conclusion, tie projectors with every s confiil 'nee nsseri tliat a more genuine mining j venture, and one I possessing tlse same ele- ( uienlß to achieve Recess has st-laonij if ever, } i. een put on the m^j»et. , peospsctusa\d foxms of i APPLICATIONS FOE SUAfiFS ' 'JO BF, OBTAINED FROM TEE \ TJXDEBSIGXFID. ! 1 WQUGE WISE, ( I • Mauager. , CHAKLE3 BS^DWARiJS, \ storekeeJper Black's E6int. ' . / "^/: GOODS PACKED TO ALL PARTS i / OF THE^fiISTRICT.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/IT18801122.2.12.5

Bibliographic details
Ngā taipitopito pukapuka

Inangahua Times, Volume II, Issue II, 22 November 1880, Page 3

Word count
Tapeke kupu
975

Page 3 Advertisements Column 5 Inangahua Times, Volume II, Issue II, 22 November 1880, Page 3

Page 3 Advertisements Column 5 Inangahua Times, Volume II, Issue II, 22 November 1880, Page 3

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