Page 3 Advertisements Column 4

Inangahua Times, Volume II, 11 August 1880, Page 3

PROSPECTUS OPITHB INAFGAHUA BOW LEVEL TUNNKL GOLf MINIiNG COMPANY, LIMIpD, REEFION. CAPITAL "[ .-,.•". £12>00 ° In 24000 Su*es of lOj. Ea ;h. To be BbgistbbiJundbb the PE-yrsioNs of " The MfNixa Companies Acts, 1872." I. . Calls limited tolone Penny per Month. Kith a deposit o\ Two Pence per Share oft lApplicaiion PBOVISIOfALDIBECTOBS. ROBBBT OXLEY I PATRICK BBENNAxV John Tbbhnkh*' George VV is e William Gaedljee Chakles Frisek James CoNNOLife B. '&. Gulline P. Q Caples • j M athew Btb wb Fbabk Hamilton Joseph Kj-lgoub Bankees : BANK O# NEW 2EAL VND. I Solicitor : JAMBS LYNCH, Esq. f ECEETABY : HENRI GKU. HANEIN. OBJECTS (IF THE COMPANY. In Bubmittim the proposed undertaking for the approvil of the general- public, and more especial! j the 'inhabitants, of the district-, whose i itereslß. must necessarily be directly benefit* 1 by the impulse given to a further developn ent of the hidden wealth of the field, and a a sequence the increased circulation of c ipifcal loeaUy, the projectors have every con, dence in its successful issue —which in the ir.st place may be attributed in a verj large c egree to the widely expressed opinions of ava iety of experts— first among whom may be mentioned the namo of Dr. Hector, Government Mineiologist, &c. who says, that the t instruction of such a tunnel c»nnot fai\ to ir tersect numerou * golden and other valuable n etallic lodrs ; the local mine erological prodi cts of tbo neighbourhood fully justifying ! he assumption of their exstence in well- < efined strata at a depth obtainable by the p -oposed scheme." Secondly : By the imineasi rably superior advantages of profitably worki >g many lines of reef now in abeyance by ieo ion of the exceptional^ high rates attending the production of otherwise payable stone by companies of limited capital ; 'thirdly— from t c fact of the Government recpgni&ing "at the instance and repom* mendation of th< ir Engineers "the importance and value of the work, as a means to a great public good, by varan teeing a subsidy of £ for £ of capital subscribed by the public — fncts that may h > generally accepted asstiong elements in suf port of the lona fides, and decided ultimati success ot the venture, in addition to whi h a further and liberal con» cession has been i lade in granting the coaipany right to 600 feet n width on either eide of the entire lengtli of me proposed tunnel outside of vested interests,! and as nine distinct and separate lines ofl gold»bearing reef traverse the company's cllim at a right angle, or thereabouts, apart flom any others not visible, which by reasonable inference may bo met with, it may bp fairly characterized as a highly promisinglspeculation. A still further addition to the anticipated profits is represented by a tariff In haulage for other com* panics, estimated! at, Bay, 10 per cent over working expenses! There is a distance of. three-quarters of a mile of unoccupied land from the starting point, through wlich several of the known lines of reef traveise, " The company prapose to drive a tuhnel from the right to the left hand branch of the In* angabua river, a tlrough distance of some two and a-half miles, and thereby intersecting a perfect netwojk of gold-bearing reefs ; a number of which kave been partially worked on the surface only, but with- payable results, which, on tile extension of the pros posed tunnel would! be 'at once turned to profitable account, Is many of them would be tapped at depths! ranging from 1500 feet downwards from the outcrops, ensuring an unlimited supply of gold-bearing stone, which by a thus reduoed cost of production cannot, in the opinion of Jthe projectors, fail to leave a very handsome margin of profit, The Golden Fleecd Extended Gold Mining Company, whose lease is on the proposed line, are at present laising stone from the low level, 700 feet below the outcrop, giving the handsome return! of two ounces to the ton, which is the best! jet obtained from the mine, and may be accepted as indicative of the accuracy of a very prevalent opinion " that the richness of lour quartz lodes increases with their deptl." The maximum of Ollls will be One Penny per share per month, Ihus affording an opportunity to all classes of participating in the venture by the limitation of liability to a minimum. I A iifteen-head statnaer battery is erected immediately contiguous to the tunnel's mouth, available for Brushing any stone obtained. I As a mining speculation, it presents direct and prospective adydltages seldom met with in kindred ventures! as illustrated by the combination referred to,lind still further by recent statistics furnishai to the New Zea* land Government, showing that 108,188ozs. of gold, the yield of 156,a62 tons, representing an average of 13d\vls. 19 grs., or nearly 14 dwts. per ton have bleu obtained by the various company's that Imve been, and are at work on the lines of reeflproposed to be intersected. Taking the Money value per ton £2 12s Bd, a clear profit olf £1 ss, per ton can be secured, allowing the cpt of production to be divided thus—^'crushinf by wa^er power, ss. per ton ; cost of raiang stoDe, 10s 6d, per ton ; wear, tear, management, and contingencies, 12s 6cl. Total, fll 7s Bd, leaving a balance of £1 5s to be divided as profit. In conclusion, the pro- actors with every confidence assert tbat a in ire genuine mining venture, and one possess ng the same elements to achieve success las Beldom, if ever, been put on the market. PROSPECTUS ANI » FORMS OF APPLICATIONS . TOR SHARES TO HE OBTAINED FROM THE UNDERSIGNED. HENRY GEO. HANKIN, Secretary.