Page 3 Advertisements Column 4

Inangahua Times, Volume II, 16 August 1880, Page 3

PROSPECTUS OF MB TNAFGAHUA LdW LEVEL TUNA NEL GOLD/ MINING COMPANY, LIMITED, BEEFrON. CAPITAL ...|^ m m In 24000iSliarjbs of 10*. Ea^b. To bk Beoi8TBBEdU»8BTHB Pbovisioks ' of M Thb Mi* ino Companies Acts, 1872." r_ CalU limited to hZ Penny per Month, ieith a deposit qflTwo Penceper Share on Application,. . PROVISIONAL 'DIRECTORS. ROBBBT OXLBT PITBICK BbBNNAN John Tbbnnbbt Gbobgb Wisb Wiiiiam Gabdnbb Chablbs Fbaseb Jambs Connoiiyi B. X* Gcilinb P. Q. CAPtBs , Mathbw Htbnb Fbane Hamilto r Jobbph Kjigoub BkKKEBS : BANK OF tfEJV ZEALAND. r Jolicitob: JAMES LYNCH, Esq. Sicbbtaby: HENKYpBO. HANKIN. OBJECTS OF THE COMPANY. r In submittinij {the proposed undertaking fol the approval of the general public, and more especially (the inhabitants of the district, whose inte/ests must necessarily be directly benefited fj the impulse given to a further development of the hidden wealth of the field, and as/ a sequence, the increased circulation of c/pitol locally, the projectors have every confidence in its successful issue —which in the/first place may be attributed in aver) largeflegree to the widely expressed opinions of a/ariety of experts— first among whom may b» mentioned the name of Dr. Hector, Govewment Minerologist, 4c.. who says, that '* tile construction of such a tunnel otnnot fail tq intersect numerous golden and other valuabfc metallic lodes j the local mm» erological products of the neighbourhood folly justifying the assumption of iheir exstenee in wel-defined strata at a depth obtainable by thej>roposed scheme." Secondly : By the immeasurably superior advantages of profitably worktog many lines of reef now in abeyance by lesson of the exceptionally high rates attending the production of otherwise payable stone by iompanies of limited capital i thirdly— from tht fact of the. Government recogniiing "at Jthe instance and recoD^n mendation of their Engineers " the importance and value of theirork, as a means to a great public good, by guaranteeing a Subsidy of £ for £ of capital Subscribed by the public— foots that may bl generally aeeepted as strong elements in suplort of the iotta fide*, and decided ultimate! success of the venture, in addition to whiol a further and liberal cona cession has been mide in granting the company right to 600 feet inWidth on either side of the entire length of thlproposed tunnel outside of vested interests, and as nine distinct and separate lines of goMUbearing reef traverse the company's claii at a right angle, or there abonts, apart fro* any others not visible, which by reasonable infereuoe may be met with, it may be (fairly characterised as a highly promising speculation. A still further addition to the autilipated profits is represented by • tariff on Viaulage for other com* panics, estimated at\ say,, 10 per cent ov»r wwkmg expenses. There is a distance of three-quarters of a mile of uaoooupied land from the starting point, through whiol several of the known; lines of reef traverse? ■/ The company propose to drive a tunnel from the right to the left hand branch of the In* angahua river, • through distance of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reefs j a number of which have been partially worked on the surface only, but with payable results, whioh, on the extension of the proa posed tunnel would be at once turned to profitable account, as niany of. them would be tapped at depths ranging from 1800 feet downwards from the outcrops, ensuring an unlimited supply of gola-bearing stone, whioh by a thus reduced cost pf production cannot, in the opinion of the projectors, fail to leave a very handsome margin of profit. The Golden Fleece Extended Gold Mining Company, whose lemae is on the proposed line, are at present raising stone from .the low level, 700 feet beu>w the outcrop, giving the handeome return lof two ounces to the ton, which is the bestlyet obtained from the. mine, and may be aolepted as indicative of the accuracy of a very prevalent opinion "that the richness oi oat quarts lodes increases with their deplh;" The maximum of Calls will beOhe Fenny per share per month! thus affording an opportunity to all clasles of participating in the "venture by the limitation of liability to a minimum. . I A fifteen-head stanlper battery is erected immediately contiguous to the tunnel's mouth, available for I crushing any stone obtained. I ; As • mining speculaaon, it pretents direct and' prospective ad vintages seldom met with in kindred ventures, as illustrated by the combination referred tol and still . further by recent statistics furnismd to the New Zea* land Government, shoving that 108,188ozs. of gold, the yield of 156862 tons, representing ah average of IS dJts. 19 grs. r or nearly 14 dwts. per ton have leen obtained by the various company's tbat nave been, and are at work on the lines of reel proposed to be intersected. Taking the money value per ton £2 12s Bd, a clear profit pf £1 ss. per ton can be secured, allowing the post of production to be divided thus — crush Ag by water power, ss. per ton ; cost of raising stone, 10s 6d. per ton ; wear, tear, management, and contingencies, 12s 6d. Total,|£l 7s Bd, leaving a balance of £1 6s to be iivided as profit. In conclusion, the projectors with every confidence assert that ainore genuine mining venture, and one poss ssing the same elements to achieve succei has seldom, if ever, been put on the market PROSPECTUS A. W FORMS OF APPLICATION f FOR SHARES TO BE OBTAIN ED FROM THE UNDERSIGNED. HENRY 6Ed HANKIN, Secretary. OHAKLES H.IeDWAKDS, S T OBE K HE P E R v * 7 Black's Joint. GOODS PACKED TO ALL PAfcTS If OP THE DIBICT.