Page 3 Advertisements Column 2

Inangahua Times, Volume II, Issue II, 7 June 1880, Page 3

PBOSPEtfTUS op the/ TNAFGAHUA LOW/LEVEL TUN- -*- NEL GOLD MOIING COMPANY, limited] reefion. CAPITAL ,„ J, ... £12,000 In -24900 Shares df 10*. Easb. To BE EEGISTEBE© TTNIIEHTHE Pflf Vr*!ONof " The MiuiKd Companies' Act*. 1872." j Calls limited to One Wenny per Month with a deposit of TwciPenee per Share on Application. PBOVISIOFAUDIItECTORS. ROBEBT OxiEY PITniCK BbENNAN •John Tbenneby G sobge Wisb WIMJAM GAHDNEH C IAELEB FRASEB Jambs Connolly TX K. Gulline P. Q. CAPLES It ATHEW PyBNE Fbank Hamilton J seph KiLpotra Bankibs : * BANK OF NEU ZEALiND. SOLKXTOB : JAMES LYicH, E>q. , SECgEUIBy: HENEY GE(T HArfKIN. OBJECTS OF THE COMPANY. In submitting the proposed undertaking for the approval of tae general public, and more especially the! inhabitants of the district, whose interefltf must necessarily be directly benefited by tie impulse given to a j further development of the hidden; wealth of the field, and as a sfquence the increased j circulation of capital jlocally, the projectors* have every confldenfflpo its successful isnue which, in the Seat ppce , may be attributed in a very large degreelo the widely expressed opinions of a variety if experts — first among j !jpb.om may b© menti ned the namo of Dr. aector, Government if inerologist, &c- who says, thM'; the constrj ition of such a tunnel Cinnot fail to intersec numerou* golden and other valuable metalli lodes ; the local mine erologieal products j f the neighbourhood fully justifying the a! lumption of itteir exstencs in well-defiael strata at a depth obtainable by the propowd scheme." Secondly s By the immeasufabjjl superior advantages of profitably working many ljnea of reef now in abeyance by leason n the exceptionally high rates attending the.production of otherwise payable stone by comf anies of limited capital ; thirdly— from the Act pf the Go vernmenf reeogniting "at tli» initanoe and r«Gom» mendation of tbeir Elgineers " the importance and value of the work, as a means to a great public good, by guarf|teeing a subsidy of £ for & of capital suhlcribed by the public — facts that may be gefe|ally accepted as stiong elements in support of the #<?»« fides t and decided ultimate success ot the venture, in addition to which % further and lib?ral con» cession has been made in granting the cfignpany right to 600 feet inViiifth on either side of the entire length of the proposed tunnel outside of vested interests, and as nine distinct and separate lines of gold-bearing reef traverse the eooipany'g claim it a right angle, or thereabouts, apart from any others not visible, which by reasonable inference may bo met with, it may be fairly characterized as a highly promising speculation. A still further addition to the anticipated profits is represented by a tariff on haulage for other corn* paniea, estimated at,? say, 10 per cent over working expenses. There is a distance of three-quarters of a mile of unoccupied land from the starting point, through which several of the known lineo of reef traverse, Tb» oompany propose to drive a tunnel from the right to the left hand branch of the Inangahua riTer, a through distance of some two and a~half miles, an! thereby intersecting a perfect network of gold-bearing reefs ; a number of which have b|en partially worked on the surface only, but! with payable results, which, on the extension of the pro* posed tunnel would be at once rurned to profitable account, ss maiy of them would be tapped at depths ranging from 1500 feet downwards from the outArops, ensuring an unlimited supply of gold blaring stone, which by a thus reduced cost of production cannot, in the opinion of the projectors, fail to leave a very handsome maifein of profit. TbeQ-olden Fleece Extfoded Gtold Mining Company, whose lease Is on the proposed Hue, are afc present raisins atone from the loir level, 700 feet below tl c outcrop, giving the handsome return of t voi ouncts to the ton, which is the best yet < btained from the mine, and may be accepts as indicative of the accuracy of a very j reyalent opinion " that the richness of our juartz lodes in~. creases with their depth." The maximum of Galls 1 ill be One Penny per share per month, thus affording an opportunity to all classes 0 participating in the venture by the limitat; inj of liability to a minimum. : A lifteen-head stamper lattery is ereoted immediately contiguous 0 * the tunnel's mouth, available for crui h(ng any stone obtained. ' As a mining speculation, t preents direct and prospective advanta< >s seldom met with in kindred ventures, as illustrated by the combination referred to, am still further by recent statistics furnished 0 the New Zealand Government, showing that 108,1880z3. of gold, the yield of 156,862 tons, representing an average of 13 dwts 9 grs., or nearly 14 dwts. per ton have been obtained by the various company's that hay been, and are at work on the lines of reef pr posed to be intersected. Taking the aoi By value per ton £2 12s Bd, a clear profit of i 1 ss. per ton can be secured, allowing the cost of production to be divided thue—r-crushing >y wa er power, ss. per ton ; cost of raisin; store, 10s 6d, per ton ; wear, tear, maDagei lent, and contingencies, 13s 6d. ' Total, £1 7s Bd, leaving a balance of £1 5s to be dirid d as profit. In conclusion, the projec ors with every confidence assert that a mor< genuine raining venture, and one pos»essin( the same elements to achieve success ha seldom, if ever, been put on the market. PROSPECTUS AND FORMS OF APPLICATIONS Fi )R SHARES 10 BE OBTAINED FROM THE UNDERSIGNED. HENRY GEa IANKIN, Secretary. OHIoiIEriTISWAKJJs", STOKEKEEfPER Black's Poirit. GOODS PACKED TO ALL PARTS -Of^e Biiqcr,