Page 3 Advertisements Column 2

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

PRO SPEPTUS CF THE INAFGAHUA LOW LEVEL TUNNEL GOLD MpiNG COMPANY, LIMITED, REEF TON. CAPITAL ,„ .. ... £12,000 la 24000 Shares of 10s. Eaib. To be Begistebed tjndlbb the Pbovisions op ' The Minis eh Companies' Act, 1872." J Ca!h limited to One Penny per Month, ■Kith a deposit of Two iPenee per Share on AppUwiion. PROriSIONALWIBEGTOBS. ROBBBT OxIEY pItRICK BttENNAN John Teennekt Geoegb Wise Wilmam Gakdneb Chaelis Fbaseb James Connolly RJ K. Gulline P. Q. Caples Mathew Fybne Fbahk Hamilton Joseph Kilqoub BanktJbs : BANK OF NEW ZEALAND. SoLldlToß ! JAMES LYNCH, Esq. SeCBE' ABT : . • HENRY GKI . HANKIN. OBJECTS OF T IE COMPANY. In submitting the Jroposed undertakisg for the approval of tl c general public, and more especially the inhabitants of the district, whose ,interesti must necessarily be directly benefited by tl c impulse given to a further development of the hidden wealth of the field, and as a si quence the increased circulation of capital locally, the projectors have every confidence [in its successful issue —which in the first pikos may be attributed in averj large degree a the widely expressed opinions of a variety ( f experts— first Among whom may be menti< ned the name- of Dr. Hector, Government linerologisfr, &c, who says, that " th« constru 'tion of such a tunnel emnot fai\ to intersect namerpu* golden and other valuable metallic lodes ; the local mm* erologieal products o: the neighbourhood fully justifying the as: aoaption of ihdr exstetice in well-defined strata at a depth obi taitwble by the propose 1 scheme.'* Secondly : By the immeasurably superior advantages of i profitably -working mt ny lines of reef now in ' abeyance by leasao of tbe exceptioaallvi high rates attending the p eduction of otherwise payable stone by cooipt dies oi limited oapital ; thirdly— from the fac bof the Crovariment recognising "at the nstance and recom* mendation of their Bnp iaeers " the importance and value of the work, as, a means to a gre fc public good, by guaran .eeing a subsidy of £ for £ of capital subsoi ibed by the publicfacts that may be geaei ally accepted as stiQjng elements; in support ot the* iona' Jiiss^ arid decided ultimate imdebs ot the ; venture, in addition to which a further and liberal cons cession has been made inTgronting.the company rightvtoj6oo leet in widm on eitber-sidS of the efitirsi lengtjiof tha projjosed tunnel outside of vested interests, and is. nine distinct and separate lines of gold»p wing reef truveree the company's claim at alright angle, or thereabouts, apart from aay others not visible, which by -reasonable inffrenefi may be met with,, it may be fairlylcharacterized as a highly premising speculation. A still .furthtr addition to the anticipated profits is represented by a tariff on haulage for other com* panics, estimated at, say, 10 per cent over working expenses. < . ■ .'■ 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. i Tha company propose t > drive a tunnel from the right to the left ham I branch of the In' angahua river, a througi > distance oi some two and a-half miles, at d thereby intersec - I ing a perfect network of gold-bearing reefs j I a number of which have >een partially worked lon the surface only, bu t with payable reI suits, which, on tho c itension of the pros posed tunnel would be at once turned to profitable account, as n any of them would j be tapped at depths rai ging from 1500 feef j downwards from the oi tcrops, ensuring an unlimited Bupply of golcl beaiing stone, which I by a thus reduced cost n production cannot, J in the opinion of tha projectors, fail to I leave a very handsome margin of profit* The Golden Fleece Extended Gold Mining Company, whose leaje i& on the proposed line, are at present railing stone from the I loir level, 700 feet belo4 the outcrop, giving „[ the handsome return of two ounces to the ji.ton, which is the best yJt obtained from the ■mme,andmay be accented as indicative ot Hjjbaccuracy of a vert prevalent (pinion richness of odr quartz lodes inwith their depth.! of Calls will be One Fenny per month, this affording an opto all classes [of participating, in by the limitHtiou of liability to stampei battery is erected Wrowediately contiguous |to . the tunnel's mouth, available lor apbing any stone obtained. I As a mining speculation! it pieents direct and prospective advantages seldom met with in kindred ventures, * illustrated by the combination referred to, and still further by recent statistics furnished Ho the New Zea» land Government;, showina that 108,188o?s. of gold, the yield of 156,86^ tons, representing an average of 13 dwta 119 gra., or nearly 14 dwts. per ton have been obtained by the various company's tbat have been, and are at #prk on the lines of reef proposed to be intersected. Taking tbe aonfey value pey ton £2 12s Bd, a clear profit of m. sa, per too can be secured, allowing the costtof jKoduefcion to be divided thus— crushing ly wa er power, ss. per ton j cost of raising! store, 10a 6d, per ton ; wear, tear, management, and contingencies, l?s; 6d. Total, £1 Is Bd. leaving a balance of» il 5s to be dividefi as profit. In conclusipOi the projectors with every confidence asslft that a more kenuine mining venture, and one possessing lthe same elements to achieve success has leldom, if ever, been put on the market. I 1 PROSPECTUS AND FORMS OF I APPLICATIONS FOB SHARES TO BE OBTAINED FROM THE UNDERSIGNED. I HENRY GEa HAWKIN, Secretary. \ OHAKLES fl. EDWAIiJ^ L STOEEKEE PER I Black's Point. 1 CrOODS PACKED TO ALL PARTS OP THE DIRICr.