Page 3 Advertisements Column 2

Inangahua Times, 30 April 1880, Page 3

PROSPECTUS OV THB TNANGAHUA LOW LEVEL TUN•V' NEL GOLD jMINLNG COM7^TAwr;mmrsm, BEEFroN. . i ____ Capital -£12,000 / tin 24000 Shares of 10.. Eajh. ' To BE BeGISTEKED UN DEB THE PboVISIONS op " The Minis g Companies' Acn, 1872." Calls limited to Oni Penny per Month, vciik a deposit of Tm Pence per Share on Application. PROVISIONAL 'DIRECTORS. ROBEBT OXLEY |PaTBICK BBENNAN John Tbknneby JGeobgb Wish WILMAM GABDNEB ChABIjBS FB-SEB James Connolly R. E. Gullinb P. Q Caples Mathew Pybnb Fbank Hamilton Joseph Kilgoub rt ajs in?w«s * BANK OF NEW ZEALAND. So: jIGITob : JAMES LSTNOH, Esq. Sbci ETABY ! HENRY G SO. HANKIN. OBJECTS OF THE COMPANY. In submitting thi proposed undertaking for the approval of the general pablio, and more especially tlie inhabitants of the district, whose inter ats must necessarily be directly benefited by the impulse given toa further development of the hidden wealth of the field, and as a sequence the increased circulation of capit d locally, the - projectors bave every conflder ee in its successful issue which in the first place may be attributed in a verj large degre a to the widely expressed opinions of a variet; , of experts— first among whom may be mer tioned the name of Dr. Hector, Governmen Minerologisfc, &c, who says, that" the const ruction of such a tunnel c mnot fai\ to inters set namerout golden and other valuable meta lie lodes; the local min* erological products of the neighbourhood fully justifying the assumption of iheir exstence in well-defii ed strata at a depth obtainable by tho prop «ed scheme." Secondly : By the immeasurab y superior advantages of profitably working many lines of reef now in abeyance by leason of the exceptionally high rates attending thi production of otherwise payable stone by cot ipanies of limited capital j thirdly— from the fact of the Government recogniting *■ at tl e instance and recom* mendation of their] Ingineers " tbe importance and value of the W( rk, as a means to a great public good, by gua anteeing a subsidy of £ for £ of capital su (scribed by the publie— facts that may be g merally accepted as stiong elements in suppo t of the bona, fides, and decided ultimate i uccess ot the venture, in addition to which la further and liberal con» cession has been maue in granting the company right to 600 feet inferidth on either side of the entire lengtn of thelproposed tunnel outside of vested interests, and as nine distinct and separate lineit of |cld»bearing reef traverse the company's claim at a right angle, or there'abouts, apart from any others not visible, which by reasonable inference may be met witb, it may be [fairly characterized as a highly promising speculation. A still further addition to tbe anticipated profits i? represented by a tariff on haulage for other com* panies, 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 lineß of reef traverse. Tha company propose to drive a tunnel from the right to the left hand branch of the Inangahua river, a through distance of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reefs j a number of whioh have been partially worked on the surface only, but with payable re--suits, whiobj on the extension of the pro« posed tunnel would be at once turned to profitable account, as many of them would be tapped at depth ranging from 1500 feet downwards from tie outcrops, ensuring an unlimited eupply of gold-bearing stone, whioh by a thus reduced < ost of production cannot, in the opinion of the projectors, fail to leave a very handsc me margin of profit. ! The Golden Flee *e Extended Gold Mining Company, who* lease is on the proposed line, are at present raising Btone from the low level, -700 feet ielow tbe outcrop, giving ■the handsome return of two ounces to ihe ■jf) whioh is tbe be it yet obtamed from the A, and may be ccepted as indicative of of a very prevalent opinion richness if our quartz lodes intbeir d< pth." oi Calls will be One Penny per mont i, thus affording an opto all ch sees of participating in by tbe limitation of liability to st mper battery ia erected Hnmediately cohtigious to the funnel's Fmoutb, available lie crushing any stone obtained. As a mining (speci !atio», it pre- eats direct and prospective a Ivantages seldom met with in kindred vent tires, as illustrated by tbe combination referred! to, and still further by recent statistics furiished to the New'Zea» land Government, Blowing that 108,l88oz*. of gold, the yield of .56,862 tonß, representing an average of I < dwts 19 grs., or nearly 14 dwts. per ton ba: e been obtained by the various company's tt at have been, and are at work on the lines of reef proposed to be intersected. Taking tie money value per ton £3 12s Bd, a olear pr ifit of £1 ss. per ton can be secured, allowing l he cost of production to be divided thus— cm ihing by waer power, ss. per ton j coat of raising stone, 10b 6d, per ton j '-wear, tear, i janagement, and contingencies, 12s 6d. Tot il, £1 7s Bd, leaving a balance of £1 '5s to b > divided as profit. In conclusion, tbe projectors with every confidence assert that a more genuine mining venture, and one post-essing the same elements to achieve success has seldom, if ever, been put on the market. prospectus And forms of applications for shares to be obtained from the undersigned. HENEY GEE HANKIN, Secretary. CHAKLES fl EDWARDS, STOKEKEB/PER Blacky Point. GOOD/ PACKED TO ALL PARTS _a***" OF THE PIRICT,