Page 3 Advertisements Column 2

Inangahua Times, Volume II, Issue II, 10 May 1880, Page 3

OV TH$ TNAFGAHUA LOW LEVEL TUN-. -*- NEL GOLD M:NIING COMPANY, LIMITED, REEFrON. CAPITAL J ... £12,000 In 24000 Shares oj 103. Ea^b. To bi Reqistbeed tfndib thb Pecvisions of " Thb M using ICompasie*' A*ts, 1872." J Calls limited to One iPenny per Month, with a deposit of Two JPence per Share ■ qu Application. PROriSIONALWmWTORS. : ROBBBT OxIEY PITEICK BRENNAN John TBtoKBBT Geobge Wisje WIIMAM GABDNEB C IABLBS FfliSßß James Connolly R E. Gulunb P. Q Cables W athew Btbne Fbank Hamilton J iseph fCiLaoira Bankibs : BANE OF NE'V ZEAL IND. SOLII ITOB : JAMES LV SCH, Ef«. * Secbe'AßY: HENBY GE(>. HANKIN. OBJECTS OF~T ii COMPANY. In submitting the proposed undertaking for the approval of tlie general public, and more especially the inhabitants of the district, whose interes t must necessarily be directly benefited by t ie impulse given to a further development 0 the hidden wealth of the field, and as a s equenoe the increased circulation of capital locally, the projectors have every confident in its successful issue — which in the first p ace may be attributed in a verj large degree to the widely expressed opinions of a variety of experts — first among whom may. be menti mcd the name of DrHector, Government Minerologist, &c, who says, that '" the constri of such a tunnel cannot hi\ to intersec i numerous golden and other valuable metalli lodes ; the local mm* erological products 1 f tbe neighbourhood fully justifying the a; sumption of iheir exstence in well-definei strata at a depth obtainable by the propose i scheme." Secondly : By the immeasurably superior advantages of profitably working mi ny lines of reef now in abeyance by leason ot the exceptionally high rates attending the p 'oduction of otherwise payable stone by compi nies of limited oapital j thirdly— from the fa< : of the Government recognising "at the instance and reconm tnendation of their Enf ineera " the importance and value of the work, as a means to a great pubMo good, by guaran eeing a subsidy of £ for £ of capital subsci bed by the publicfacts that may be genei illy aocepted as strong elements in support 0 the bona fides, and decided ultimate succ ss ot the venture, in addition to which a ft fther and liberal cou» . cession has been made it granting the company rigbt to 600 feet in -Vidt 1 on either side of the entire lengtn of the proj osed tunnel outside of vested interests, and s nine distinct and separate lines of gold* >earing reef traverse the company's claim at a right angle,- or thereabouts, apart from any others not visible, which by reasonable' inf rerice may be met with, it may be fairly characterized as a highly promising specula ;ion. A still further addition to the anticipate i profits is represented by a tariff on hau age' for other com« panics, estimated at, Ba; ', 10 per cent over working expenses. There is a distance - of three-quarters of a mile of unoccupied laud] from the starting point, through which seteral of the known lines of reef traverse. I The company propose toldrive a tunnel from the right to the left hand! branch of the In* augahua river, a through 1 distance of some two and a-half miles, andjthereby intersecting a perfect network of* 1 old-bearing reefs j a number of which have be sn partially worked on the surface only, but with payable results, whioh, on the ext< rision of the pro» posed tunnel would be at once turned to profitable account, as mar y of them would be tapped at depths rangi ig from 1500 feet downwards from the outciops, ensuring an unlimited supply of gold-baaring stene, which by a thus reduced cost of f reduction cannot, in the opinion of the Irojeetors, fail to leave a very handsome martin of profit. The Golden Fleece Extended Gold Mining Oompany, whose lease il on the proposed I present raising! stone from the 3 feet below thr outcrop, giving ie return of two ounces to the tb^best yefcoltained from the iy be accepted as indicative of ■ of a very pi avalent opinion ■ shnesfa of our c aartz lod?8 iatheir depth-" mum of Calls w 1 be One Penny r month, thus ffording au opall classes of (articipating in >y the limitatio 1 of liability to dead stamper bi ttery is erected ' contiguous to * the tunnel's mouth, available for crush ing any stone obtained. , - As a mining speculation, it pre ents direct and prospective advantage seldom met with in kindred ventures, as i iustrated by the combination referred to, and still further by recent statistics furnished tc the New Zea* land Government, ehowing t iat 108,188q£3. of gold, the yield of 156,862 I sns, representing an average- of 13 dwts. l! 1 grs., or nearly 14 dwts. per ton have been obtained by the various company's that bave been, and are at work on the lines of reef pro >osed to be intersected. Taking the rcom y value per ton £2 12s Bd, a clear profit of £. ss. per ton can be secured, allowing the cost if production to be divided thus—crushing 1 y wa er power, ss. per ton ; cost of raising stone, 10s 6d, per ton 5 wear, tear, managea ent, and contingencies, 12s 6d. Total, £1 ' 's Bd, leaving a balance of £1 5s to be divide I as profit. In conclusion, the project rs with every confidence assert that a more genuine mining venture, and one possessing the same elements to achieve success has seldom, if ever, been put on the market. PROSPECTUS AND FORMS OF APPLICATIONS FO. 2 SHARES TO BE OBTAINED . "ROM. TEE UNDERSIGNED. HENRY GEa Hj JTEIN, Secretary. OHAKi.ES H. W> IVAUm, STOREKEE PER Black's Point;. aODDS PACKED TO ALL PARTS OF THE DIttlCT.