Page 3 Advertisements Column 4

Inangahua Times, Volume II, 6 August 1880, Page 3

PROSPECTUS OF THB TNANGAHUA I OW LEVEL TUN--1 NEL GOLE MI3ISG COMPANY, LIMIT ED, REEFTON. CAPITAL ... £12 ' 000 *. In 24000 Shar sof 10* Eash. 1 TOBBRBOISTBBBDrNDEBTHBPBoyiSIONS of " Thb Mis no Companies Acts, . 1872." , Call* limited to 0 7*e»*9 PF^ h ' on Ap t ilieaUon. PROVISION* ' Bob«*Om.bt P*«kkßbbkkak Johh Tbbhnbby Gbobob VJ«; WiMilA* Gabdsbb CharwsFsasbb i .TahssCohkolW R.K.Gcimnb P. Q. Cafms Mathbw Btbhb Fbahk Hamilton Joseph Kiwoub Baw ebbs j } BANK OF Ni tW ZEALAND. Soi icitob : JAMES L TiNCH, Ehq. SBCfitTABY: HENRY GI O. HANKIN. OBJECTS of" Se company. 1 In submitting th* proposed undertaking for the approval oflthe generol publio, and more especially thfe inhabitants of tbe distriot, whose infrn sis niu<*t uecessanly be directly benefited by the impulse given to a I further development of the hidden wealth of the field, and as a sequence the increased circulation of capit X locally, tha projectors have every confider *c in its successful issue —which in the first place may be attributed in a verj large deg« b to the widely expressed I opinions of a variet; of experts— first among ) whom may be met tioned the namo of Dr. Hector, Governmen i Mineralogist, Ac., who says, that* the consi ru-stion of suoh a tunnel cannot fail to inten ict numerou*- golden and other valuable meta lie lodes j the local mm» erological products of the neighbourhood fully justifying the Msumption of cheir eistence in well-defii Bd strata at a depth obtainable by tbe prop sed scheme." Secondly : By the immeaeurao y superior advantages of profitably working nany lines of reef now in - abeyance by teuson >f the exceptionally high rates attending the production of otherwise payable stone by con panics of limited capital ; thirdly— from v the act of tbe Gor*rnment recognising "at tb > instance and recom** mendation of tbeir I ogineers " the importance » and value of the wo k, as a means to a great publio good, by guai inteeing a subsidy of £ for £ of capital sul scribed by the publicfacts tbat may begi nerally accepted assttong elements in suppoi ; of the bona fides, and decided ultimate i iccess ot the venture, in addition to wbioh i further and liberal con** cession has been mat c in granting tbe company f right to 600 feet in width bn either side of the entire length of thelproposed tunnel outside of ' vested interests, atd as nine distinot and ' separate lines of j old.bearing reef traverse , the company's claii ,at a right angle, or thereabouts, apart froi \ any others not visible, wbioh by reasonab c inference may be met witb, it may be fairly characterised as a highly promising s eoulation. A still further • addition to the ant sipated profits is represented by a tariff oi haulage for other corns panics, estimated it, say, 10 per cent ovsr working expenses. There is a dista loe of three-quarters of a mile of uaocoupie I land from the starting point, through wt ich several of the known lines of reef travel ie. The oompany pw poße to drive a tunnel from i the right to the lei t band branoh of the Iv- : angahua river, a t trough distance of some i two and a-half mi bs, and thereby intersecti ing a perfeot netw *k of gold-bearing reefs - , a number of whicb bave been partially worked on the surface on y, but with payable re- , suits, whioh, on ie extension of the pro* posed tunnel woul i be at once turned to 1 profitable account as many of them would ' be tapped at depths ranging from 1500 feet ' downwards from the outcrops, ensuring an ' ualimited 'apply of gold-bearing stone, whioh > by a thus reduoed oost of production cannot, i in the opinion of the projectors, fail to ; leave a very handsome margin of proflt. I The Golden Fleece! Extended Gold Mm I ing Company, whose lease ie on the proposed 1 line, are at present raising stone from the r low level, 700 feet below the outcrop, giving the handsome return of two ounces to the , ton, which is the best yet obtained from the mine, and may be aoopted as indicative of &c aoouracy of a vary prevalent opinion '* tbat the richness of our quarts lodes increases with their dept i." The maximum of C alls will be One Penny per share per month, thus affording an opportunity to all clasa • of participating in the venture by tbe lii aitation of liability to a minimum. j A fifteen-head stair per battery is erected immediately contiguous to the tunnel's mouth, available for crushing any stone -* obtained. F As a mining specula ion, it presents direct and prospective adfintages seldom met • with in kindred ventur >s, as illustrated by the combination referred t>, and still further by recent statistics furnisied to the New Zea* land Government, sho ring tbat 108,188ozs. of gold, tbe yield of IS 5,862 tons, repreaentr ing an average of 13 c wis. 19 grs., or nearly ] 14 dwts. per ton l-.avo been obtained by the various company's that have been, and are at work on the lines of re ;f proposed to be intersected. Taking the money value per ton £2 12s Bd, a clear profi I of £1 ss, per ton can be secured, allowing thi > cost of production to be divided thus — crusl ing by waier power, 6s. per ton ; cost of i aieing stone, 10s 6d, per ton ; wear, tear, mi nagement, and contin- > gencies, 12s 6d. Total , £1 7s Bd, leaving a balance of £1 6s to be divided as profit. \ In conclusion, the projectors with every 1 confidence assert that t more genuine mining venture, and one post easing the same elem ents to achieve suoce s has seldom, if ever, been put on the marke . ) __ ' PROSPECTUS AND FORMS OF f APPLICATION S FOR SHARES , ■ TO BE OBTAIUED FROM THE UNDERSIGNE D. ' HENRY GE >. HANKIN, » Secretary. CHAKLES B. EDWARDS, [ STO BE KEEPER ', Black* Point. ■ GOODS PACKED! TO ALL PARTS OF THE DIRICT.