Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 9 June 1880, Page 3

PBOSPECTUS O? THE Inafgahtja low levkl tun. kel| gold hiding com. PAU/yJ LIMITED, REEFfOX. CAPITAL! ... ■ 012,000 In 24f00 Suares of 10a. Ea ih. TO BE ijBCpTEBE© .TTNfIBR THE PEr.VrsiONS of " Tse Minis© Companies' Acts, 1872.'|. Calls linked to One Penny per Month, with a deposit of Two Pence per Share I on Application. FROWSIONAL DIRECTORS. Robeet Oxiey Patrick Bbennan John Tblnnebt George Wisb Wilil.iam|Gabdneb Chables Feuseb James CdNNOLiY R- K. Gdhine P. Q. CAtLBS M.ATHEW FyBNB Fbank Hamilton Joseph Kilgqvr I Bankebs : BANK OF NEW ZEALAND. I SOLICITOB : TAMES LYNCH, E q. j SEeBETAUT : HENRY GEO. HANZIN. OBJECTS OF THE COMPANY. In suqmitting the proposed und''rtaltir,g for the approval of the general public, and more especially the inhabitants of the district, Whose interests muft necessarily be directly 1 enefited by the impulsp given to a further d velopment of the hidden wealth of the field, and as a sequence the increased eirculatio 1 of capital locally, the projectors have we y confidence in its s successful issue —which a the first place may be attributed in a verj arge degree to the widely expressed opinions >f a variety of experts — first among whom m y be mentioned the namo of Dr. Hector, ( overnment Mineralogist, &c. who says, that '* the construction of such a tunnel otnnot fa I to intersect numerou* golden and other vftli able metallic lodes ; the local mini* erological products of the neighbourhood fully just fying the assumption of their exste&ce in well-defined strata at a depth obtainable t f the proposed scheme." Secondly : By theii measurably superior advantages of I profitably working many lines o f reef now in abeyance by reason of the eice'ptionallv high rates att nding the production of otherwise • payable st me by companies of limited capital ; thirdkwf om the fact of the Government recognitiu ; "at the instance and re com" mendatioi of their Engineers " the importance and value of the movlt, as a means to a great public go< 3, by guaranteeing a subsidy of £ for £ of cfcpital subscribed by the publicfacts that Imay be generally accepted asstiong elements in support of the lona fide*, and decided ultimate success ot the venture, in addition tl which a further and liberal cons cession haslbeen made in granting the company right to 60v feet in width on either side of the entire length of the proppsed tunnel outside of Vested interests, and as nine. jdiftitict and separate lints of gold-bearing reef traverse the fiompanV's claim at a right angle, or thereabouts, apart from any others not visible, which by rnsonable inference niay ba met with, it mly be fairly characterized as a highly promning speculation. A still further addition to tie anticipated profits is represented by a tailff on haulage fpr other com* panies, estimated at, eaj, 10 per cent over working expenses. There is a ligtanoe of three-quarters of a mile of unoccupied land from the starting point, through Which aeyeral of the known lines of reef trwerse. The company wropose to drive a tunnel from the right to the left hand branch of the In' angahua river, a through distance of some two and a-balf miles, and thereby, intersecting a perfect network of gold-bearing reefs $ a number of whicli have been partially worked on the surface ot ly, but with payable results, which, on :hn extension of the pros posed tunnel won) i be at once turned to irofitable accouni , as rcany of them would be tapped at dept is ranging from 1500 feet downwards from the outcrops, ensuring an unlimited supply < f golafb^aririg stone, which by a thus reduced cost of production cannot, in the opinion <jf the projectors, fail to leave a very handpome margin of profit. The Golden Flbece Extended Gold Mining Company, wh se lease is on the proposed line, are at prese it raising stone from the low level, 700 fee below the outcrop, giving jtne handsome re urn of two ounces to the ton, which is tbe beet yet obtained from the mine, and may b accepted as indicative of the accuraoy of 1 very prevalent opinion " that the richnei s of our quartz lodes increases with their depth." The maximum of Calls will be One Penny per share per mt nth, thus affording an opportunity to all classes of participating in the venture by the limitation . of liability to a minimum. J A lifteen^-head (tamper battery is erected immediately oom iguous to the tunnel's mouth, available for crushing any stone obtained. As a mining ep< culation, it presents direct and prospective advantages seldom met with in kindred vt ntures, as illustrated by tbe combination referi sd to, and still further by recent statistics fprniahed to the New Zea« land Government] showing that 108,188ozs. of gold, the yield pf 156,863 tons, representing an average ofl 13 dwts 19 grs., or nearly 14 dwts per ton liave been obtained by the various company'* that have been, and are at work on the lineajof reef proposed to be intersected. Takinr the money value per ton £2 12s Bd, a cleaij profit of £1 ss, per ton can be secured, allowing the cost of production to be divided thue-icrushing by wa er power, sb. per ton ; costj of raising etoce, 10s 6d, per ton ; wear, tefer, management, and contingencies, 12s 6d. {Total, £1 7s Bd, leaving a balance of £1 5s Jto be divided as profit. In conclusion, Jthe projectors with every confidence assertjthat a more genuine mining venture, and oni possessing the same elements to achieve J euccess has seldom, if ever, been put on the Jnarket. PROSPECTUS AND FORMS; OF APPUCAWIONS FOR StfA&ES TO BE OBTAINED FROM TEE UNDERSIGNED. HENRYIGEa HANKIN, Secretary. OHAKLHS H/jtfJWAKJjS, STOEEKEE PER Black's Point. GOODS PACKED TO ALL PARTS OF THE PIHICf,