Page 3 Advertisements Column 4

Inangahua Times, Volume II, 23 August 1880, Page 3

PROSPECTUS OFJTHE INAFGAHUA DOW LEVEL TUN. NKL GOLD , MINING COMPANY, LIMIIED, EEEF TON. CAPITAL . ,«T- £12,000 1n.24000 Shards of 103. Ea ;b. '' To be Eeqistekep ttkper the Pensions - '' op " Tap MiNiiro Companies' Acts, 1872."' . "\j.^ Calls limited to On Penny per Month, with a deposit of Tv 0 Pence per Share on App icatlon PROVISIONAI DIRECTORS. RoBEBT OxLEY ] 'aTIUCK BRENNAN John Tbenneby George Wise William Gabdneb (JHAnLEs FnisEß James Connolly B. K. Gulline P. Q. Caples Mathew Pyene Pbank Hamilton J»seph Ejlgoub Bankers : BANK OF NEW ZEAL\ND. Solicitor : JAiIESLYiCH.EsQ. : HENEY GEO[ HANKIN. OBJECTS OF THE COMPANY. In submitting tho proposed undertaking for the approval of thej general public, and more especially the nrihabitants of the' district, whose interests must necessarily be directly benefited by the impulse given to a further development of t le hidden wealth of the field, and as a seq lence the increased circulation of capital lo sally, tho projectors have every confidence it its successful issue — which in the fivst plac may be attributed in aver) large degree to ;he widely expressed opinions of a variety of experts— first among whom may be mentionen the name of Dr. Hector, Government Milerologist, &c. who says, that 1 ' the construction of such a tunnel cinnot fai\ to intersect nsmerou-' golden and other valuable metallic loot s j the local mm» erological products of lie neighbourhood fully justifying the assumption of ihvir exstence in well-defined stbta at a depth obtainable by the proposed soieme." Secondly : ( By the immeasurably superior advantages of profitably working many Ines of reef now in abeyance by reason of thelexceptionallv high ; rates attending the production of otherwise payable stone by companiespf limited capital ; thirdly— from the fact oflthe Government recogni&ing "at the instance and recom* mendation of their Engineers "the importance and value of the work, as a means to a great public good, by guaranteein » a subsidy of, £ for £ of capital subscribed by the publicfacts that may be generally accepted asstiong elements in support of thi bona fides, and • decided ultimate success >t the venture, in addition to which a furthf r and liberal con» cession has been made in gra iting the company right to 600 feet in width om either eide of the entire lengtli of the proposal tunnel outside of vested interests, and as mine distinct and separate lines of gold«bea ing reef traverse the company's claim at a ri« ht angle, or thereabonts, apart from any others not visible, which by reasonable infere ice may be met with, it may be fairly characterized as a highly promising speoulatic n. A still further addition to the anticipated profits is represented by a tariff on haula) c for other com« panics, estimated at, say J lO per cent over working expenses. ' There is a distance of three-quarters of a mile of unoccupied land from the starting point, through which 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 Inangahua 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 only, but with payable results, which, on the extension of the pro* poßed tunnel would be at once turned to profitable account, as 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 reduced cost sf production cannot, in the opinion of tb« projectors, fail to leave a very handsome margin of profit. The Golden Fleece Extended Gold Mining Company, whose lease is on the proposed line, are at present raising stone from the low level, 700 feet below the outcrop, giving the handcorae return pf two ounces to the ton, which is the best vet obtained from the mine, and may be accepted as indicative ot the accuracy of a vary prevalent opinion "that the richness of lour quartz lodes increases with their deptti." The maximum of Galls will be One Fenny per share per monthJthus affording an opportunity to ull classes of participating in the venture by the Imitation of liability to ft minimum. I A fifteen-head stamper battery is erected immediately contiguous to the tunnel's mouth, available ion crushing any stone obtained. I As a mining speculation, it presents direct and prospective advantages . seldom met with in kindred ventures, ag illustrated by the combination referred [to, and still further by recent statistics furnished to the New Zea* land Government, Blowing, that 108.1880Z9. of gold, the yield of 156,862 toue, representing an average of IB dwts. 19 grs., or nearly 14 dwts per ton hare been obtained by the various company's tnat have been, and are at work on the lines of reef proposed to be intersected. Taking Ihe money value per ton £2 12s Bd, a clear profit of £1 s's, per ton can be secured, allowing the cost of production to be divided thus— cjushing by wa'er power, ss. per ton ; cost If raising stone, 10s 6d, per ton ; wear, teail management, aud contingencies, 12s 6d. 1 )tal, £1 7s Bd. leaving a balance of £1 5s tc be divided as profit. In conclusion, tl a projectors with every confidence assert tl at a more genuine mining venture, and one )ossessiog tho same elements to achieve si ccess has seldom, if ever, been put on the mi 'ket. PROSPECTU& AND FORMS OF APPLICATI 7NS FOR SffARES 20 BE OBTAINED FROM THE UNDERSIG WD. HENRY C Ea HANKIN, Secretary. CHAKLES H. JiDWAIiDS, STOEEKEB PER p; ' Black's PdiW. GOODS PACKED TO ALL PARTS OF THE DIIUCT.