Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 16 June 1880, Page 3

PROSPECTUS OP THE INAi. GAHUA LOW L-.V..L TUN NKL GOLD MINING COMPANY, LIMITKD, REKFION. CAPITAL £12,00( In 24000 Shares of If)-. Ea sh. To be Registered under the Pb< vrs ion of " Thb Min_-.g Cc/mfasies' Acis 1872." j Calls limited to One Phmy per Month with a deposit of Two Pence per Share on Application. PROVISIONAL IIRECTORS. ROBEHT Ox-EY " ?AT ..CK BBENNAN John Teenneby Gecbge Wise William Gardner Chj eles Fk_ser James CoNNofctY E. I). Gdliinb P. Q. Caples Ma 'hew Pyrne Fbakk Hamilton Jos iph Kilgoob Banker? : BANK OF NEW ZEAL \ND. SoL-CI-Jiß : JAMES LYNJW, E Q. Secretary : HENEY GEO. IH AN KINOBJECTS OF TH _ COMPANY. In submitting the pi .posed undertaking for the approval of tbe general publio, and more especially the nbabi'ants of the district, whose interests must necessarily be directly benefited by the impulse given to a further development of t ie hidden wealth ol the field, and as a seq tence tbe increased circulation of capital lo.al'y, the projectors havi; every confidence in its successful issue —which in tbe first piac , may be attributed in averj large degree to tbe widely expressed opinions of a variety of experts — first among whom may be mentioni d the namo of Dr. Hector, Govornraent Mi nerologist, &c. who says, that '* the constru Hi an of such a tunnel oinnot fai- to intersect i tamerou* golden and other valuable metallic 1 id* -a ; the local min*erological products of tbe neigbbourhood fully justifying the a.sn nption of iheir ex- | stence in well-defined . .rata at a depth obtainable by the proposed icheme." Secondly: ! By the immeasurably si perior advantages of profitably working man; lines o f reef now in abeyance by leuson of ti.e exceptionally high rates attending the proi luetion of otherwise payable stone by compani es of limited capital ; thirdly— from the fact of the Government recogniting "at the in itance and recom. mendation of their Engin .ers " the importance and value of the work, af a means to a great public good, by guarantei ing a subsidy of £ for £ of capital subecrib.d by the publicfacts that may be generally accepted asstiong elements in support of ihe bona fides, and decided ultimate succesi ot the venture, in addition to which a furtb.r and liberal con» cession bas been made in g .anting the company right to 600 feet in width on either side of the entire length of the proposed tunnel outside of vested interests, and as nine distinct and separate lines of gold*!)' iaring reef traverse the company's claim at a ight angle, or there* abouts, apart from an * other* not visible, which by reasonable infe fence may be met with, it may be fairly characterized as a highly promising speculation. A still further addition to the anticipatad profits is represented by a tariff on haulage for other companies, estimated at, sap*, 10 per cent ovftr woiking expenses. j There is a distance c . three-quarters of a mile of unoccupied lan 1 from the starting point, through which 6 .veral of the known lines of reef traverse, The company propose o drive a tunnel from the right to the left hand branch of the Inangahua river, a through distance of some two and a-halfimiles, a id thereby intersecting a perfect network of gold-bearing reefs ; a number of which have been partially worked on the surface only, bit with payable results, whioh, on the c xtension of the proposed tunnel would be at once turned to profitable account, as riany of them would be tapped at deptbs ra iging from 1500 feet downwards from the o ..crops, ensuring an unlimited supply of gob [bearing stone, which by a thus reduced co.t .f production cannot, in the opinion of th' i projectors, fail to leave a very handsome i aargin of profit, The Golden Fleece } !xtended Gold Mining Company, whose leaje is on tbe proposed line, are at present raising stone from the low level, 700 feet belovthe outcrop, giving tbe hand.-ome return t( two ounces to the ton, which is the best y.t obtained from the mine, and may be accej ited as indicative of the accuracy of a ver r prevalent opinion " that tbe richness of oir quartz lodes increases with their depth,!' The maximum of Calls will be One Penny per share per month, taus affordiug an opportunity to all classes of participating in tbe venture by tbe litni ation of liability to a minimum. A fifteen-head stampe * battery is erected immediately contiguous to the tunnel's mouth, available lor crushing any stone obtained. As a mining speeulatio-i, it presents direct and prospective advantages seldom met with in kindred ventures, as illustrated by tbe combination referred to, and still further by recent statistics furnishedito the New Zea» land Government, showing! that 108,188ozs. of gold, tbe yield of 156,86^ tons, representing an averuge of 13 dwts 119 g.s., or nearly 14 dwts per ton have beor obtained by the various company's tbat hay > been, and are at work on the lines of reef pr (posed to be intersected. Taking tbe trotey value per ton £2 12s Bd, a clear profit of & 1 ss. per ton can be secured, allowing tbe cost of production to be divided thuf — crushing by wa er power, ss. per ton j cost of raiainj : stone, 10s 6d, per ton ; wear, tear, management,i nent, and contingencies, 12s 6d. Total, £1 7s Bd, leaving a balance of £1 5s to be divid ed as profit. In conclusion, the proje. tors with every confidence asaert that a mot 5 genuine mining venture, and one pos.essin » tlte same elements to achieve success hi a seldom, if ever, been put ou the market. PROSPECTUS AND FORMS OF APPLICATIONS IOR SHARES TO BE OBTAINEL FROM TEE UNDERSIGNED. HENRY GEO. pANKIN, Secretaijy. CHARLES H. iBWAIt-ji] STOREKEEPER \ Black's Point. GOODS PACKED TO ALL PARTS OF THE DIRICT.