Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 2 July 1880, Page 3

PROSPECTUS cF THE TNArGMTITA LOW LEVEL TUX--L NKL GOLD M I .N 1 E -N G CO VI - PAiNY, LIMITED, KISKFi'ON. CAPITAL ... ; £l2oo ° In 21000 Sunles of 10s. Kmh. TO BE EEGISTEKCTpND^™ 13 P* =VI«IOW« of " The MiJjing Companies' Acts, 1872." ] . t Calls limited to \ne Penny pei' Month. Kith a deposit of \ioo Pence per Share on Jflphcati'Jti provision Tl 'directors. Robert Oxusy Patuick Bhennan John Tbrnnbrt Gbobob wpg William Gardne Chabwss Frvseb James Connolly M. B. Gulltxe P. Q. Caples Mathew I<yene Fbakk Hamilton Joseph Kjlgoub Uai kee^ : i BANK OF JN £W ZEALVKD. Soliciti.k: ; JAMES Lp CH, Esq. Sechetary : HENEY GIEO. lIAJSKIN". OBJECTS OF THE COMPANY. In submitting the proposed undi-rtaking for the approval of he' geneml public, and more especially tin inhabitants of the district, whose int^re >b must neces«arily be directly benefited by ;he impulse given to a further development < f the hidden wealth of the field, and as a iequenee the increased circulation of capital local iy, the projectors have every confidencp in its successful issue —which in the first mace may be attributed in averj large degreejto the widely expressed opinions of a variety Jof experts — first among whom may be mentioned the namo of Dr. Hector, Government iMinerologist, &c. who says, that " the constri ftion of such a tunnel cannot fai\ to intersec ; numerous golden and other valuable metallii lodts; the local miv« erological products < f the neighbourhood fully justifying the ai lumption of th ir exstence in well-dufinec strata at a depth obtainable by the proposi d scheme." Secondly : By the immeasurably superior advantages of profitably working m ny lines o<" reef now in abeyance by leuson ol the exceptionally high rates attending the p -oduction of otherwise payable stone by compi niesot limited capital ; thirdly— from the fa< t of the Government recogniting "at the instance and recotn» mendation of their En( ineers " the importance and value of the work, as a means to v great public good, by guaran :eeing a subsidy of £ for £ of capital subec ibed by the publicfacts that may be gene ally accepted as stiong elements in support c f the lona fides, and decided ultimate suoi ess ot the venture, in addition to which a f irther and liberal con» cession has been mads i 3 granting the company right to 600 feet in wic th on either side of the entire lengtli of the pr< posed tunnel outside of vested interests, and as nine distinct and separate lines of gol< "bearing reef traverse the company's claim a a right angle, or thereabouts, apart from my others not visible, which by reasonable i iference may bo met with, it may be fail Iy characterized as a highly promising speci lation. A still further addition to the anticip tted profits is represented by a tariff on hiulage for other com« panics, estimated at, cay, 10 per cent over working expenses. There is a distance of three-quarters of a mile of unoccupied 1 nd from the starling point, through which several of the known lines of reef traverse. The company propoi c to drive a tunnel from the right to the left hmd branch of the Inangahuu river, a thro igh distance of some two and a-lialf miles, and thereby intersecting a perfect network if gold-bearing reefs ; a number of which hat c been partially worked on the surface only, >ut with payable results, which, on tlio extension of the proa posed tunnel would b* at once turned to profitable account, Bsjmany of them would be tapped at depths Janging from 1500 feet downwards from the joutcrops, ensuring an unlimited supply of gold bearing stone, which by a thus reduced cosn of production cannot, in the opinion of tie projectors, fail to leave a very handsomelmargin of profit, The Golden Fleece Extended Gold Mining Company, whose lelse is on the proposed line, are at present rating stone from the low level, 700 feet below the outcrop, giving the handsome return ol two ounces to the ton, which is the best ylt obtained from the mine, and may be accented . as indicative ol the accuracy of a veri prevalint opinion " that the richness of our quartz lodes increases with their depth. 1 ! The maximum of Cale will be One Penny per share per month, thjis affording an opportunity to all classes |of participating in the venture by the limitation of liability to & minimum. A lifteen-head stamper battery is erected immediately contiguous; to the tunnel's mouth, available for crushing any stone obtained. ' 5 As a mining speculatioi ,, it presents direct and prospective ad van ages seldom met with in kuidred ventures, is illustrated by the combination referred to, md still further by recent statistics furnishei to the New Zea« land Government, showing that 108,1880z3. of gold, the yield of 156,8 J2 tons, representing an average of 13 dwt > 19 grs., or nearly 14 dwts. per ton have be m obtained by the various company's that h we been, and are at work on the lines of reef proposed to be intersected. Taking the n oney value per ton £2 12s Bd, a clear profit o ' £1 ss, per ton can be secured, allowing the ci st of production to be divided thus — crush in f by wa'er power, ss. per ton ; cost of raising stone, 10s 6d, per ton ; wear, tear, management, and contingencies. 12s 6d. Total, £1 79 Bd, leaving a balance of £1 5s to be divided as profit. In conclusion, the projectors with every confidence assert that a more genuine mining venture, and one possessing the same elements to achieve success has seldom, if ever, been put on the market. PROSPECTUS AND FORMS OF APPLICATIONS FOR SHARES TO BE OBTAINED FROM THE UNDERSIGNED. HENRY GEa J^ANKIN, Secretary. CHARLES H. KDWAKDS, STOEEEEEPER Black's Point. GOODS PACKED TO ALL PAFvTS OF THE DIUICT,