Page 3 Advertisements Column 2

Inangahua Times, Volume II, Issue II, 24 May 1880, Page 3

PROSPECTUS Off TMB IVAFGAHTJA LOW LEVEL TUNNEL GOLD MISIJSG COMPANY, LIMITED, REEFTGN. 1 CAPITAL ... L .... £12,000 la 24000 Shares] of 10s. Ea ah. . , To be Beoistbbed ttndek the PsovrsioNs of " The Mining Companies' Acts, 1872." I Calls limited to Ont Penny per Month, with a deposit of Ti\o Pence per Share on Application. pßomsioirlE directors. ROBEBT OxLEY PATRICK BbENNAST "'■ ■John Tbennery Geobge Wise WILLIAM GaBDNEB JChaBLBS FBiSEB •James Connolly JR. E. Gullinb P. Q. CAPLES M AtHBW PYRNB Fbank Hamilton LJoseph KiiGotJß Banxebs i BANK OF NEW ZEALAND. , SonteiTOB t ' -'' •' JAMSS LYNCH, E.«<j. Secbetaby: ' HENEY GJfU. HANKIE. objects of The company, • .In submitting tha proposed undertaking for the approval ofjtha general public, and more especially thl inhabitants of the district, whose interif* must necessarily be directly benefited by! the impulse given to a further development pf the' Ridden wealth' of the field, and a« a I sequence the increased circulatiou of capital locally, the projector's have every confidence in its successful issue — which in the firstvlace may be attributed in aver) large degree to the widely expressed opinions of a variety of experts — first among whom may be mentioned the name of Dr. Hector, Government Mineralogist, &c. who says, that* the const uttion of such a tunnel cannot fail ifr inter* ct numerom golden rind other valuable metal ie lodes ; the local rain* erological products of the neighbourhood' fully justifying the of cheir eistence in well-defiii >d ' strata at a depth obtainable by the prope Bed scheme." - Secondly : By the immeasurab y superior advantages of profitably working many lines o' reef now in abeyance by leasonnf the exceptionally high rates attending tb« production of otherwise payable stone by companies of limited capital ; thirdly — r rom the Haet of the Government j recognising "at tUe instance and- recom* tnendation of their Engineers " the importance and valu* of the w*k, as a means to a great public good, by guaranteeing a" subsidy of £ for £ of capital subscribed by the publicfacts that may be generally accepted as stiong elements in suppoitof the bona fides, and decided ultimate sjucoess ot the venture, in j addition to which js further and liberal con» J cession has been made ingrauiiug the company right to 600 feet in iridtfc on 1 either «de of the entire length of the proposed taanel outside of vested interests, aid- as'ft^no dinttnct and separate lines of [ «ld»beariflg reef tf ..verse the company's ckin at a right angle, or there* about*, apart froi i any otters not visible, which by reasooab c iafereuee may be met with, it may be airly - pharaeterieed as a highly promising speculation. A still further addition to the anticipated profits is represented by a tariff on haulage for other com* panics, estimated t, tay, 10 per cent ov«r working' expenses. '_' • There is a di^ta ««' of" three-quarters of a mile of uaoccupief Jand from the starting : point, through wli cfi several of the known lines of reef travel ie. "t The company pr< sose to;drire a tunnel from the right to the lof ; hand j brunch of the Inangahua river, a ttjrough • distance of some two and a-half miles, anq thereby intersecting a perfect network of gold-bearing reel? j a number of which pave been partially worked on the surface onv, but with payable re-, suits, which, •on m« extension of the pro* posed tunnel woull be at once turned to profitable account.ws nna,ny of them would be tapped at cfepthj. rshging from 1500 feet I downwards from tie outcrops, ensuring an unlimited supply oflgold bearing stone, which by a thus reduced rost ot production cannot, in the opinion of t the,, projectors, fail to leave a very huncUopae niargin of profit, The Golden Fleele Bitended Gold Mining Company, who«f lease is on the proposed j line, are^at present l : raising - stone from the iglojr level, 700 feet lelbw the outcrop, giving Bfttjj^And.'ome return of\twa ounces to the is the beu jet'obtained . from the may be aßeepteil as indicative ol of a Wer| prevalent opinion Richness * oflr Quartz lodes intheir dedfh.' 1 \ H^^^Hbimum of pfclls will be One Fenny month! thus affording a tt4? p_ all «l«Jns of participating'^ by the llnitation of liability to PH^fteen-head statf per battery is erected Fiimnediattily oontigulus to the tunnel's mouth, available fort crushing any stone obtained. ' I t As a mining speculation, it pre enls direct and prospective «d*ntages seldom met with in kindred renturw^Ujllustrated by the combination referred txjt anuh-^tni^ further by recent statistics furniakd to tße^x^wjjea. land Goyernuoeut, shown that 108, I& of gold, the yield ol 15«6frtons, representing an average of 13 d**,l9 grs ; , or nej^ly 14dwts per ton have |*n obtained W the various company's that liav^been, anijai-eal work on the lines of reel proposed t/be intersected. Taking £2 12* Bd, a clear profitlpf £1 55./|r toa cat ' be secured, allowing thefcost of /odaction te be divided thus— oriwhfjg by/a er pow«r ss. per ton ; cost of rfsing itoae, 10s t>o per ton ; wear, tear, milagenint, and contmgeaciea, 12s 6d. Total,kl/7s 8d ? leaving, balance of £1 5s to be Jifided as profit. In conclusion, the pfjectors wish ever; confidence assert that a Inore genuine mmm venture, and one poetising the same ele ments to achieve supesl has seldom, lfevei been put on the ma/ket.l PROSPECTUS AND FORMS O> APPLICATION SFOB SHARE, TO BE OBTAINED FROM Tty UXDERSIGNEfi. ..¥ HENBY Oria TOASELIf T Secre] ary, OHAKLES H ( EDWA ;^ S > STOEBK 5E P ? { Black's Point GOODS PACKED T^ 1^ PARTs ptpp OF Tp , '