Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 21 July 1880, Page 3

PROSPECTUS OF THE IN'ATGAHUA low LKVRL TUNNKL GOLD MINPsG COMPANY, LIMITED, BEEPrOX. CAPITAL ... £12,000 In 24000 Share 3 of 10*. Ea;b. TJo BE i?EGISTEI?ED t NDEBTHE Pu .VrslONs of " The Mix: sg Companies' Act^, 1872." Calls limited to Oie Penny per Month. with a deposit of 7 too Pence per Share on Af\ uieadon provisionJjJ directors. T?OBEET OXLET JPaTRICK BkENNAN John Tkenneuy Gj:obge Wise William Gabdner Charles Fiuser Jambs Connolly U. K. Gulltne P. Q. Caplks Mathew Byrne Feakk Hamilton Joseph Kilgour Bani :ees : BANK OF Nt W ZEAL\ND. Sol citoe : JAMES LYNCH, E>q. Frcß :taby : HENEY GJiO. HANKIN. OBJECTS OF THE COMPANY. In submitting the proposed undertaking for the approval ot' he geuci';il public, and more especially th< inhabi'ants of the district, whoso interei! 8 muet neies*arily be directly benefited by he impulse given to a further development < t the hidden wealth of the field, and as a equence the increased circulation of capita locul'y, the projectors have every confidenc ; in its successful issue — which in the first j lace may be attributed in a very large degree to the widely expressed opinions of a variety of experts — first among whom may be ment oned the namo of Dr. Hector, Government Minerologist, &c who says, that I ' the constr ntion of such a tunnel cannot fai\ to intersec b numerous golden and other valuable metalli '. lodes 3 the local mm* erological products >f the neighbourhood fully justifying the a sumption of ihfir exstence in well-define i strata at a depth obtainable by the propos id scheme." Secondly : By the immeasurably superior advantages of profitably working m my lines o»' reef now in abeyance by leason 0 the exceptionally high rates attending the j reduction of otherwise payable stone by comp ifties ot limited capital ; thirdly — from the fa it of the Government recognising "at the instance and recom* mendation of their En ineers " 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 usstiong elements in support of the bona fides, and decided ultimate sucdess ot the venture, in addition to which a firther and liberal con« cession has been made il granting the company right to 600 feet in widlh on either side of the entire length of tha 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 thereabouts, apart from any others not visible, which by reasonable inference may bo met with, it may be fairljt 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, eaj, 10 per cent over working expenses. 1 There is a distance ofl three-quarters of a mile of uaoccupied landl frcm the starting point, through which sereral of the known lines of reel traverse. V The company propose toldrive a tunnel from the right to the left hand Ibranch of the In* angahua river, a through \ distance of some two aud a-half miles, andlthereby intersecting a perfeot network of gold -bearing reefs ; a number of which have been partially worked on the surface only, but with payable results, whiob, 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 supply 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 margimof profit. The Golden Fleece Extended Gold Mining Company, whose lease is ob the proposed line, are at present raising alone from the low level, 700 feet below the qutcrop, giving the handsome return of two Jounces to the ton, which is the best yet obtained from the mine, and may be accepted at indicative ot the accuracy of a very prevalent opinion " that the richness of our quartz lodes increases with their depth." I The maximum of Calis will be One Penny per share per month, thus afflrding an opportunity to all classes of participating in the venture by the limitation bf liability to a minimum. | A lifteen-head stamper batt ry is erected immediately contiguous to the tunnel's mouth, available for crushin any stone obtained. As a mining speculation, it p events direct and prospective advantages seldom met with iv kindred ventures, as illu trated by the combination referred to, and si 11 further by recent statistics furnished to t ie New Zea» land Government, showing tha \ Joß,lßßozs of gold, the yield of 156,862 tor >, representing an average of 13 dw»s 19 | b., or nearly 14 dwts per ton havo been ob ained by the various company's that have be m, and are at work on the lines of reef propoi ed to be intersected. Taking the money ralue ncr ton £2 12s Bd, a clear profit of £1 5 . per ton can be secured, allowing the cost of Jroduction to be divided thus— crushing by raer power, ss. per ton ; cost of raising s one, 10s 6d' per ton j wear, tear, managemen ,aud contingencies, 12s Gd. Total, £1 7 9 (a. leaving a balance of £1 5s to be divided 1 3 'profit. ° Iv conclusion, the projectors with every confidence assert that a more g< nuine minino venture, and_ one possessing t ie same ele" raents to achieve success has se dom. if ever been put on the market. ' PROSPECTUS AND f\rms m? APPLICATIONS FOR\ SHARES 10 BE OBTAINED F&OM TSF UNDERSIGNED. | HENRY GEa HAISIKIN, Secretary. I CHARLES HrtDWAJJLDs", STOREKEEPER Black's Point. GOODS PACKED TO ALL PARTS OF THE DIHICr.