Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 23 July 1880, Page 3

PROSPECTUS CF THJ^ ' _• ' IV A i v G A I T U _LOWLY. VE L TU N 7 - ML GOLD MIN'I.NG COMPANY, LIMITED, REEFTON. CAPITAL ... .. .- £12,000 In 24000 Shares 0 10s. Ea ih. T/o be Registered *r. the Pb.-vt ..on* of " The Mining Companies' Act . 1872." Calls limited to One Penny per Mojith, Kith a deposit of Two JP 'ence per Share on Applk ation PROVISIONAL DIRECTORS. ftOBERT OxLEY Pj TRICK BrEXNAN .John Tbennekt G :orge Wise Wiluam Gardner C: tARLEs FuisEU James Connolly Jt. K. Gulline P. Q Caples M a.thew I^trne Fbakk Hamilton d< sjcph Kilgoub Banke is : BANK OP JNIiV ZEAL\ND. Solic res : jamesly:cii,e-q. 1. eceeTj ry : HENRY GEO. HANKIN. OBJECTS OP TH E COM PANY. In submitting the p opoued undertaking for the approval of 'the general public, and more especially the iuhnhiants of the district, whose int'ies's mu.*t necessarily be directly beiii'fited hy the impulse given toa further development of t ie hidden wealth ol the field, and as a eeq ipnce the increased circulation of capital h ealy, the projectors have every confidence ii iti successful issue — which in the first plac 1 may be attributed in a very large degree to the widely expressed opinions of a variety of .xperts— first among whom may be mention, d the namo of Dr. Hector, Government Mi lerologist, &c. who says, that** the constru-ti ni of suoh a tunnel c.nnot fai\ to intersect r auierou- golden and other vuluable metallic 1< d.-s ; tha local mimerological products a£ ;he neighbourhood fully justifying the a^sui iption of their exsteuce in welt-defined si rata at a depth obtainable by the proposed s ;heme." Secondly : By the immeasurably su lerior advantages ol profitably working many line 3 o'' reef now in abeyance by 1 eason of th > excep:ionallv high rates attending the prod action of otherwise payable stone by eonipanii s o( limited capital ; thirdly — from the fact 1 f the Government recognicing "at the im Lance and recom* mendation of their Engini bi s " the importance and value of the work, as a means to a great public good, by guarantee ng a subsidy ol £ forJB of capital subserib. d by the public— fncts that may be generall y accepted asstiong elements in support of t ie bona fides, and decided ultimate success ot the venture, in addition to which a furl! .<■ r and liberal cona cessiou has been made in gi anting the company right to 600 feet in width n either side of the entire leugtli of tiu propof ed tunnel outside of vested interests, and as nine distinct and separate lines of gold»be ning reef traverse the company's claim at a r ght angle, or thereabouts, apart from any others not visible, which by reasonable infer uce tnay bo met with, it may be fairly ( haracterized as a highly promising speculati in. A still further addition to the anticipated profits is represented by a tariff on haula ;e 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 frcm lhe 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 perfpct network of gold-bearing reefs ; a number of which have been partially worked on the surface on'y, but with payable results, which, on the extension of the pro» posed tunnel would be at onco turned to profitable account, os many of them would be tapped at depths ranging from 1500 feet downwards from the outcijops, ensuring an unlimited supply of gold be; ring stone, which by a thus reduced cost of j: reduction cannot, iv the opinion of the j rejectors, fail to leave a very handsome mar; iv of profit, The Golden Fleece Exte ided Gold Mining Company, whose lease i 1 on the proposed line, are at present raising stone from the low level, 700 feet below tl c outcrop, giving the hnnd-oinc return of t rro ounces to the ton, which is .tiie best yet 1 b tained from the mine, and may be accepts i as indicative of the accuracy of a very irevalent opiuion " that the richness of our quartz lodes increases with their depth." Tho maximum of Calls, vill be One Penny per share per month, thus affording an opportunity to all classes c f participating in the venture by the limila ion of liability to a minimum. A fifteen-head stamper battery is erected immrdititily contiguous to the tunnel's mouih, available for cr ishing any stone obtained. As a mining speculation it pre ents direct and prospective adynnt gee seldom met with in kim'red ventures, 1 a illustrated by the combination referred to, a d still further by recent statistics furnished to the New Zealand Government, showin : that 108,188ozs. of go.d, the yield of 156,8 f 2 tons, representing an average of 13dwti 19gis., or nearly 14 dwts per ton Imve be< n obtained by the various company's that ht ye been, and are at wort on the lines of reef j roposed to be intersected. Taking the vc< mey value per tou £2 12s Bd, a clear profit of £1 ss. per ton can be secured, allowing the co t of xiroduction to be divided thu? — crushing by wa er power, ss. per ton ; cost of raisi ig stone, 10s 6d, per tou j wear, tear, uianag .ment, aud contingencies,. 12s 6d. Total, £1 7s Bd, leaving a balance of £1 5s to be divided as profit. In conclusion, the proje .tors with every confidence assert that a 1110 c genuine mining venture, and one pos^essii g the same elements to achieve success hts seldom, if ever, leen put on the market. PROSPECTUS AND FORMS OF APPLICATIONS IOR SHARES 10 BE OBTAINEL FROM THE UNDERSIGNED. HENRY GECX j IANKIN, * Secretary. CHARLES H. LJDWAKDS, _ . • ! STOKEKEEfPjaR Black's Poiit. 1 h goods packed to all parts cp ths dirlct.