Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 19 July 1880, Page 3

PROSPECTUS OF THE INAFGAHUA LOjvV LEVKL TUX. KEL GOLD MINING COMPANY, LIMITKp, REEFIOy. CAPITAL ..,[ £12,000 In 24000 Shares! of 10s. Ea jh. Tib be Registered it? deb the PnnvmoN* of " Thb Mmii Q Companies' Acts, 1872." Calls limited to Om Penny per Month, with a deposit of Ttt > Pence per Share on Application pßonsiotfll 'directors. T?OBEET OXIET PATRICK BBENNAN John Teennekt George v\ ise William Gabdnee (Ehakles FBiSES James Connolly IJ. K. Gulline P. Q CAPLES JJIATHEW fcYRNE Feakk Hamilton Joseph Kilgoub Bankir* : _ BANK OF NEW ZEALAND. SOLIQITOE : JAMES LVK 7 CH,E,q. Secretiaky : HENRY GEU. HANKIN. OBJECTS OF" THE COMPANY. In submitting the 1 roposed undertaking for the approval of th general public, and more especially the inhabitants of the district, whose interests must necessarily be directly benefited by th i impulse given to a further development of- ;he hidden wealth of the field, and as a se< uence the increased circulation of capital 1 >caliy, the projectors have every confidence in its successful issuo which in the first plaje may be attributed in averj large degree tnjtbe widely expressed opinions of a variety ofj experts— first among whom may be mentioned the namo of Dr. Hector, Government Mlnerologist, &c. who says, that" the construction of such a tunnel cannot fai\ to intersect iumerou-' golden and other valuable metallic lbdes; the local mm« erolofjical products of jtbe neighbourhood fully justifying the assumption of iheir exstence in well-defined strata at a depth obtainuble by the proposed Icheme." Secondly : By the immeasurably superior advantages of profitably working manj lines of reef now in abeyance by leuson of tt b exceptionally high rates attending the prot uction of otherwise payable stone by compani 9of limited capital ; thirdly — from the fact >f tbe G-overnment recogni&ing "at the mi tance and recom» mendation of tbeirEngin ers " the importance and value of tbe work, as a means to. a great public good, by guaranteeing a subsidy of £ for £ of capital subscribed by the publicfacts that may be generalrv accepted as strong elements in support of the bona fides, and decided ultimate success! of tbe venture, in addition to which a further and liberal con» cession has been made in gjanting the coaipany right to GOO feet in width m either side of the entire length of the propoi ed tunnel outside of vested interests, and as nine distinct and separate lines of gold»b£ iring reef traverse the company's claim at a r ght angle, or thereabouts, apart from any others not visible, Which by reasonable infei jnce may bo met with, it may be fairly iharacterized as a highly promising speculation. A still further addition to tbe anticipated] profits is represented by a tariff on hauljjge for other com* panics, estimated at, Bay 10 per cent over working expenses. There is a distance of ;hree-quarters of a mile of unoccupied land from the starting point, through which cci eral of the known lines of reef traverse. The company propose to drive a tunnel from the right to the left hand branch of the In' angahua river, a through distance of some two and a-half miles, anc thereby intersecting a perfect network of ;old-bearing reefs j a number of which have bt en partially worked on the surface only, but with payable results, whiob, on the ext :nsion of the pron posed tunnel would be a i once turned to profitable account, us ma ly of theni would be tapped at depths rang ng from 1500 feet downwards from the out Tops,' ensuring an unlimited supply of gold-t earing stone, which by a thus reduced co9t of production cannot, in the opinion of tbe projectors, fail to leave a very handsome mz gin of profit. The Golden Fleece Ex ended Gold Mining Company, whose lease is on the proposed line, arc at present raisii g stone from tbe low level, 700 feet below he outcrop, giving the handsome return of two ounces to tbe ton, which is the best yet obtained from the mine, and may be accept* d as indicative ol the accuracy of a very prevalent opinion " that tbe richness of oui quartz lodes increases with their depth." The maximum of Calls will be One Penny per share per month, thu i affording an opportunity to all clgsßes f participating in the venture by the limita iou of liability to a minimum. A fifteen-head stamperj battery is erected immediately contiguous jto the tunnel'B mouth, available for crashing any stone obtaiued. I As a mining speculation Jit presents direct and prospective advantage's seldom met with iv kindred ventures, af illustrated by tbe combination referred to, aril still further by recent statistics furnished {to the New Zea» land Government, Bbowina that 108,188ozs. of gold, the yield of 156,86X tons, representing an average of 13 dwt.s.jl9 grs., or nearly 14 dwts. per ton liave beem obtained by tbe various company's that have been, and are at work on the lines of reef pioposed to be intersected. Taking the money value per ton £2 12s Bd, a clear profit of *1 53, per ton can be spcured, allowing the cosl of production to be divided thus — crushing jby waier power, ss. per ton ; cost of raising stone, 10s 6d, per ton ; wear, tear, management, and contingencies, 12s 6d. Total, £1 i 7» Bd, leaving a balance of £1 5s to be dividld as profit. In conclusion, the projectors with every confidence assert that a morel genuine mining venture, and one possessing! the same elements to achieve success kaalseldam, if ever, been put on the market. I ••»— ■ I PROSPECTUS AND FORMS OF APPLICATIONS FOE SHARES TO BE OBTAINED FROM THE UNDERSIGNED. 1 HENRY GEa HANKIN, Secretary.! OHAKLES H, EDWARDS, STOKEKEE P|SR Black's Point.GOODS PACKED TO ALL PARTS OE THE DIRICT,