Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 16 July 1880, Page 3

Prospectus OP THBj INAFGAHUA LOW LKVKL TUNNKL GOLD -NISIiNG COMPANY, LIMITED, REEFi'OX. CAPITAL £12,000 In 24000 Shares o^ 10s. Ea jb. To be Registered »tndbl the Pb^ visions of " The Mining Qompanies' Acts, 1872." I Calls limited to One P\nni/ per Month, with a deposit of Tioo P\nceper Share on Application PROVISIONAL DIRECTORS. ROBEET OXLET PATRICK BeENNAN John Teennert Geoi ge Wisb William Gabdneb Chai les Fe^see, James Connolly R. X, Gulline P. Q. Cables Mat] ew Pybne Fbank Hamilton Josejh'Kilgoue Bankers BANK OF NEW I EALAND. Solicitoi : JAMES LYNCi , E>Q. Feceetaby : HENRY GEO. 11 1NKIN. OBJECTS OF THE COMPANY. In submitting the propc sed undertaking for the approval of the ge leral public, and more especially the inh bit ants of the distriot, whose interests mv it necessarily be directly benefited by the in pulse given to a further development of the lidderi wealth of the field, and as a sequen :e the increased circulation of capital locall v, the, projectors have every confidence in it: successful issue which in the first place t lay be attributed in averj large degree to the widely expressed opinions of a variety of ex| crts— first among whom may be mentioned he pame of Dr. Hector, Government Minei ilogist, &c. who says, that" the construction of such a tunnel cannot fai\ to intersect nun erom golden and other valuable metallic lode ; the local mm» erological products of tb< neighbourhood fully justifying the aasump ion of iheir exstence in well-defined straja at a depth obtainable by the proposed scheme." Secondly : By the immeasurably superior advantages of profitably working many lines of reef now in abeyance by leason of the Jxceptionallv high rates attending the production of otherwise payable stone by companies if limited capital ; thirdly— !rom the fact of the Government recogni&ing "at the insta ice and recomi« mendation of their Engineei j " the importance and value of the work, as a means to a great public good, by guaranteed \ a 'subsidy of £ for £ of capital subscribed by the publicfacts that may be generally iccepted asstiong elements in support of th( bona fides, and decided ultimate sucoess • t the venture, in addition to which a furthe ■ and liberal cons cession has been made in gra ting the company right to 600 feet in width ot either side of the entire lengtli of the propose [tunnel outside of vested interests, and as line distinct and separate lines of golcUbeai ng reef traverse the company's claim at a right angle, or thereabouts, apart from .any (jthers not visible, which by reasonable inference may be met with, it may be fairly characterized as a highly promising speculatioi . A still further addition to the anticipated { rofits is represented by a tariff on haulagt for other com* panics, estimated at, say, ', 0 per cent over working expenses. There is a distance of tl ree-quarters of a mile of unoccupied laud fom the starting point, through which sevei il of the known lines of reef traverse. The company propose to d iye a tunnel from the right to the left hand b anch of the In' angahua river, a through < i9tance of some two and a-half miles, and t lereby interseoting a perfect network of go d*bearing reefs ; a number of which have beei partially worked on the surface only, but w ith payable results, which, on the exten iion of the pros posed tunnel would be at once turned to profitable account, as manj of them would be tapped at depths rangin \ from 1500 feet downwards from the outcr< ps, ensuring an unlimited supply of gold-bea ring 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 Exter. ded Gold Mining Company, whose lease is on the proposed line, are at present raising stone from the low level, 700 feet below th< outcrop, giving the handsome return of tw o ounces to the ton, which is the best yet ot famed from the mine, and may be accepted as indicative of the accuracy of a very piavalent opinion " that the richness of our c uartz lodes increases with their depth." The maximum of Calls w 11 be One Penny per share per month, thus iffording an opportunity to all classes of participating in the venture by the limitatio l of liability to a minimum. A fifteen-head stamper bittery is erected immediately contiguous tci the tunnel's mouth, available lor crusijing any stone obtained. I As a mining speculation, itl presents direct and prospective advantages seldom met with in kindred ventures, aB illustrated by the combination referred to, and 1 still further by recent statistics furnished ti the New Zea« land Government, showing fiiut 108,188ozs. of gold, the yield of 156,862 lons, representing an average of 13 dwts, It grs., or nearly 14 dwts. per ton have been obtained by the various company's that have keen, 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 £1153, per ton can be secured, allowing the cost ojf production to be divided thue — crushing br wa^er power, ss. per ton ; cost of raising | stone, 10s 6d, per ton ; wear, tear," management, and contingencies, 12s 6d. Total, £1 7b 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 Jeldom, if ever, been put on the market. . I PROSPECTUS AND M)RMS OF APPLICATIONS FOE SHARES TO BE OBTAINED FROM THE i UNDERSIGNED. j HENRY GEa H^NKIN, Secretary. I OHAKLES H. EDWA.III)S, STOEEKEE P|!R Black's Point. GOODS PACKED TO ALL PARTS OF THE DIRICT,