Page 3 Advertisements Column 4

Inangahua Times, Volume II, 2 August 1880, Page 3

PROSPECTUS OF THE INATGAIIUa lo>V LKVKL TUNNKL GOLD) MINING- CO\lP A JS V, LI M I; ' E D, R KEF TO N T . CAPITAL .„ - .- £12 000 In 24000 Sua es of 10s. Ea;h. To be Registered jndehthePe vraoxs of " The Mmi;a Companies' Acts, 1872." Calls limited to (hte Penny per Month, Kith a deposit of Vwo Pence per Share on Application PROVISIO2ML DIRECTORS. Robert Oxley I Patrick Bhbnsan JohnTkensbuyl GkobgbVNue William GABDNfeE Chahles Fb.^ee James Connolly/ V- Mi. Gulline P. Q Caples I Mathbw 1 j ykxe Pbakk Hamilton Joseph K'LGOue bLnkebs : BANK OPpEW ZEALVND. ! ioLICITt'B : JAMES LYiSCH, E^q. S" CEETAKY : HENRY &l£o. iIANKIN. OBJECTS 07 THE COMPANY. In submitting lie proposed undertaking for the approval jof the gener.il public, and more especially I the inhabitants of the district, whose ir.leresiß timst necessarily be directly benefitedlby the impnlsn given to a further developmoit of the -hidden wealth of the field, and asTa sequence the increased circulation of capital local y, the projectors have" every confk ence in its successful issue which in the fi st place may be attributed in a verj l ai 'g e °"c jreo to the widely expressed opinions of a var ety of experts— first among whom may be n eiitioned the name of Dr. Hector, Government Minerologist, &c. who says, that' 1 the construction of suuh a tunnel cannot fai\ to interact numerou* golden and other valuable metallic lod> s ; the local min^ erological products! of the neighbourhood fully justifying thelaasumption of ihtir exstence in well-defijied strata at a depth obtainable by the proaosed scheme." Secondly : By the immeasuraply superior od vantages of profitably workingf many lines o<" reef now in abeyance by leasoli of the exceptional^ high rates attending tie production of otherwise payable stone by clmpunies of limited capital ; thirdly— - rrom tha lact of the Government recognising "at lb^ instance and recommendation of theil Engineers " the importance and value of the work, as a means to a great public good, by guaranteeing a subsidy of £ for £ of capital Aibscribed by the publicfacts that may bclgenerally accepted assttong elements in supJort of the bona fides, and decided ultimate! success ot the venture, in addition to whim a further and liberal con» cession has been mads in granting the coaipany ' right to 600 feet In width on either Bide of the entire lengtli of |he 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 jbe fairly characterized as a highly protnisine speculation. A still further addition to the fnticipated profits i 3 represented by a tariff! on haulage for other com* pauies, estimated at, cay, 10 per cent over working expenses. There is a distance of three-quarters of a mile of ÜBoccJpied land from the starting point, through! which several of the known lines of reef trjtverse. The compan 4 propose to drive a tunnel from the right to thfe left hand branch of the Inaugahu'i river, a through distance of some two and a-hali miles, and thereby intersecting a perfect r Btwork of gold-bearing reefs ; a number of w lich have been partially worked on the surface only, but with payable results, which, n tha extension of the pros posed tunnel \ ould be at oncie turned to profitable ace( unt, os many of them would be tapped at d spths ranging from 1500 feet downwards fro n the outcrops, ensuring an unlimited supp y of gold bearing stone, which by a thus redu ied cost of production cannot, in the opinio of the projectors, fail to leave a very hi adsome margin of profit. The Golden Fleece Extended Gold Mining Company, i hose lease is on the proposed Jine, are at pr< lent raising stone from the low level, 700 f :et below the outcrop, giviDg the handsome 'eturn of two ounces to the ton, which is tl c beßt yet obtained from the mine, and may be accepted as indicative of the accuracy o a very prevalent opinion " that the richness of our quartz lodes increases with tliar depth." • The maximum of Calls will be One Penny per share per month, thus affording an opportunity to allj classes of participating in the venture by the limitation of liability to a miuimuin. | A lifteen-hea I stamper battery is erected immediately o( ntiguous to the tunnel's mouth, availabl > lor crushing any stone obtained. As a mining s )eculation, it pre enfs direct and prosueetiv i ady antages seldom met with iv kindred ventures, as illustrated by the combination refi rred to, and still further by recent statistics furnished to the New Zealand Grovernrnei t, showing that 108,188ozs. of gold, the yiel I of 156,862 tons, representing an average pf. 13 dwts 19 grs., or nearly 14 dwts. per toll have been obtained by the various company's that have been, and are at work on the Unas of reef proposed to bo intersected. Taking the n oney value per ton £2 12s Bd, a clear profit of £1 ss. per ton can be secured, allowing the cost of production to be divided thud-crushing by wa er power, ss. per ton ; coal of raising stone, 10s 6d, per ton ; wear, tlar, m magement, and contingencies, 12s 6d. j Total, £1 7s Bd. leaving a balance of £1 5a to be divided as profit. y In 'conclusionjthe projectors with every confidence assertjthat a more genuine mining venture, and onl possessing the same elements to achieve Jsuccess has seldom, if ever, been put on the market. PBOSPECTOS AND FORMS OF APPLICATIONS FOR SHARES TO BE OBTAINED FROM THE UNDERSI&NJED. HENRY Aia HANKIN, Secretary. CHARLES H. JiD WARDS, STOREJKEE PER Blank's Point. goods packed to all parts OP THE DIUICr,