Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 28 July 1880, Page 3

PRO S;P,S CTUS OFpHB IVA?'GAHUA IAAV Is£j'L TUXIs' KL GOLII MIS%G COMPANY, LIMI'IKD, KKivFiON T . CAPITAL .«j £12,000 la 24000 Shiitfcs of 10j. Eajh. T/o be T?egißTered vkdetj the Pc visions ov f Teb MiKpG Companies' Act*. 1872." I Calls limited to (lie Penny per Month, with a deposit of Two Pence per Share on Jdpliration PROVISIONAL 'DIRECTORS. ROBEET OXIBT I PATRICK BRENNAN John Tbenneut I Geoege Uisk William Gabdnelj Charles Fiuser James Connolly K. K. Gulline P. Q CAPLES MATHEWtTENE FBA^K Hamilton Joseph Ljlgour "BaKKEEs : BA.KK OF JIKW ZEALVND. SijLICITnB : JAMES IY.NCH.E-q. P EjCKETAI? Y : HENEY OISO. HAN KIN. OBJECTS OF("tHE COMPANY. In submittina tie proposed undertaking for the approval * the penerol public, and more especially fe inhabwanta of the district, whose intelesia must necessarily be directly benefited * the impulse given to a further development of tho hidden woalth o, the Held, and as i sequence the increased circulation of capital locally, the projectors have every confldmre i<i its successful issue —which in the firlt place may be attributed in aver} large deg cc to the widely expressed opinions of a vari< ;y of experts—first among whom may be m ntioned the namo of Dr. Hector, Governme it Minerologist, &c.. who gays, that" the cor itrution of such a tunnel cannot fai\ to inte sect numerous golden and other valuable met illic locl-8 ; the local minerological product) of the neighbourhood fully "justify ing th< assumption of iheir exstence in well-del ned strata at a depth obtainable by the pro osed scheme." Secondly: By the immcasura >ly superior advantages of pron'tably working! many lines o<" reef now in abeyance by leusul of the exceptional^ high rates attending thfe production of otherwise payable stone by companies o( limited capital ; thirtfT rrom the Ifacfc of the Government recognising "at tile instance and recommendation of their Bngineers " the importance and value of the wolk, as a means to a great public good, by guaAnteeing a subsidy of £ for £ of capital sublcribed by the public— fuels that may be generally accepted usstiong elements in supporttof the bo'ia fides, and decided ultimate sufceees ot the venture, in addition to which a further and liberal cons cession has been madoln granting the company right to 600 feet in wilth on either side of the entire length of the proposed tunnel ouiside of vested interests, and las nino distinct and separate lines of golcibeariug roof traverse j the company's claim atla right angle, or there- j aboiits, apart from any others not visible, which by reasonable inference may be met with, it may be fairlf characterized as a highly promising speculation. A still further addition to the anticipated profits is represented by a tariff on haiiage for other com» panics, estimated at, saY, 10 per cent over woi king expenses. 1 There is a distance oflthree-quarters of a mile of unoccupied land! frcm the starting; point, through which sewral of the knowu lines of reef traverse, I Thft company propose to Brive a tunnel from the right to the left hand pranch of the In- | | angahua river, a through ldistance of some I two aud a-half miles, and thereby intersecting a perfect network of gild-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 pros posed tunnel would bo at lonce turned to profitable account, os many! of them would be tapped at depths ranginl from 1500 feet downwards from the outcrops, ensuring an unlimited supply of gold beafcng stone, which by a thus reduced cost of production cannot, in the opinion of the projectors, fail to leave a very handsome margim of profit, The Golden Fleece Extended Gold Mining Company, whose lease is in the proposed line, are at present raising Itone from the low level, 700 feet below the outcrop, giving the handsome return of two ouncss to the ton, which is the best yet obt lined from the mine, and may be accepted is indicative ol the accuracy of a very pre ?alent opinion " that the richness of our qi artz lodes in- ! creases with their depth." The maximum of Calls wil be One Penny per share per month, thus a fording an opportunity to all classes of j articipating in the venture by the limUatioi of liability to a minimum. A lifteen-head stamper ba ;tery is erected immediately -contiguous to the tunnel's mouth, available lor prush ng any stone obtained. As a mining speculation, it pre-ents direct and prospective adyantagei seldom met with in kindred ventures, as ilustrated by the combination referred to, and J still further by recent statistics furnished t<| the New Zea» land Government, showing Iliat 108.188ozs. of gold, the yield of 156,862 lons, representing an avertige of 13 dwts IB gi's., or nearly 14 dwts per ton have been [obtained by the various company's tuat havej been, and are at work on the lines of reef proposed to be intersected. Taking the iconty value per ton £2 12s BJ, a clrar profit of £1 ss, per ton can be secured, allowing the costlof production to be divided thus — crushing py wa er power, ss. per ton ; cost of raising stone, 10s 6d, per ton ; wear, tear, inanagelient, aud contingencies, 128 6d. Total, £1 j7s Bd, leaving a balance of £1 5s to bo divided as profit. In conclusion, the projectors with every confidence assert that a more genuine mining venture, aud one poss-essinc the Bame ele° ments to achieve success his Beldom, if ever, been put on the market. I prospectus ann forms of applications for shares to be obtained from ire undersigned! HENRY GEO.IHANKIN, Secretary. OHAKLES fl, t~DWAIiI>B, STOREKEJE PER Black's Point. GOODS PACKED TO ALL PARTS OF THE piKICf,