Page 3 Advertisements Column 2

Inangahua Times, Volume II, Issue II, 4 June 1880, Page 3

PROSPECTUS or thb TNAFGAHUA LOW LEVEL TUN■L NEL GOLD MISI^G COMPANY, LIMITEIk REEFTON. • I CAPITAL ... L ... £12,000 I In 24000 Shares >f 10s. Easb. | To BE ReGISTEBED TO )BBTHBpßorrslON* of " Thb Minin Act-i, 1872." Calls limited to One Penny per Month, with a deposit of Tim Pence per Share on Apph nation, PROVISIOSTAL DIRECTORS. Robebt Oxranr P itbick Bbbnnan Tohk Tbbkmtbbt Gbobob Wisb Wilmam Gabdneb C babies Fbaseb fiMßs CovixoiiT B , K. GiritiNß P. Q. CAPIBS J ATHEW PTBNI Fbane Hamilton J iseph Kitaocs Bankibs : . BANK OF NEW ZEALAND. SoLiqiToß : JAMES LYfCH, E^q. HENRY GE<l HANKIN. OBJECTS OF TBE COMPANY. In submitting the proposed undertaking for the approval of the general publio, and more especially the | inhabit»nts of the district, whose interests] must necessarily be directly benefited by t* impulse given to a further d«relopment of Itbe hidden wealth of the field, and as « sAuence the increased circulation of «pital foeallf, the projectors have every confidence In its successful iswe —which in the fi.st plsjee may be attributed in ftverj Urge degree th the widely expressed opinions of ft variety of experts— first among whom may be mentioned the name of Dr. Hector, Government Minerologist, &c. who says, tbat 1 * the eonstru ition of such a tunnel oinnot fa.i\ to intersectlnmnerou 4 golden and i other valuable metallic UodfS ; the local min» erological products of the neighbourhood fully justifying the assnmption of their exstence in well-defined Istrata at a depth ob-* tamable by the proposed scheme," Secondly : By the immeasurably superior advantages of profitably working mafy lines o' reef now in abeyance by teason of this exceptionally high rates attending the production of otherwise payable (tone by companies of limited capital ; thirdly— lrom the fact! of the Government recogniting "at the ilstance and recotn« mendation. of their Engineers " th« importance and value of the work, m a means to a great publio good, by guarantying a subsidy of £ for £ of capital subscriisd by tha publio— facts that may be generJly accepted as stiong elements in support of the bona fldes, and | decided ultimate succesV ot the venture, in addition to which s farmer aiid liberal cohk cession has been made in (ranting the company right to 600 feet in widthlon either side of the entire length of the proposed tunnel outside of vested interests, and as nine distinct and separate lines of gold>b4aring reef traverse the company's claim at a light angle, or thereabouts, apart from any! others not visible, which by reasonable inference may bo met with, jt may be fairly Aiaracterized as a highly promising speculatiln. A still further addition to the anticipated torofits is represented by a tariff on baulafe for other com* panies, estimated at, say, uO per cent o»« working expenses. I There is a distance of tjlree-quarters of a mile bi unoccupied land from the starring point, through which sev^rll of the known lines of reef traverse. I The company propose to drve a tunnel from the right to the left hand brlnch of the Inangahua river, a through diltance of some two and *-h»lf milee, and thireby intersecting a perfect network of gold-bearing reefs ; a number of which have been Martially worked on the surface only, bat Will payable results, whioh, on thft extension of the pro* posed tunnel would be at opce turned to profitable account, et many if them would be tapped at depths ranging from 1500 feet downwards from the outcrop!, ensuring an unlimited supply of gold b«ari|g stone, which by a thus reduced cost of profiuction cannot, in the opinion of the prilectnrs, fail to leave a very handsome margin of profit. The Golden FJeece Extended Gold Mining Company, whose lease is |n the proposed line, are at present raising atone from the lon level, 700 feet below thajoutcrop, giving the handsome return of twf ounces to the ton, whioh is the best yet obtained from the mine, and may be accepted pis indicative ot the accuracy of a very prf talent opinion " that the richness of our quartz lodes increases with their depth." 1 The maximum of Calls wfl be One Penny per share per month, thus .affording an opportunity to all daises of participating in the venture by the limitaticli of liability to a minimum. I A tlfteen-head stamper htttery is erected immediately contiguous ti the tunnel's mouth, available for orasping any stone obtained. I As a mining speculation, a pre ents direct and proipeetive advantams seldom met with in kindred ventures, astllustrated by the combination referred to, and still further by recent statistics furnished io the New Zea> land Government, showing! that 108,188ozs. of gold, the yield of 156,862 tons, representing an average of 13 dwtg D.9 grg., or nearly 14 dwts. per ton have beef obtained by the various company's that haw been, and are at work on the lines of reef proposed to be intersected. Taking the mdhey value per tou £2 12s Bi, a elear profit of j£l ss. per ton can be secured^ allowing the con of production to be divided thus — crushing! by wa er power, Ss. per ton ; cost of, raising stoce, 10s 6d, per ton ; wear, tear, management, and contingencies, 13s 6d. Total, £1 7< Bd, leaving a balance of £1 5s to be diwded as profit. In conclusion, the protestors with every confidence assert that a more genuine mining venture, and one possessing the same elements to achieve success pas seldom, if ever, been put on the market, j PROSPECTUS AND FORMS OF APPLICATIONSWOR SHARES 'IO BE OBTAINED FROM TEE UNPERSJGXEm EENiqr geSJhankin, Secretary. OH4KLES H, STO BE KEEPER Black's Point. GOODS PACKED TO ALL PARTS ' 0? THE .DIKICf,