Page 3 Advertisements Column 2

Inangahua Times, Volume II, Issue II, 19 May 1880, Page 3

PRospiTcTtrs Of THE TNAFGAHUA] LOW LEVEL TUNA NEL OpiD MINIING COMPANY, LIFTED, REEFfON. CAPITAt i ... -. 12 '0°0 In 24000 Snares of 10s. Eash. To be Eesistebi d ttndbb thb Pbcvision* or " Thb N iwihg CoMrisißs' Aoxa, 1872." Calls limited to One Penny per Month, wUH, a deposit q ? Two Pence per Share on . Ipplicatioii, PBOVISIO. TAL DIREQTOm RobebtOxlby Patrick Bbennan •Tohn Teenneei Geobge Wise . WIIMAM GaJW »B ChABLES FBiSJiB '.''' James CoNNoii,- ' R. E. Gvuixsti ''' ;'; P. Q. Oapieß I Mathew BrivH J Fbamk Hamiit<p Joseph Kilqoub Bankers : BANK OFTnEW ZEALAND. ISolicixoe : JAMEfe LYNCH, E.^. OECBETAET : HENR'H GEO. HANKLN. OBJECTS OF THE COMPANY. In subimttiDa .the proposed undertaking for the approval of the general public, and more especially! the . inhabitants of the, district, whose interests must necessarily be directly benefited by the impulse given to a further development of the hidden wealth o( the field, and aj a sequence the inoreased circulation of Apital locally^ the projectors have every confidence ia its successful issue —which in the first place may be attributed in averj large degree to the widely expressed opinions of a variety of experts— first among whom may be {mentioned the namo of Dr. Hector, Government Minerologist, &c, who says, that '• the ionstruition of such a tunnel cannot fail to iitersect numerous golden and other valuable netallio lodt-s ; the local minx' erological prodjucts of the neighbourhood fully justiryirrgjthe assumption of iheir, ejestence in well-jdefined strata at a depth obtainable by the proposed scheme." Secondly : By the immeasurably superior advantages of profitably worljing many lines o f reef now in abeyance by i Jason of the exeeptionallv high rates attending the production of otherwise payable stone try companies of limited capital ; thirdly— r rom jthe lact of the Governaient recogniting "At tho instance and r«cora» mendation of nieir Engineers " the importance and value of tne work, as a means to a great public good, br guaranteeing a subsidy of £ for £ of capitil subscribed by the publicfacts that maj be generally accepted as stiong elements in support of the ; io'na Jidda, and decided ultimate success 6\ the venture, in addition to winch a further and liberal con» cession has beep made in granting the company right to 600 fefet in width on either 'side of the entire lengtu <s the proposed tunnel outside of vested interesjs, and as nine distinot and separate line* jof gold-bearing reef triverse tho ootppany'slclaitn at a right angle, or thereabonfcs, apart] from any' others' not visible, which by reasonable inference may be met, with, it tnajj be fairly characterized as ,& highly promising speculation,' A still further addition to thf anticipated profits is represented by a tariff on haulage for other' com* panics, estimated at, tnj', 10 per cent over wotkmg expenses. There is a Distance of. three-quarters of a mile of uaocdupied land from the starting point, througa which several of the known lines of reef traverse. Tho company propose to drive a tunnel from the right to tils left hand branch of the In* angab.ua river,! a through distance of some two and a-haln miles, and thereby intersecting a perfect network of gold-bearing reefs j a number of wiicb have been partially worked on tho surface! only, but with payable results, which) 4n the extension of the pro» posed tunnel wbuld be at ■ once turned to profitable account, as many of them would be tapped at daptbs ranging from 1509 feel downwards from the outcrops, ensuring an unlimited mpplr of gold-bearing stone, which by "a thus reduced cost, of production cannot, in the opinion! of the projectors, fail to leave a very handsome margin of profit. The Golden Tleece Extended Gold Mining Company, wsose lease is on the proposed line, are at preslnt raising stone from the low level, 7OO.fett below the outcrop, giving the handsome riturn of two ounces to the Iton, which is the! best yet obtained from the ■■Le, and may bp accepted as indicative of of la very prevalent opinion richnels of'our quartz lodes intheirldepth." Calls will be One Fenny month, thus affording an opall glasses of participating in by thi limitation of liability to {tamper battery is erected contiguous to the tunnels available lor ' crushing any stone | As a mining epecLlaiion, it .pre ents direct and prospective Advantages seldom, met with in kindred ventures, as,illusirated by the combination referred to, and still further by recent statistics furnished to the New Zea» land Government, dhowing that 108,188ozs. of gold, the yield of 1156,862 tons, representing an average of Ip dwfs 19 grs., or nearly 14dwts, per ton hate been obtained by the various company's ttLt have been, and are at work on the lines of reef proposed to be intersected. Taking tie money value per ton £2 12s Bd, a clear prdfit of £1 5^ per ton can be secured, allowing tne cost of production to be divided thus — crnlhing by wa er power, 6s. per ton ; cost of Iraising stone, 10s (3d, per ton j wear, tear, nkuagement, aud contingencies, 12s 6d. Totti, £1 7s Bd, leaving a balance of £1 5s to bel divided as profit. In conclusion, the t rejectors with every confidence assort that a more genuine mining venture, and one possessing tho same ele« ments to achieve success has seldom) if ever, been put on the market! PROSPECTUS AMD FORMS OF APPLICATION B%FOR SHARES TO BE OBTAINJW FROM THE UNDERSIGNEZW HENRY g^m^NKllSr, Sgerefayv ■ _ STOEEEE BIP B R Blask'a Point, j /i.w.ns; vxr-KVf) to is\,L PART. 0