Page 3 Advertisements Column 3

Inangahua Times, Volume II, 27 August 1880, Page 3

PROSPECTUS or he INAFGAIIUA L( W LEVEL TUN- . NEL GOLD MIS^G COMPANY, LIMITI D, REEFrON". CAPITAL ... £12,000 In 24000 Share! of 10s. Ea2b. TO BE EEGISTEEED VI DEB THE PuoVtslONS 01? " Thb Mmm g Companies' Acts, 1872." Calls limited to Ont Penny per Month, tcith a deposit of Tut Pence per Share on App ication PROVISIONA \ DIRECTORS. Robert Oxlet 'atiuck Brennan John Teenneht Jeoege Wise William Gardner Jharles Fraseb James Connolly '. I. E. Gulline P. Q Caples Jathett Byhne Fbank Hamilton « oseph Kilgoub Bank sbs : BANK OF NE V 'ZEALAND. Soli itob : JAMES LYNCH, E?Q. Fecbe 1 art : HENEY GE( . HANKIN. OBJECTS OF T IE COMPANY. In submitting the proposed undertaking for the approval of t c general public, and more especially the; 'inhabitants of the district, whoso interest must necessarily be directly benefited by t ie impulse given to a further development ol the hidden wealth of the field, and as a s quence the increased circulation of capita^ ocally, the projectors have every confidence n its successful issue —which in the first pi cc may be attributed in a verj large degree i > the widely expressed opinions of a variety \ experts— first among whom may be ment| led the namo of Dr. Hector, Government 1 inerologist, &c, who says, that* the constru' tion of such a tunnel cinnot faiVto intersect^ numerous golden and other valuable metallic^ lodes 5 the local mm» erological products 6 the neighbourhood fully justifying the ass imption of iheir exstence in well-defined; strata at a depth obtainable by the proposec scheme." Secondly : By the immeasurably } uperior advantages of prolltably working ma y lines of reef now in abeyance by tenson of ho exceptionally high rates attending the pi iduction of otherwise payable stone by eompa iesof limited capital ; tliitdlj— from the fad of the Government recogni&ing "at the istance and recomn mendation of their Eng ieers " the importance and value of the work, s a means to a great public good, by guaiant >eing a subsidy of £ for £ of capital subset 1 bed by the public— fuots that may be gener illy accepted as stiong elements in support 0 the bona fides, and decided ultimate succ' ss ot the venture, in addition to which a ft ther and liberal conn cession has been made ii granting the company right to 600 feet in wid h on either side of the entire lengtli of the pro >osed tunnel outside of vested' interests, and as nine distinct and separate lines of gold bearing reef traverse the company's claim at » right angle, or thereabouts, apart from ny others not visible, which by reasonable ii ference may bo met with, 1 it may be fail y characterized as a highly promising speci lation. A still further addition to the anticip ted profits is represented by a tariff on h tillage for other com* . panics, estimated at, say, 10 per cent over working expenses. There is a distance of three-quarters of a mild of unoccupied Ii nd from the starting >oint, through which everal 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, a through distance of some two and a-half miles, and thereby interseoting a'jierfect network of gold-bearing reefs ; a number of which have been partially worked on thd: surface only, but with payable results, 'which, on the extension of the pro« posed' tunnel would be it once turned to profitable account, es many of them would be tapped at depths rai ging from 1500 feet, downwards from the 01 tcrops, ensuring an unlimited supply of gold bearing stone, which by a thus reduced cost < f production cannot, in the opinion of the projectors, fuil to leave a very handsome 1 argiu of profit . The Golden Fleece I xtended Gold Joining Company, whose lea 0 is on the proposed line, are at present rai ing stone from the low level, 700 feet beloi the outcrop, giving the handsome return 0 two ounces to the ton, which is the best y it obtained from the mine, and may be acce; ted as indicative of the accuracy of a verr prevalent opinion "that the richness of olr quartz lodes increases with their depth.? The maximum of Calls will be One Fenny per share per month, thiiß affording an opportunity to all classes lof participating in the venture by the limitation of liability to a minimum. I A n'fteen-head stamper battery is ereoted immediately contiguous] to the tunnel's mouth, available lor crushing any stone obtained. I As a mining speculation, it preents direct and prospective advantages seldom met with in kindred ventures, |b illustrated by the combination referred to, aid still further by iecent statistics furnished] to the New Zea« land Government, showinl that 108,188ozs. of gold, the yield of 156,8(12 tons, representing an average of 13 dwls| 19 grs., or neurlj 14 dwta. per ton have beep obtained by the various company's that have been, and are at work on the lines of reef nroposed to be intersected. Taking the mlney value per ton £2 12s Bd, a clear profit ofpl ss. per ton can be secured, allowing the colt of production to be divided thin— crushing] by waer power, ss. per ton ; cost of raising stone, 10s 6d, per ton ; wear, tear, management, and contingencies, 12s 6d. Total, £1 7s Bd, leaving a balance of £1 5s to be divided as profit. In conclusion, the projectors with every confidence assert that a mare genuine mmm" venture, and one possessing the same elements to achieve success las seldom, if ever, been put on the market. I PROSPECTUS ANI I FORMS Ol APPLICATIONS ?OR SHARES TO BE OBTAINE D FROM THE UNDERSIGNED. HENRY GEa HANKIN, SecretaryCHARLES H. STOEEKE 2 PER Black's Boint. . GIOoDsPACKEfcOALL PARTS OF THE DIRICT,