Page 3 Advertisements Column 4

Inangahua Times, Volume II, 25 August 1880, Page 3

PROSPECTUS I OF THE TNAFGAiIIJA LOW LEVEL -TUN--1 JSEL GDLD ■MINING COMPANY, LIMITED, REEFiON. SSvtal L~~.- ... 00 ° In 24000 Chares of 10s. Ea;b. To be RegistAed under the Provisions of " The IMinisg Companies' Acts, 1H72." I Calls limited \o One Penny per Month, uith a deposit of Two Pence per Share on Application. pROriSWJSrjI DIRECTORS. Robert Oxle* „., Patrick IJrenhas John Teennel<y Geokge W isjj Whliasc Gabbmjeb Charles Fiuseb Jambs ConnoJly R- 'K. Gulltne P. Q Caples I Mathew Bykne Fbakk HamiJton Joseph KilgoubI Bankebs : BAKE CJF JNEVV ZEALVND. I Solicitor : JAMES LY.NCH,E>Q. If-ECRETAEY: HENEK GEO. H/INZIN. OBJECTSIOF THE COMPANY. In submittir? the proposed undertaking for the approval of the ceneml public, and more especially the inhabitants of the district, whose infr-resis must necessarily be directly benefi ed by the impulse given to a further develo inent of the hidden wealth of the field, and as a sequence the iucreused circulation of capital locally, the projectors have every- cc ifidence in its successful issue —which in th< first place may be attributed in a verj large degree to the widely expressed opinions of a ariety of experts— first among whom may b mentioned the naoio of Dr. Hector, Govo linent Minerologist, &c. who says, that' 1 th construction of such a tunnel cannot fai\ to nterseet numerous golden and other valuable metallic lodi-s ; the local m inn erological pro lucts of the,' neighbourhood fully "justifyin) the assumption of their exstence in well defined strata at a depth obtainable by tin proposed schflme." Secondly : By the immes >urably superior advantages of profitably woi ting many lines of reef now in abeyance by > sason of the exeeptionallv high rates attendh g the production of otherwise payable stone 1 y companies ol limited capital ; thirdly— from the fact of the Government recogniting " t the instance and reeom* mendation oft leir Engineers "the importance and value of t c work, as a means to a great public good, bl guaranteeing a subsidy of £ for £ of capitil subscribed by the public— fucts that majjbe generally accepted asstiong elements in support of the bona fides, and decided ultimate success ot the venture, in addition to winch a further and liberal con« cession has beeJ mads in granting the company right to 600 fee ; in width on either side of the entire lengtli o( the proposed tunnel outside of vested interest , and as nine distinct and separate lines f gold-bearing reef traverse the company's laim at a right-angle, or thereabouts, apart from any others not visible, which by reasc lable inference may bo met with, it may be fairly characterized as a hijjhly promisii g speculation. A still further addition to the inticipated profits is represented by a tarifi on haulage for other corn* panics, estimated at, say, 10 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. Tho company propose to drive a tunnel from the right to the left hand branch of the Inangahun rirpr, a through distance of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reels ; a number of whiih have been partially worked on the surface Inly, but with payable results, which, on! tha extension of the pro« posed tunnel womld be at once turned to profitable accoulit, oa many of them would be tapped at deiths ranging from 1500 feef downwards from] the outcrops, insuring an unlimited suppliof gold bearing stone, which by a thus redufld cost of production cannot, in the opinion! of the projectors, fail to leave a very haldsomo margin of profit. The Golden Fleece -Extended Gold Mining Company, whose lease ia on the proposed line, are at present raising stone from the low level, 700 llet below the outcrop, giving the handsome return of two ounces to the lon, which is tlie best yet obtained from the mine, and maylbe accepted as indicative ol the accuracy df a very prevalent opinion " that the richness of our quartz lodes iucreases with their depth." The maximlm of Culls will be One Penny per share per monlh, thus affording an opportunity to a I classes of participating iv the venture by the limitation of liability to a minimum. A h'l'teen-h« id stamper battery is erected immediately iontiguous to the tunnel's mouth, uvuilu le i'or crushing any stone obtained. As a mining speculation, it pio=ents direct and prospect ye advantages seldom met with in kindrc t ventures, as illustrated by the combination referred to, and still further by lecent statistiife furnished to the New Zea'« land Government, showing that 108,188ozs. of gold, the yi(lld of 156,862 tons, representing an averugel of 13 dwis 19 grs., or ncarlv 14 dwts per tin have been obtained by the various compaily's that have been, and are at work on the lines of reef proposed to be intersected. Taang the Dioney value per ton £2 12s Bd, a cllar profit of £1 ss. per ton can be secured, nllolving the cost of production to be divided thul — crushing by wa'er power, ss. per ton ; east of raising store, 10s 6d, pin- ton ; wear, tear, management, and contingencies, 12s 6dJ Total, £1 7s Bd. leaving a bu.lance.of £1 sfc to be divided us profit. In conclusioil the projectors with every confidence assert that a more genuine mining venture, und one possessing the same elements to aehievl success has seldom, if ever 5 been put on the Liurket. PROSPECTUS AND FORMS OF APPLICATIONS FOR SHARES 10 BE OmVAINED FROM TEE UNDERSIGNED. HENRYGEa HANKIN, Secretary. GHAKJU|2a H. EDWAUDS, 5 f STO RIE KEi PE R Blkck's Point. JJ&&BfcPACKED TO ALL PARTS : r ■•■'■■■ //,.V^>^«v