Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 5 July 1880, Page 3

P R Q S PECTUS • , ' OF THE Inafg'ahua low lkvkl tunNKL GOLD MINING COM, PA NY, LIMITBD,- RBTEFrOtf. CAPITAL ». £12,000 -; 14 : 24000 Slmes of 10s. Ea;b. To be Registered itndrr the Pe' vrsioN< of " The M in iso Companies' Acts, ' 1872." Calls limited to One Penny per Month. Kith a deposit of Two Pence per Share on Application PROVISIONAL DIRECTORS. Robert Oxley Patrick Bbennan •John Trenneuy Geobge Wise William Gardner Charles Fuisee James Connolly R. K. Gulline P. Q. Caples Mathew Byrne Frank Hamilton Joseph Kilgoor Bankers : BANK OF NEW ZEALAND.Solicitor : JAMES LYxNCH, E-q. Secretary: HENEY GEO. UANKIN. OBJECTS OF THE COMPANY. „ In submitting the proposed undertaking for the approval of the general public, and more especially the . inhabitants of the district, whose interests must necessarily be directly benefited by the impulse given to a further development of the hidden wealth ol the field, and as a sequence the increased circulation of capital locally, the projectors have every confidence in its successful issue —which in the first place may be attributed in a verj large degree to the widely expressed opinions of a variety of experts — first among whom may be mentioned the name of Dr. Hector, Government Minerologist;, &c. wbo says, that •' the construction of such a tunnel, cmnot fai\ to intersect numerous golden and other valuable metallic lodc-s ; the local mm« erological products of the neighbourhood fully justifying the assumption of iheir exstence in well-defined strata at a depth obtainable by the proposed scheme." Secondly : By the immeasurably superior advantages of profitably working many lines o' reef now in abeyance by leason of tbe exceptionally high rates attending the production of otherwise payable stone by companies ot limited capital 4 thirdly— from the fact of the Government recognising "at the instance and recommendation of their Engineers " the importance and value of the work, as a means to a great public good, by guaranteeing a subsidy of £ for £ of capital subscribed by the publicfacts that may be generally accepted asstiong elements in support of the bona fides, and decided ultimate sucoess ot the venture, in addition to which a further and liberal con« cession has been made in granting 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«bearing reef traverse the company's claim at a right angle, or thereaboute, apart from any others not risible, which by reasonable inference may be 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« panics, estimated at, say, 10 per cent over working expenses. There is a distance of three-quarters of a mile of unoccupied land from the starting point, through which several of the known lines of reef traverse. The company propose to drive a tunnel from the right to the left hand branch of the Inangahua river, a through distance of' some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reefs ; a number of which have been partially worked on the surface only, but with payable results, which, on the extension of the pros posed tunnel would be at once turned to profitable account, as many of them would be tapped at depths ranging from 1500 feet downwards from the outcrops, ensuring an unlimited Bupply of gold-bearing stone, which by a thus reduced cost of production cannot, in the opinion of the projectors, fail to leave a very handsome margin of profit, The Golden Fleece Extended 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 twt) ounces to the ton, which is the best yet obtained from the mine, and may be accepted as indicative ol the accuracy of a very prevalent opinion " that the richness of our quartz lodes increases with their depth."; . The maximum of iCajls wilt be One Penny per share per momtip^tta affording an opportunity to all classes of participating in the venture by the limitation of liability to a minimum. A llfteen-head stamper battery is erected immediately contiguous to the tuunel's mouth, available for crushing any stone obtained. As a mining speculation, it presents direct and prospective advantages seldom met with iv kindred ventures, ac illustrated by the combination referred to, and still further by recent statistics furnished to the New Zea» land Government, showing that 108,188ozs. of gold, the yield of 156,862 tons, representing an averuge of 13 dwts; 19 grs., or nearly 14 dwts. per ton have been obtained by the various company's that have been, and are at work on the lines of reef proposed to be intersected. Taking the money value per ton £2 12s Bd, a clear profit of £1 ss. per ton can be spcured, allowing tbe cost of production to be divided thus— crushing by waer power, ss. per ton ; cost of raising stone, 10s 6d, per ton ; wear, tear, management, and contingencies, 12s 6d. Total, M 7s 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 OBTAINEJ^FROM THE UNDERSIGNED .f|p HENRY GEO HANKIN, Secretary. CHARLES H. EDWARDS, STOEE KEEPER Black's Point. 4 GOODS PACKED TOALL PARTS < h* * OF THE^TsJ||| % $ „ /