Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 9 July 1880, Page 3

PROSPECTUS | CF THB I'VArGAHIfA LOW LKVKL TUNNRL GOLD MINING COVIPAisy, LikiTKn, likKFros. CAPITAL vL. ,-v •« £12,000 In 24000 Spares of 10s. Eaih. To be Registered under the Pb^visions of " Thb Mining. Companies' Acts, 1872." I Calls limited to\ One Penny per Month. Kith a deposit of Two Pence per Share •on PROVISIONAL DIRECTORS. Robebt Oxiey I Patrick Brennan John Tebusbutl . Geobge VAub WILIIAM GABDNftB CHARLES FEisEB Jambs Connolly! «. «• Gulline P Q Caples I Mathew I<yrne Fbank Hamilto* Joseph Kimour ; BiNKEB 1 * : BANK OF lIEW ZEALAND. {Spi-iciToß : JAMES LYNCH, E>q. Smektary : HENRY <iEO. 11 AN KIN. OBJECTS OFJ THE COMPANY. In submitting t\* proposed undertaking for the approval of the general public, and more especially t|e inhabitants of the district, whos« ivitfijests must necessarily be directly benefited bj the impulse given to a i further developmena of the hidden wealth of the field, and as a I sequence the increased circulation of capit .1 joealiy, the projectors have every confider -c in its successful issue , —which in the first place may be attributed ; in averj large degra 3 to the widely expressed ; opinions of a variety lof experts— first among whom may be men tioned the name of Dr. Hector, Governmem Minerologisf, &c. wbo ; says, that' 1 the const u*tion of such a tunnel ownot fai\ to intersjet namerou< golden and other valuable metallic lodes ; the local mm» erological products! of the neighbourhood fully justifying the lassumptlon of rfafir exstence in well-defined strata at a depth obtainable by the propped 'scheme." Secondly : By the immeasurably superior advantages of profitably working many lines of reef now in abeyance by leason of tbe exceptionally high rates attending th production of otherwise payable stone by coi ipaniesoi limited capital ; thirdly*— from the fact of the Government recognising "at tl c instance and recom> mendation of their] Ingineers" the importance and value of the work, as a means to a great public good, by guaranteeing a subsidy of £ for £ of capital eunscribed by the public— fucts that may be generally anoepted as strong elements in support of the bona fides, and decided ultimate siccess ot tbe venture, in addition to which a further and libpral conn cession has been nmdl in granting the company rigbt to 600 feet in width on either side ot the entire length of the pioposed tunnel outside of vested interests, an (A as nine distinct and separate lines of goll»bearing reef traverse the company's claim ara right angle, or thereabouts, apart from any others not visible, which by reasonable inference may be met with, it may be fairly characterized as a highly promising speculation. A still further addition to tbe anticipated profits is represented by a tariff on haulage for other com* panics, estimated at, »y, 10 per cent ovtr working expenses. \ There is a distance ot three-quarters of a mile of unoccupied lank from the starting point, through which eiveral of the known lines of reef traverse. 1 The company propose ti drive a tunnel from tbe right to the left handj branch of the In' angahua river, a through! distance of some two and a-half miles, anq thereby intersecting a perfect network of bold-bearing reefs ; a number of which have baen partially worked on the surface onAy, but I with payable re<sults, which, on the extension of the proa posed tunnel would be al 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 supply of gold bJaring 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. Tbe Golden Fleece Extejpded ' Gold Mining Company, whose lease n on tbe proposed line, are at present raising stone from the loir level, 700 feet below tbp outcrop, giving tbe handsome return of two 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 Auartz lodes increases with their depth." i Tbe maximum of Oalls'will be One Fenny per share per month, thus affording an opportunity to all classes of participating in the venture by the limitation of liability to a minimum. I A h'fteen-head stamper bkttery is erected immediately contiguous t\ the tunnel's mouth, available for cmsning any stone obtained. I As a mining speculation, in pre-enfs direct and prospective advantage* seldom met with in kindred ventures, as illustrated by the combination referred to, and I still further by recent statistics furnished tq the New Zea» land Government, showing ttiat 108,188ozs. of gold, the yield of. 156,862 tens, representing an average of 13 dwts 19 grs., or nearly 14 dwts. per ton ):ave been ibtuined by the various company's that have been, and are at work on tbe lines of reef promised to be intersected. Taking the rxonet value per ton £2 12s Bd, a clear profit of £liss. per ton can be secured; allowing the cost ot production to be divided thus— crushing bjj wa er power, ss. per ton ; cost of raising Tstone, 10s 6d, per ton ; wear, tear, management, and contingencies, 12s 6d. Total, £1 74 Bd, leaving a balance of £1 5a to be divided! as profit. In conclusion/the projector with every confidence assert that a more genuine mining venture, and one possessing ihe same elements to achieve success has t :ldoni, if ever, been put on the market. PROSPECTUS AND 1 0RMS OF APPLICATIONS FOR SHARES TO BE OBTAINED FBOM THE UNDERSIGNED.^,. HENRY GEO. HANKIN, Secretary. CHARLES fl, ED YAK OS, STOREKEE p|BR Black's Point. J GOODS PACKED TO ALL PARTS OF THE.PIRICT,