Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 18 June 1880, Page 3

PROSPECTUS CF THE INA^GAIIUA LOW LJJVKL TUNKEL GOLD ftim.NO COMPANY, LIMJTRD, RffiEFiO^. CAPITAL £12,000 j In 24000 Shares of 10 .Ea jh. To be Registered ttsdeb ti e Pb' vmons of " Tkb Mijiiing Com panies' Act*, 1872." Calls limited to Cne PenAy per Month, | with a deposit of Two Pende per Share on Application PROVISIONAL DIRECTORS. Robert Oxlbt Patrkk Bbbnnak John Tbenkbbt GeoegJb Wise William Gardner ChablJes Fiuser - James Connolly R. K. (Bulline P. Q. Oaples Mathlw Fyrne Fbakk Hamilton Joseph Kjlqous Bankebs :l BANK OF NEW ZEAL \ND. „ Solicit* Bf JAMES LYN C Hi E-q. Secretary I HENBY GKO. hKNKTX. OBJECTS OF THE COMPANY. In submitting the propd'od und-rtakirg for the approval of tbe general public, and more especially the inhpbJlantß of the district, whose interests must necessarily be directly benefited by the itftpuls^ given to a further development of tlielhidrlen wealth of the field, and as a sequence the increased circulation of capital locafy, the projectors ; have every confidents in ifls successful issue —which in the first place pay be attributed in averj large degree to tbp widely expressed opinions of a variety of exjperts— first among whom may be mentioned! the name of Dr. Hector, Government Minarologist, &c. who says, that' 1 theconstru'tioti of such a tunnel cannot faU to intersect ntauerou- golden and other valuable metallic lod'-s ; the local min» erological products of the neighbourhood fully justifying the assumption of their exstence in well-defined stsata at a depth ob- | tainuble by the proposed sememe." Secondly : ' By the immeasurably suderior advantages of profitably working many lines o>" reef now in abeyance by leason of th© excepiionally high rates attending the production of otherwise payable stone by companies of limited capital ; .thirdly— r rom the fact of the Government recognising "at the instance and recoin« mendation of their Engineers " the importance and value of the work, asla means to a great publio good, by guaranteeing a subsidy of £ for £ of capital subscribed by the public— facts that may be general y accepted as stiong elements in support of the bona fides, and decided ultimate succes ot the venture, in addition to which a furtier and liberal cons cession has been made in g 'anting the company right to 600 feet in width on either side of the entire length of the propo sed tunnel ouiside of vested interests, and ae nine distinct and separate lines of gold»bi aring reef traverse the company's claim at a i ight angle, or thereabouts, apart from ani 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 com* panies, estimated at, eayj 10 per cent over working expenses. ] There is a distance of hree-quarters of a mile of unoccupied land from the stnrting point, through which sevsral of the known lines of reef traverse. Tho company propose to Jrive a tunnel from the right to the left hand branch of the Inangahua river, a through distance of some two and a-balf miles, and thereby intersecting a perfect network of fold-bearing reefs ; a number of which have been partially worked on the surface on'y, but jwith payable results, which, on the extension of the pros posed tunnel would be aa once turned to profitable account, 98 maily of them would be tapped at depths ranging from 1500 feet downwards from the outctops, ensuring an unlimited supply of gold btimng stone, which by a thus reduced cost of production cannot, in the opinion of the nrojectors, fail to leave a very handsome margin of profit, The Golden Fleece Extelded Gold Mining Company, whose lease is on the proposed line, are at present raising! stone from the low level, 700 feet below the outcrop, giving the handsome return of two ounces to the ton, which is the best yet drained from the mine, and may be accepted! as indicative of the accuracy of a very prevalent opinion " that the richness of our quartz lodes increases with their depth." j The maximum of Calls will be One Penny per share per month, thus Affording an opportunity to all classes of participating in the venture by the limitation of liability to a minimum. \ A nTteen-bead stamper bat ery is erected immediately contiguous to the tunnel's mouth, available lor crua'ii ig any etone obtained. As a mining speculation, it >re?ents direct and prospective advantages seldom met with in kindred ventures, as ill istrated by the combination referred to, and i till further by recent statistics furnished to the New Zea» land Government, showing th t 108,1880z3. of gold, the yield of 156,862 to is, representing an average of 13 dwts 19 ;rs., or nearly 14 dwts per ton have been ot taiued by the various company's that have b< en, and are at; work on the lines of reef propo led to be intersected. Taking the money value per ton £2 12s Bd, a clear profit of £1 5 i, per ton can be spcured, allowing the cost of production to be divided thus — crushing by wa er power, ss. per ton ; cost of raising i toce, 10s 6d, per ton ; wear, tear, managemei t, arid* contingencies, 12s 6d. Total, £1 7s BJ, leaving a balance of £1 5s to be divided is profit. In conclusion, the projector with every confidence assert that a more g anuine mining venture, and one possessing ' he same elements to achieve success has e )ldom, if ever, been put on the market. PROSPECTUS AND 1 'ORMS OF APPLICATIONS FO. i SHARES' TO BE OBTAINED . ?ROM TEE UNDERSIGNED. HENRY GEO. H LNEIN, Secretary CHAtILEti H. liIWAKD^ STOEEKEE :»ER Black's Poiii. GOODS PACKED TO ALL PARTS OF THE DIKICr,