Page 3 Advertisements Column 2

Inangahua Times, Volume II, Issue II, 31 May 1880, Page 3

PROSPECTUS Of ff HB INANGAHUA LOW XE||fiL TUNNEL GOLD MINtiNG COMPANY, LIMIT SD, REEFTON. OAPITAL .„ ... .... £12,000 In 24000 Shar* s of 10s. Eash, To BB RBGISTEBBD T NDBK THB PsoTrsinNs of •« Thb Mini ng Companies' Acts, 1872." Calls limited to Oi c Penny per Month, with a deposit of T oo Pence per Share on Application, PROVISIONAL DIRECTORS. BOBBBT OxMST PaTBICK BbbNNAUT ■John Tbejnjnsbit Geobgb Wisb Wiiham Gabmteb Chabibs Fbaseb Jambs Connout R. E. GuitiNß P. Q. Caples Mathew Pyhne Fbank Hahii/to*. Joseph K.lgoub BANK OF NI.W ZEALIND. * Soi :citob : JAMES L'l F NCH, Esq. SjE£ B ITABY : HENRY Gh [). HANKIN. OBJECTS OF""' S COMPANY. In submitting the proposed undertaking for the approval of be general publio, and more especially tin inhabitants of tbe district, whose intere ts must necessarily be j directly benefited by the kaptilse given to a further development < f the hidden wealth of the field, and as a leqnence the increased circulation of capita locally, the projectors have every confidenc > in its successful issue which in the first ] lace may be attributed in averf large degree to the widely expressed opinions of a variety of experts—first among whom may be ment oned the name of Dr. Hector, Government Mineralogist, &c who; says, that" the consti ntion of such a tunnel ' c*nnot fai 1 . to interse t numerous golden and other valuable metsll 5 lodes ; the local mm« erological products >f the neighbourhood fully justifying the t isumption of iheir eistence in well-defin< 1 strata at a depth obtainable by the propoi _d scheme." Secondly : By the immeawrabl; superior advantages of profitably working n asy lines of reef npw in abeyance by reason < f the exceptionally high ' rates attending the ; Hroduotion of otherwise payable stone by com; aniesof limited oapital ; thirdly— r rom the i ct of the Government recognising "at tbc instance and recora* mendation of their Ei gineers " the importance and value of tbe wor ;, as a means to a great publio good, by guar, iiteeing a subsidy of £ for £ of capital sub. iribed by the publicfacts tbat may be gei .rally accepted as sti ong elements in support of the bona fides, and decided ultimate su oeis of the venture, in addition to which a urther and liberal con« cession has been' made in granting the company right to 600 feat in #j Ith oa either side of the entire lengtn of the pmposed tunnel outside of vested interests, and! at nine distinct and separate lines of goli»bearing reef tn verse tbe company's claim ale. right angle, or thereabouts, apart from j_ny otbers not visible, wbich by reasonable inference may bo met witb, it may be fainy characterised as a highly promising spaeillation. A still further addition to the anticipated profits is represented by a tariff on hiulage for other com* panics, estimated at, bay, 10 per cent over wotking expenses. _ j There is a distance tof three-quarters of a mile of unoccupied land from the ' starting point, through which. Several of the known lines of reef traverse. | The company proposejto 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, Mid thereby intersecting a perfect network of gold-bearing reefs j a number of which bay* been partially worked on the surface only, but with payable results, whiob, on the extension of the pro» posed tunnel would be at once turned to profitable account, ss many of them would be tapped at depths ranging from 1500 fee! downwards from the < atcrops, ensuring an unlimited supply of goi Iboarjng stone, which by a thus reduoed cost af production cannot, in the opinion of ,tb i projectors, fail to leave a very handsome nargin of profit. The Golden Fleece '. Extended Gold Mining Company, whose lei se is on the proposed line, are at present ra sing stone from the low level, 700 feet bel< r the outcrop, giving tha handsome return if two ounces to the ; ton, wbich is tbe best et obtained from tbe mine, and may be ace pted as indicative oi the accuracy of a vi ry prevalent opinion " that the richness of mr quartz lodes increases with their dept ." The maximum of C dis will be One Penny per share per month, bus affording an op* portunity to all class s of participating in the venture by the li litatiou of liability to a minimum, A fifteen-rhead stan per battery ig erected immediately ooniigu. us to the tunnel's mouth, available for crushing any« stone obtained. ' As a mining specuh tion, it presents direct and prospective ad antages seldom met with in kindred ventu bs, as illustrated by tbe combination referred ' >, and still further by reoent statistics furni bed to the New Zealand Government, she uring that 108.188ozs. of gold, the yield of li 5,862 tons, represents ing an average of 13 wta 19 gre., or nearly 14 dwts per ton have been obtained by the various company's thai have been, and are at work on the lines of reief proposed to be intersected. Taking tba money value per ton £2 12s Bd, a clear prom of £1 ss, per ton can be secured, allowing thf cost of production to be divided thug^crusblng by waer power, ss. per ton } cost of miaing stone, 10s 6d. per ton j wear, tear, management, and contingencies, 12s 6d. Total, £1 7»Bd, leaving a balance of £1 0s to be < iivided as profit. In conclusion, the p ejectors with every confidence assert that a nore genuine mining venture, and One posse ising the same cio a meats to aebieve eueees! has eeldoi»» if ever, been put on tbe market. PROSPECTUS AI D FORMS OF APPIICATIONti FOB SHARES TO BE OBTAINED FROM TME UNDERSIQNEEL fENEY Gisl HANKIN, % Secretary. CBAKLES H,kI)WAKI>S, STOEEKEEPER Black's Pbint. -I GOoPS PACKED TO ALL PARTS OF THS BIRJCT,