Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 6 September 1880, Page 3

I "JP^" SFEC TU S JCF THE INAFGAHuJ LOW LEVEL TUN. NEL GCfLD WISING COMPANY, LIMITED, REEF TON. CAPITAL L £12,000 In 24000 Shares of 10s. Ea;h. To be "Registered under the Ps^TrsioNs of " Thb Mining Companies' Acts, 1872." I Calls limited to Cne Penny per Month, vcith a deposit of 7wo Pence per Share ■oi Application. PROVJSL )NAL DIRECTORS. Robert Oxiei Patrick Bkennan John Tuknne t Geobge Wise William Gab >ncr Chaeles Fr\see Jamus Cohkoi ,y R. K. Gulline P. Q Caples Mathew ±<ykne Fbank IJamil on Joseph Kilgoue Bankebs : UANK OP NEW ZEAL IND. i somcitob : JAMISLYiNCH.Esq. Secretary : HENITT GlfiO. 11A.NKIN. OBJECTS )F~~THE COMPANY. In Bubmittin ; tho proposed undertaking for the approvi 1 of the general public, and more especially the inhabitants of the district, whose interests must necessarily be directly benefited by the impulse given to a further development of the hidden wealth of the field, and us a sequence tho increased circulation of capital localiy, the projectors have every confidence in its successful issue —which in the first place may be attributed in a'verj large degree to tho widely expressed opinions of a variety of experts— first among whom may be mentioned the namo of Dr. Hector, Government Minerologisl", &c. wbo says, that " the constru ;tion of such a tunnel cannot fai\ to intersect numerous golden and other valuable metallic lod.s ; the local min* erological products of the neighbourhood fully justifying tho assumption of ihrir 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»' reef now in abeyance by leason of the exceptionally high rates attending the production of 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 " the importance and value of the work, as a means to a great public good, by guaranteeing a subsidy of £ for £ of capital by the public— facts that may Ie generally accepted as stiong elements in support of the bona fides, and decided ultimate success ot the venture, in addition to wiich a further and liberal cons cession has been made in granting the company right to 600 feet in width on either side of the entire length of the proposed tunnel outside of vested interests, and as nine distinct and separate linesTof gokUbearing reef traverse the company'aclaira at a right angle, or thereabonts, apart Xirom any others not visible, which by reasonable inference may bo met with, it may b\ fairly characterized as a highly promising Speculation. A still further addition to the anlicipated profits is represented by a tariff an haulage for other com* panics, estimated/ at, Bay, 10 per ceut ov&r working expenses! There is a distance of three-quarters of a mile of unoccuped land from the starting point, through wfcich several of tho known lines of reef travelse. The company propose to drive a tunnel from the right to the lefn hand branch of the Inangahua river, a through distance of some two and a-half milei, and thereby intersecting a perfect networ iof gold-bearing reefs ; a number of which h ye been partially worked on the surface only but with payable results, which, ou th » extension of the pros posed tunnel would be at once turned to profitable account, s many of them would "be tapped at depths ranging from 1500 feet downwards from th s outcrops, ensuring an unlimited supply of ;oldbearing stone, which by a thus reduced c sfc of production cannot, in the opinion of the projectors, fail to leave a very handsome margin of profit, The Golden Fleeifc Extended Gold Mining Company, whosellease is on tlie proposed line, are at present {raising stone from the low level, 700 feet below the outcrop, giving the handsome returi of two ounces to the ton, which is the best yet obtained from the mine, and may be alcepted as indicative oi the accuracy of a lery prevalent opinion " that the richness oF our quartz lodes increases with their death." The maximum of palls will be One Penny per share per montll thus affording an opportunity to all clasjes of participating in the venture by the Imitation of liability to a minimum. I A tifteen-head stanper battery is erected immediately contiguous to the tunnel's mouth, available loi crushing any stone obtained. I As a mining speculition, it presents direct and prospective advantages seldom met with in kindred ventmrea, as illustrated by the combination referred Ito, and still further by recent statistics furrished to the New Zea» land Government, el swing that 108,188ozs. of gold, the yield of ] 56,862 tons, representing an average of lc dwts 19 grs., or nearly 14 dwts per ton ha? > been obtained by the various company's tb t have been, and are at work on the lines of eef proposed to be intersected. Taking t c money value per tou £2 12s Bd, a cl< ar pn fit of £1 ss. per ton can be secured, allowing t ie cost of production to be divided thus — cru liing by wa er power, ss. per tou j cost of raising stone, 10s 6d, per ton ; wear, tear, i lanagement, and contingencies, 12s 6d. Tofil, £i 7s 8d ; leaving a balance of £1 5s to Be divided as profit. In conclusion, tha projectors with every confidence assert that a more genuine mining venture, and one nossessing tlie same elements to achieve siacess has seldom, if ever, been put on the market. PROSPECTUS AM) FORMS OF APPLICATIONS FOR SHARES 10 BE 081 LINED FROM THE UNDERSIG \~ED, HENRY C Bo! HANKIN, Se iretary. OHAKLES H. JiDWAKDS, STORE;KEE PER Blaik's Point. - GOODS PACKED TO ALL PARTS OF THE DI'IICT,