Page 3 Advertisements Column 4

Inangahua Times, Volume II, 4 August 1880, Page 3

PROSPECTUS Op THB - INAFGAHUA [LO VV LEVRL TITSNKL GOLD MlJl-NG COMPANY, LIMJpED, REEFTON. CAPITAL ...r^.. ..: £12,000 ■" In 24000 Shales of 10s. Eajh. To be Registered ttnder the Pbcvisions of " Thb Mikikq Companies' Acts, 1872." I Calls limited to jOne Penny per Month, with a deposit on Tioo Pence per Share on Application • ■ PROVISIONAL DIRECTORS. Robert Oxlet I Patrick: Brennan John Tbennebtl Geobgb rW,isfi William Gardner Charles Friseb James ConnollsT R. J*. Gullinb P.Q Caples j Mathevt JBtrne Fbank Hamiltok J oseph J^ilgoob bLnkebs t r . ■ BANK OF [NEW ZEALAND. Solicitor : JAMESJLYiN'CH.&Q. SICEETAHT: . HENEY pEO. HANKIN. OBJECTS Of THE COMPANY. In submitting he. proposed undertaking for the approval >f tbe general public, and more especially he ihhubitants of the distriot, whose irit res! 8 must necessarily be directly benefited y the impulse given to a further developmet t of the hidden wealth of the field, and as . sequence; the increased circulation of cap tal, : local! jr. the projectors have every confid nee in its ' successful issue — which in the fir t place tnajr be- attributed in averj large deg ree to-the vfidelyexpreseed opinions of a vari< ty of expertsr-first among whom may be m ntlbried the namo of Dr. Hector, Governm* it Minerplpgist, &c. wbo says, that* the cor itruHion of such a tunnel ctnnot fafl to inte sect numerous golden and other valuable meUllio lodfßj,the local m[ni" erological producl i of the neighbourhood fully justifying tin assumption of their exsteuce in well-defined strata at a depth obtainable by the proposed scheme." Secondly : By the immeasuraply superior advantages of profitably wbrkingTmany lines o»' reef now in abeyance by teasol of. the exceptionally high rates attending tin production of otherwise payable stone by companies oi limited capital ; thirdly— Fromo the Ifact of the Government recognidng "at tie instance and recommendation of their Engineers '"the importance and value of the wirfc, us a means to a great public good, by qua anteeing a" subsidy of £ for £ of capital su scribed by the publicfacts tbat may beg nerally accepted asstio'ng elements in suppo t of the hona fides, and decided ultimate^ 1 access pi the venture, in addition to which t further and liberal cons cession bas been ma c in granting the company right to 600 feet in ridth on either side, of the entire length of the H-oposed-fanriel outside of vested interests,' ai d as nine distinct and separate lines of f >ld"bearing reef traverse the company's clam at a right angle, or thereabouts, apart froi any others not visible, which by reasonabl > inference may be met with, it may be airly characterized as a highly promising sp iculationi' A still further addition to the anticipated profits is represented by a tariff onl haulage for other com* panics, estimated at, cay, 10 per cent ov«r woiking expenses. I There is a distante of three-quarters of a mile of unoccupied lland from the starting point, through whicn several of the known lines of reef traverse! Hi Thfl company propdse to drive a tunnel from the right to the left land branch of the Inangahua river, a thraugh distance of some two and a-half miles! and thereby intersecting a perfect netwdrklof gold-bearing reefs ; a number of which hate been partially worked on the surface only, put with payable results, which, on the I extension of the pro* ; posed tunnel would bl at once turned to profitable acopunt, aslmauy^ of them would be tapped at depths wnging from 1500 feet downwards from the lutcrops, ensuring an unlimited supply of gold- bearing stone, which by a thus reduced cost! of production cannot, in the opinion of tlw projectors, fail to leave a very handsome margin pf profit. Tbe Golden Fleece Extended Gold Mining Company, whose lease is on tbe proposed line, are at present raising stone from the low level, 700 feet below the outcrop, giving the handsome return if two ounces to the ton, which is the best -} et obtained from the mine, and may be acce ited as indicative of the accuracy of a vei v 'prevalent opinion " that the richness of c it quartz lodes increases with their depth " The maximum of Ct Is will be One Penny per share per month, f ius affording an opportunity to all claesea of. participating in the venture by the linjitatiou of liability to a minimum. I'- : ''■ ■ A fifteen-head stamjer battery is erected immediately contiguous to the tunnel's mouth, available lor j crushing any stone obtained. j As a mining speculation*, it presents direct and prospective adyjntages seldom met with iv kindred Venturis, as illustrated by the combination referred tq, and still further by recent statistics farnisned tp the.. New Zea* land Government, shoving that 108,188ozs. of gold, the. yield of 15C.862 tons, representing an average of 13 clwts 19 gis., or nearly 14dwts. per ton La vei been obtained by the various company's thai have been, and are at on the lines of rdef proposed to be intersected. Taking thj money value per ton £2 12s Bd, a clear prolt of £1 Ss. per ton can be spcured, allowing tJb cost of production to _be divided thus — crusLing by wa er power, ~6b. per ton ; cost of l-aising stone, 10s 6d, per ton ; wear, tear, upnagement, and contingencies, 12s 6d. Totil, £1 7s Bd, leaving a balance of £1 63 to ba divided as profit. In conclusion, the [projectors with every confidence assert thatp more genuine mining venture, and one poli-essing the same elements to achieve success has seldom, if ever, been put on the marklt. : prospectusTlnd forms of applicatmms for shares to be obtained from the undersigned. HENRY G±a HANKIN, Secretary. CHARLES k JiDWA.UJ)Si STOREKEE PER Black's Point. GOODS PACKED TO ALL PARTS OF THB DIRICr.