Page 3 Advertisements Column 4

Inangahua Times, Volume II, 18 August 1880, Page 3

FROSPECTU^ CF THE TNAFGAHUA LOW LKVKL/TU^ A "NEL GOLtf MINI>G COMPANY, LIMirKD, KEKFr^X. capita ..,p.. :». 12 ' 000 In >:i 24OCfO ShJre| of 10 3. EmhT,o be Ee^gistere* ot'debthb PB«*f i*io» s of " The' MlKiKiff Sompasib^ Acts, 1872." | ' ;#■"" Calls limited tolOne Penny per : Mi>nt7i Kith a deposit of Two Pence per mare on JApplication l^-.-.-PROVISIONAL 'DIRECTORS. KOBEET OXLEY TATBICK BeENNAN ■John Te-ennerJ George VVisu William Gabp+ee Charles Fs^p James Connoll^ Jt. K- Qvl *™ P O CAPLES I MATHEW I^TRNE Frank Hauiml* J° sEpH IGOUa Bankees :.. _ BAKE OIfNEVV ZEALVND. /SoLICIT'iE : JAMEBLY.NCK,E^q. Hecretaut: HENEY GEO. HAAEIN. OBJECTS CF~THE COMPANY. In" submittine fho proposed undertaking for the approva of the geneval public, and more especially the inhabitants of the district, whos« ii t^resls mu*t necessarily be directly benr-fitet by the impnlsft given to a further develops snt of the hidden wealth of the field, and us a sequence the increased circulation of ci pital local y, tho projectors have every con faience in its successful issue —which in the flnst place may be attributed in aver] large ddgree to the widely expressed opinions of a vai ety of experts— first among whom may be i lentioned the narao of Dr. Hector, Governn ent Minerologisr, &c. who says, that' 1 the cc istru 'tion of suoh a tunnel CMinotfail to int srseet numerous golden and other valuable mi tallic lodes ; the local raine'rolofjical proda ts of the neighbourhood fuliy 'justifying tl c assumption of, ih>ir esstence in well-dlfined strata at n depth obtainable by the prlposed scrreme." Secondly : By the immeasuibbly superior »dvantagesof profitably working many lines of reef now in abeyance by leusjn of the exceptionally high rates attending me production of otherwise payable stone by cl>mpanieap< limited capital ; thirdly— from thl fact of the Government recogni&ing "at |he iustanre and recommendation of thei|Engineers " the importance and value of the vlork, as a means to 4 great public good, by guaranteeing a subsidy of £ for £ of capital subscribed by the publio— fuels that may be Jenerally accepted as sti ong elements in suppdj-t of the. lona fides, and decided ultimate luecess of the venture, in addition to which b further and liberal con« cession has been maAe in granting the company right to 600 feet in *idth on either side of the entire length of the fcroposed tunnel outside of vested interests, aim as nine distinct and separate lines of geldobearing reef traverse ,the company's claim at a right angle, or thereabouts, apart from any othors not visible, which by reasonable inference may be met with, it may be fairly characterized 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, say, 10 per cent overworking expenses. There is a distance of three-quarters of a mile of unoccupied land from the starting point, through which several of the knowja lines of reef traverse. Thft company propose to drive a tunnel from the right to the left hand branch of the Inangahua river, a through distance of 6ome two aud a-half miles, and thereby intersecting a perfect network of gold-bearing reefs; a number of which hare been partially worked on the surface only,! but with payable results, which, on tliel extension of the pros posed tunnel would He at once' turned to profitable account, aa many of them would be tapped at depths ranging from 1500 feet downwards from thejoutcrops, ensuring an unlimited supply of gild-bearing stone, which by a thus reduced cosl of production cannot, in the opinion of tne projectors, fail to leave a very handsoma margin of profit, The Golden Fleece lExtended Gold Mining Company, whose laase is on the proposed line, are at present raising stone from the lov level, 700 feet bellw the outcrop, giving the handsome return pf two ounevs to the ton, which i 9 the best let obtained from, the mine, and may be accapted as indicative 61 the accuracy of a vely prevalent opinion " that the richness of \uv quartz lodes increases with their depthl" The maximum of Calls will be One Penny per share per month, mus affording an opportunity to all classes of participating in the venture by the limitation of liability to a minimum. I A iifteenrhead stamper battery is erected immediately contiguous to the tunnel's mouth, available for pushing any stone obtained. I As a mining speculaliln, ifr pre'ents direct and prospective adv&ltages seldom met with in kindred ventures aB illustrated by the combination referred to,|and still further by recent statistics furnishld to the New Zua* land Government, showmtr that 108,188ozs. of gold, the yield of 156,162 tons, representing an average of 13 d\ws 19 grs., or nearly 14dwts per ton have blen obtained by the various company's that llave been, and are at work on the lines of reeflproposed to be intersected. Taking the Aoney value per ton £2 12s Bd, a clear profit If £1 ss. per ton can be spcured, allowing the (fcst of production to be divided thus — crushing by waer power, ss. per tou ; cost of railing stoce, 10s 6d, per ton ; wear, tear, m-inijgement, and contingencies, 12s 6d. Total, £l 7s Bd, leaving a balance of £1 5$ to be di| ided as profit. In conclusion, the projectors with every confidence assert that a m ire genuine raining venture, and one poseesf ug the same elements to achieve success iaa seldom, if evex % , been put on the market. PROSPECTUS AN. ) FORMS OF APPLICATIONS FOR SHARES TO BE OBTAIN E D FROM THE UNDERSIGNED. J HENRY GEa HANKltfjB Secretary. CHAKLES fl. JbDWAKDS, %? STOEEKEIE PER Black's Point. QOODS PACKED jCO ALL PARTS OF THE DIRICT.