Page 3 Advertisements Column 4

Inangahua Times, Volume II, 9 August 1880, Page 3

PSOSPECTtJS OF THE TNAFGAfIUA JA)W L.KVKL TUNI NEL GOip MISINO COMPANY, LIiIJTRD, REEFTON. | CAPITAL *^ - £12 ' 00 ° In 24000 Slires of lOa.lSaib. S To bb R EG ist EB 4 ™>" n ™ B PEf T 1 ™ op " The MLviso Compasiks Acts, • 1872." j Ca!h limited to[one Penny per Month. vithadepositoHoo Penceper Sha,e on Mpplieation PROVISIONAL 'DIRECTORS. RobektOxlet 1 Patrick Brennan ,7ohnTkennek-s| Geojujb VV his William Gabdmbb Charles *b*s>eb Jambs CoSNOLLi K. K. Gullinb P Q CAPtES I MATHEW^hTRNE Fbakk WAMiLTdN Joseph £>lgoub Bankebs : BAFK OFpEU r ZEALiND. BOLICIT<>E : JAME^LYiNCII,E f Q. F ECEETAEY : HENRY IgEO. HANXIN. OBJECTS OP THE COMPANY. In submitting jllio proposed undortakirg for the approval! of the general public, and more especially I the inhabi'ants of the district, whose irlcresis must necessarily be directly beni'fitecßby the impulse given to a further development of the hidden wealth of the field, and rial a sequence the increased circulation of capital local y, the projectors have every confidence in its successful issue — which in the mist place may be attributed in averj large dpgree to the widely expressed opinions of a vajiety of experts — first among whom may be neutioned the namo of Dr. Hector, Governt lent Minerolngisr, &c. who says, that* the c instruction of such a tunnel o-mnot fai\ to in ersect numerous golden and other valuable m rtallic lodtsj the local mm» erological prodt ets of tbe neighbourhood fully justifying t ie assumption of ih:ir exstenco in well-c .fined Etrala at a depth obtainable by the pioposod scheme," Secondly : By the immeasurably eupeiim- aclv.ir.lar;c= of profitably workilg many line* o'" reel' now in abeyance by lealon of the excfplionallv high rates attending the production of otherwise payable stone by lompanies ot limited cnpital ; thirdly— from tile fact of the Government recogni&ing " atl the instance and recom* mendation of thar Engineers " the importance and value of thelwork, as a means to a great public good, by luaranteeing a subsidy of £ for £ of capital lfiubscribed by the publicfacts that may * generally accepted asstiong relemeiita in suijport of the hona fides, and decided ultimatf success of the venture, in addition to whilk a further and liberal con» cession hns been liade in granting the company right to 600 feet In width on either side of the entire l'engtliof lie proposed tuuneloutside of vested interests,! and as nine distinct and separate lines ofj gold«bearing reef traverse the company's cltim at a right angle, or thereabouts, apart flom any, othors not visible, which by reasonable inference may bo met with, it may be fairly characterised as a | highly promising A still further addition to the anticipated profits is represented by a tariff haulage for other com* panics, estimated! at, say, 10 per cent over working expenses.! « There is a distance of three-quarters of a mile of unoccupied laud from the starting point, through which several of the known lines of reef travei'sP The company propose to drive a tunnel from the right to the left hand branch of the In' angahua river, a through distance of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reefs ; a number of which have been partially worked on the surface on'y, but with payable results, which, on tho extension of the pron posed tunnel would be at once turned to profitable account, as jnany of them would be. tapped at depths ringing from 1500 feet downwards from the Autcrops, ensuring an unlimited supply of gold bearing stone, which by a thus reduced cosd of production cannot, in the opinion of tie projectors, fail to leave a very handsome! margin of profit. The Golden Fleece [Extended Gold Mining Company, whose 1 ase is on the proposed line, are at present r ising stone from the lojv level, 700 felt be, ny the outcrop, giving the handsome return of two ounces to the ton, which is the best yet obtained from the mine, and may be ac< epted as indicative o! the accuracy of a v ;ry prevalent opinion '• that the richness of our quartz lodes increases with their depl i." | The maximum of ( alls will be One Penny | per Bhare per month, thus affording au opportunity to all class )b of participating in jthe venture by the li nitatiou of liability to p minimum. A iifteen-head stat per battery is erected immediately contigu us to the tunnel's mouth, available iipr crushing any Btone obtained. As a mining epeculi tion, it pre-ents direct and prospective ad antages seldom met with in kindred ventu es, as illustrated by the combination referred o, and still further by recent statistics furni died to Ike New Zea»' land Government, sh wing that lO8 : 188ozs. of gold, the yield of 1 6,802 tons, representing an average of 13 dwts 19 grs., ot* nearly 14dwt8 per ton Lav been obtained by the various company's tin t have been, arid are at wofk on the lines of eef proposed to be intersected. Taking tl c money value per ton £2 12s Bd, a clear pre Fit of £1 ss. per ton can be secured, allowing t 10 cost of productiotto be divided thus — cm hing by wa er power, ss. per ton ; cost of raising store, 10s 6d, per ton { wear, tear, t unagement, and contingencies, 12s 6d. Tot 1, £1 7* Bd. leaving a balance of £1 53 to b i divided as profit. In conclusion,. the projectors with every confidence assert that a more genuine mining venture, and one po messing the same eleI ments to achieve su« !ss has seldom, if ever, Leen put on the mark t. PROSPECTUS . [ND FORMS OF APPLICATIONS FOR SHARES TO BE OBTAI NED FROM TEE UNDERSIGN. W. HENRY Gaa HANKIN, Secijetary. CHARLES Jff. KDWAITo^ STOEEIEE PER Blaekls Point. Goods packhd to all parts •of the) pnucr.