Page 3 Advertisements Column 4

Inangahua Times, 30 July 1880, Page 3

PROSPECTUS OP THB TV A x*' GA.H XT A LO W LXV V. L TUN- -*• NEL GOLD MINING COVIPAINY, LIMITED, BEEP TO ST. CAPITAL ... j. £12,000 In 24000 Shar* of 10s. Ea;h. To be "Registered tinder the Vncmnom or " Thb Minikg Companies' Actj 1872." I Calls limited, to One Penny per Month. uith a deposit of Jtoo Pence per Share on Awlioation. PROVISIONAL DIRECTORS. Robert Oxley I Patrick Bkennan John Teennehy I Geobge Wise William Gakdnee Charles Friseb James Connolly I ]*■ K. Gulline P. Q Caples I Mathew I<ybne Fbakk Hamilton! Joseph Kilgous Bakkeks : BAKE OF |EVV ZEALIND. Solicitor : JAMES LYJSOH.E^. PEfRETARY: HENEY (fEO. HAxN'KIN. OBJECTS OFj THE COMPANY. In submitting the proposed undertaking for the approval Jf tbe general public, and more especially Jhe inhabitants of the district, whose intvests mutit necessarily be j directly benefited m tha impulse given to a further development of the hidden wealth of the field, and as 1 sequence the increased circulation of capital locally, the projectors have every confld< ice in ita successful issue —which in the fire ; place may be attributed in a verj large deg cc to the widely expressed opinions of a varie y of experts — first among whom may be im itioned the name of Dr. Hector, Govemme: t Mineralogist, &c. who says, that '• the con tru^tion of such a tunnel cannot fail to inter ect numerous golden and other valuable meti llic lodes ; the local mm» erological product: of tbe neighbourhood fully justifying the assumption of vheir exstence in well-defi ed strata at a depth obtainable by the prop >sed scheme." Secondly : By the immea?ural ly superior advantages of profitably working many lines of reef now in abeyance by teuson of the exceptionally high rates attending th production of otherwise payable stone by cor ipaniesof limited capital ; thirdly— from the fact of the Government recogniaing "at tl c instance and recom» mendation of their] ngineers " the importance and value of the wo 'k, as a means to a great public good, by qua anteeing a subsidy of £ for £ of capital sul 9cribed by the public — facts that maybegc lerally accepted as strong elements in Buppot of the bona fides, and decided ultimate s ccess ot the "venture, in addition to which i further and liberal con» cession has been mad > in granting the company right to 600 feet in ' idth on either side of the entire length of the oropofeed tunnel outside of vested interests, anß as nine distinct and separate lines of gcld«bearing reef traverse the company's claim it a right angle, or thereabouts, apart from any others not visible, which by reasonable inference may bo met with, it may be fo rly characterized as a highly promising spe ulation. A still further addition to the antici isted profits is represented by a tariff on laulage for other com« panics, estimated at say, 10 per cent over woiking expenses. There is a distanc of three-quarters of a . mild of unoccupied and from the starting point, through wliicl several of the known lines of reef traverse! The company propdeo to drive a tunnel from the right to the left lland branch of the In« angahua river, a through distance of some two iand a-half miles,! and thereby intersecting a perfect networklof gold-bearing reefs ; a number of which hate been partially worked on the surface only, jbut with payable results, which, on the I extension of the pros posed tunnel would bl at once turned to profitable account, as! many of them would be tapped at depths lunging from 1500 feet downwards from the Ipiitcrops, - ensuring an unlimited supply of gold-bearing stone, which by a thus reduced cosa of production cannot, in the opinion of tie projectors, fail to leave a very handsomelmargin of profit. The Golden Fleece Extended Gold Mining Compnny, whose lelse is on the proposed ] line, are at present raising Btone from the j low level, 700 feet below the outcrop, giving i the handsome return df two ounces to the i ton, which is the best «t obtained from the mine, and may be accosted as indicative ot . the accuracy of a verr prevalent opinion' " that tbe richness of olr quartz lodes increases with their depth.T The maximum of Calk will be One Penny per shave per month, this affording an opportunity to all classes lof participating in ] the venture by the limitation of liability to a minimum. 1 A fifteen-head stamper! battery ia erected immediately contiguous Ito the tunnel's mouth, available lor crashing any Btone ( obtained. I } As a mining speculation.Kt presents direct and prospective advantages seldom met < with in kindred ventures, alillustrated by the J combination referred to, anl still further by c recent statistics furnished lo the New Zea» r land Government, showing Itbafc 108,188ozs. of gold, the yield of 156,8621t0n8, representing an average of 13 dwts. 19 grs., or nearly 14 dwts. per ton have beenlobtained by the various company's that bavelbeen, and are at ; work on the lines of reef proposed to be intersected. Taking the uonfv value per ton £2 12s Bd, a clear profit of £l ss. per ton can be secured, allowing the cost a£ production to be divided thus — crushing br wa er power, ss. per ton j cost of raising lstone, 10s 6<J, I per ton j wear, tear, managemlnt.and contin- 0 genciee, 12s 6d. Total, £1 71 Bd, leaving a balance of £1 5s to be divided] as profit. I In conclusion, the projectors with every I confidence assert that a more lenuine mining venture, aud one posbessing Ilie same elements to achieve success has c sldom, if ever, ti been put on the market. PROSPECTUS AND 1 0RMS OF h APPLICATIONS FOI SHARES v TO HE OBTAINED I ROM THE *' UNDERSIGNED. t: HENRY GEa hInKIN, \ Secretary. | 0 CHARLES H. JiDWARDS, 2 I 8 STOEBKEE PBBR j] Black's Point. b. _ I { ■ m 3 OfjDS PACKED TO ALL PAB.TS OF THE DIRICT,