Page 3 Advertisements Column 4

Inangahua Times, Volume II, 3 September 1880, Page 3

PROSPECTUS OF THB ; TNAFGAHUA LOW LI VEL TUN -*- NEL GOLD MIS: NG COMPANY, LIMITED, RE EFrON. CAPITAL ... £12,(XX In 24000 Scares of 10: Ea:b. To BE EbGISTEBED TTNDEBTB 8 Par VISION! of " Thb Mining Com anibs' Acts 1872." Ca!h limited to One Perm t per Month with a deposit of Two Penc per Share on Application PROVISIONAL DIB ECTORB. ROBEBT OXLEY PATBICI BbENNAN John Tbenneby Geobgi Wise William Gabdneb Chablb i Fbaseb James Connolly B. K. G tlline P. Q CAPLE9 MATHE rPYKNE Fbank Hamilton Joseph Kilgoub Bankebs : BANK OF HEW ZE LUND. SOLICITOB : JAMES LYiSCH, S*<j. Secbetaby : HENBY GEO. HA TKIN. OBJECTS OF THE C( MPANY. In submitting the propose 1 undertaking for the approval of the gene al public, and more especially the inhab ants of the district, whose interests must necessarily be directly benefited by the impi lse given to a further development of the hi den wealth ol the field, and as a sequence the increased circulation of capital locally, the projector* have every confidence in its ucoessful issue —which in the first place ma be attributed in averj large degree to the w dely expressed opinions of a variety of exper s— first among whom may be mentioned th name of Dr. Hector, Government Mineral gist, &c. who says, that" the construction of uch a tunnel cannot fai\ to intersect numerous golden and other valuable metallic lodes; the local mum erological products of the neighbourhood fully justifying the assumption of ibeir exstence in well-defined strata at a depth obtainable by the proposed scheme." Secondly: By the immeasurably superior advantages of profitably working many lines o*7reef now in abeyance by teason of the exceptionally high rates attending the production pf otherwise payable stone by companies of limited capital ; thirdly— from the fact of the /Government recognising "at the instance /and recom* mendation of their Engineers " tie importance and value of the work, as a meins to a great public good, by guaranteeing al subsidy of £ for £ of capital subscribed bjl the public — I faots that may be generally aooipted as stiong I elements in support of the bfna fides, and decided ultimate success of the venture, in addition to which a further slid liberal co&a | cession has been made in granting the company right to 600 feet in width on c her side of the entire length of the proposed I innel outside of vested interests, and as ni c distinct and separate lines of gofcUbearit { reef traverse the company's claim at a righl angle, or thereabouts, apart from any ot ers 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 come panics, estimated at, say, 10 per cent ovtr working expenses. There it a distance of three-quarters of a mile of unoccupied land from the starting point, through whioh 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, 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* posed tunnel would be at pnce turned to profitable account, as manyf of them would be tapped at depths ranging from 1500 feet downwards from the outcrops, ensuring an unlimited supply of gold-bearing stone, whioh by a thus reduced cost of production cannot, in the opinion of the projectors, fail to leave a very handsome margin of profit. The Golden Fleece Extelded Gold Mining Company, whose lease il on the proposed line, are at present raising! stone from the low level, 700 feet below toe outcrop, giving the handsome return of two ounces to the ton, which is the best yet obtained from the mine, and may be accepted as indicative of the accuracy of a very prevalent opinion " that the richness of our Iquartz lodes increases with their depth." I The maximum of Calls Will be One Penny per share per month, thus! affording an opportunity to all classes cjf participating in the venture by the limitation pf liability to • minimum. I A fifteen-head stamper I battery is erected immediately contiguous Ito the tunnel's mouth, available i'or crashing any stone obtained. I As a mining speculation! it presents direct and prospective advantages seldom met with in kindred ventures, Is illustrated by the combination referred to, and still further by recent statistics furnished] to the New Zea» land Government, showing that 108,188ozs. of gold, the yield of 156,862 tons, representing an average of 13 dwu 19 grs., or nearly 14 dwts. per ton have be»n obtained by the various company's that hkve been, and are at work on the lines of reeflproposed to be intersected. Taking the money value per ton £2 12s Bd, a clear profit if £1 ss. per ton can be secured, allowing the dost of production to be divided thus— crushing by water power, ss. per ton ; cost of rating stone, 10s 6d, per ton ; wear, tear, management, and contingencies, 12s 6d. : Total, JEI 7s Bd, leaving a balance of £1 5s to be c vided as profit. In conclusion, thf pi »jec tors with every confidence assert t&at a ipre genuine mining venture, and one posse sing the same ele» ments to achieve suocesi has seldom, if ever, been put on the market. PROSPECTUS AJ\ D FORMS OF APPLICATIONS FOR SHARES TO BE OBTAIN. W FROM THE UNDERSIGNEI . HENBY GEOJ HANKIN, Secretary. CHARLES H.JEDWAUDS, stoke ke|e per Black's loint. GOODS PACKED TO ALL PARTS OF THE DIIUCT.