Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 21 June 1880, Page 3

PROSPECTUS OV THB TN ANGAHUA LoW LEVEL TUN--1 NEL GOLD MLNIISG COMPANY, LIMITE ), REEFION. CAPITAL w "" m(m In 24000 Shares of 10s. Eash. TO BB BeOIWBBED TTN )BB THB PboTIsIONS OF " THB MINIS' KCoMtASWs' ACTS, 1872." Calls limited to One Penny per Month. teith a deposit of Tw Pence per Sha re on, AppU nation, PROVISIONAL DIRECTORS. Robust Owbt f wbick Bbbnnan John Trbkkbhy eo* oß w isb WItMAM GABDNBB CHABiBS F843E8 JiKBiCoKNOMT H.K.GULHNB P.Q.CAI»tB 8 * * THEW / TB^ Fbasx Hamilton JbsBPH Kiigoub BaXKIB* : BANK OF NEW ZEALAND. SotiqiToE s JAMES LYKCH, Es<q. Secbctabtj HENRY Qlj<|._HAMmy. OBJECTS OF THIS COMPANY. In submitting the broposed underUking for the approval of tHe general public, and more especially the! inhabitants of the district, whose intftfes* mu»t necesianly be directly benefited by the impulse given 1 to • further development of the bidden wealth of the field, and as a sfequenee the mcreased circulation of capital] locally, the projectors have every confidence' in its successful issue —which in the first place may be attributed in averj large degree (to the widely expressed opinions of a variety bf experts—first among whom may be mentimed the name of Dr. Hector, Government Minerologist, Ac., who mts, that 1 * the constriction of such a tunnel osnnot foi\ to intowedt numerou* golden and other valuable metallfc lodes 1 the local mm» erological products bf the neighbourhood fully justifying the assumption of their exstence in weU-defiwtt strata at a depth obtainable by the propofed scheme." Secondly : By the immeasurably superior advantages of profitably working many lines o* reef now in abeyance by icason of the exceptionally high rates attending thelproduction of otherwise payable stone by eonjpamesof limited capital j thirdly — from the fact of the Government recognising "at thp instance and recom* mendation of their Engineers" the imfjoviiHice and value of the work, as a means to » great public good, by guaranteeing a subsidy of £ ■or £ of capital sutscribed by the publicfacts that may be generally accepted as stiong elements in support of the bona fide*, and decided ultimate success of tbe venture, in addition to which » further and liberal concession has been male in granting the company right to 600 feet in (width on either side of the entire lengtti of theiproposed tunnel outside of vested interests, ahd as nine distinct and separate lines of |old«bearing reef traverse the company's daiw at * right angle, or thereabouts, apart frofa any others not visible, which by reasonable inference may be met with, it may beffairly characterized as a highly promising speculation. A still further addition to tbe anticipated profits is represented by a tariff ob haulage for other com* panics, estimated rat, «ay, 10 per cent over working expense*.! There is a dwWnoe of three-quarters of a mile of unoccupied land from the starting point, through Jwiich several of the known lines of reef travtwe/ The company pi opose to drive a tunnel from the right to the li ft hand branch of the In* angahua river, • hrough distance of some two and a-half tn les, and thereby intersecting a perfect net* ork of gold-bearing reefs f a number of whio have been partially worked ob the surface o ily, but with payable results, which, on the extension of the pro* posed tunnel wou d be at once turned to profitable accoun ,ss many of them would be tapped at depl is ranging from 1600 feet downwards from 1 the outcrops, ensuring an unlimited supply f gold-beariog stone, whioh by a thus reducec cost of production cannot, in the opinion f the projectors, fail to leave a very hand tome margin of profit, Tbe Golden FlUce Extended Gold Mining Company, whose lease is on the proposed line, are at present raising stone from the low level} -700 feed below the outcrop, giving the handsome return of two ounces to the ton, whioh is the test jet obtained from the mine, and may bel accepted as indicative of the accuracy of a very prevalent opinion " that the richness of our quarts lodes increases with their depth." The maximum df Calls will be One Penny per share per monOi, thus affording an opportunity to all ofcsses of participating in ' the venture by that limitatiou of liability to \ a minimum. I A fifteen-head slsoiper battery is erected' immediately contiguous to the tunnel's mouth, available fcr crushing any stone obtained. I As a mining speculation, 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' furnished to the New Zea* land Government, snowing thai 108,188o». of gold, the yield of 1166,862 tons, representing an average of IB dwts. 19 grs., or nearly 14 dwts. per ton have been obtained by the various company's tlat have beep, and are at work on the lines of wlef proposed to be intersected. Taking me money value per ton £Z 12» Bd, a clear profit of £1 ss, per ton can be secured, allowing she cost of production to be divided thus— crwhiog by water power, 6s. per ton 1 cost of I wising stone, 10s 6d, per ton 1 wear, tear, management, and contingencies, 12s 6d. Totil, £1 i» Bd, leaving a, balance of £1 Ss to ba divided as profit. In conclusion, the projector* with every confidence assert that I more genuine mining venture, and one possessing the same ele« ments to achieve success has seldom, if ever, been put on the market, PROBPECTUB jin FOE MS OF application} foii shares to bm obtained mrom tujc UNDM&BIG&E& HENRY GEOI HANKIN, Secretary. CHARLES H. USDWA.KDS, STOEEKEfE PER Black's Point. GOODS PACKED TOiALL PARTS OF THE DIftlCT.