Page 3 Advertisements Column 4

Inangahua Times, Volume II, 13 August 1880, Page 3

PROSPECTUS OF THB INAFGAHUA Jow LEVEL TUNNEL GOLjl MISI>G COMPANY, LIMMp^REEFrOtf. CAPITAL „M' ,.. ... £12,000 In 24000 Sh&s of 10 *. Ea;h. TO BK RBOIBTBBBI TWDEB THB PbcTISIOKS op " Thb Mi nxct Coiipasibb* Acts, 1872." Carts limited to "he Penny per Month. Kith a deposit of Two Pence per Share on i application. PROVISIoAdL DIRECTORS. ROBBBT OXLET I PaTMCK BHENNAN John Tbennbrtl Geoboe Wisb WILMAM GABDNBB CHABIBS FsiSEB Jambs Connolly! R. K. Gulmnb P.Q Caplbs I Mathew^yenb Fbank Uahiltot Joseph Kilqocb Blnxbbs : BANK OF KEW ZEALAND. qOLICIToB : JAMES JLY.NCH,E>.q. HENRY (fKO. UANKIN. OBJECTS OF] THE COMPANY. In submitting tne proposed undertaking for the approval of the general public, and more especially tie inhabitants of the district, whose interests must necessarily be directly benefited byl the impulse given to a furlheitfevelopmentlof the hidden wealth of the flnd, and as a I sequence the increased circulation of capitll locally, the projectors have every conUilenle in its successful issue —which in the first place may be attributed in aver; large degrei to the widely expressed opinions of a variety) of experts — first among whom may be menioned the namo of Dr. Heotor, Government! Minerologiet, &c. who says, that' 1 the eonstrU-tioti' of s,ttch a tunnel cmnotfaiVto interseit numerou* golden and other valuable metallfc lod s ; the local mm* erological products pf the neighbourhood fully justifying the assumption of iheir exstence in well-defiaei strata at a depth obtainableby the proposld scheme." Secondly : By the immeasurably I superior advantages of profitably working many lines of reef now in abeyance by leason on the exceplionallv high rates attending the production of otherwise payable stone by companies of limited oapital ; thirdly— from the face of the Government recognising "at the Instance and recommendation of their Engineers " the importance and value of the workJas a means to a great public good, by guaranteeing a subsidy of £ for £ of capital Bubwitbed ■ by the public— fuots that may "be geneitelly accepted assttong elements in support ol the bona fides, and decided ultimate sucoiss ot the venture, in addition to which a further and liberal conn cession bas been made ingranting the coatpany right to 600 feet in width on either side of the entire length of the proposed tunnel outside of vested interests, and is nine distinct and separate lines of gold-tearing reef traverse the company's claim at alright angle, or thereabouts, apart from ady others not visible, whioh by reasonable inftrence may be met with, it may be faiirljl characterised as a highly promising speculation. A still further addition to the anticipated profits is represented by a tariff on haulage for other com* panics, estimated at, salr, 10 per cent over working expenses. I There is a distance ol three-quarters of a mile of unoccupied land from the starting point, through which several of the known lines of reef traverse. I The company propose to] drive a tunnel from the right to the left band! branch of the In* angabua river, a through J distance of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reefs ; a number of which have bden partially worked on the surface only, but! with payable results, wbiob, on the extension of the proa posed tunnel would be aj .once turned to profitable account, as maiy of them would be tapped at depths ranging from 1500 feet downwards from the outdrops, ensuring an unlimited supply of gold blaring stone, which by a thus reduced cost of production cannot, in the opinion of the projectors, fail to leave a very handsome mahpn of profit. The Golden Fleece Extended Gold Mining Company, whose lease Sis on the proposed line, are at present raisiik stone from the loir level, 700 feet below jhe outcrop, giving the handsome return Of two ounces to the ton, which is the best yet obtained from the mine, and may be accept d as indicative of the accuracy of a very prevalent opinion " that the richness of oui quarts lodes increases with. their depth." The maximum of Calk will be One Penny per share per month, tin s affording an opportunity to all classes >f participating in the venture by the limiti tion of liability to a minimum. A fifteen-head stampei .battery is erected immediately contiguous to the tunnel's mouth; available for ci übing any stone obtained. ■ ,; As a mining ; speculation it presents direct and prospective advant tgea seldom met with in kindred venture*, is illustrated by the combination referred to, a >d still further by recent statistics furnishtH to the New Zealand Government, showin; that 108,188om. of gold, the yield of 156,8 2 tons, representing an average of 13 dwt ■19 grs., or nearly 14 dwts per ton have be n obtained bj the various company's that hi ye been, and are at work on the lines of reef sroposed to be intersected. Taking the m mey value per ton £2 12s Bd, a clear profit o £1 ss. per ton can be secured, allowing the « it of production to be divided tbut— orushinj by waer power, 6s. per ton; cost of rais ag stone, 10s 6d, per ton ; wear, tear, mana ement,and*contingencies, 12s 6d,, Total. £k 7s 8d t leaving a balance of £1 6s to be dii ided as profit. In conclusion, the pro, 'otors with every confidence assert that a m >re genuine mining venture, and one possest ng the same elements to achieve success las seldom, if ever, been put on the market. PROSPECTUS ANi) FORMS OF APPLICATIONSWOR SHARES TO BE OBTAINED FROM THE UNDERSIGNED HENRT Gia HANKIN, Secret ry. - ■- - ; OHAItIiES H. KDWAUDS, ST6 If KB B PB R Black's Joint. GOODS PACKED TO ALL PARTS op the; diiuct.