Page 3 Advertisements Column 4

Inangahua Times, Volume II, 8 September 1880, Page 3

PROSPECTUS OF THE TNAFGAHUA LOW LEVEL TUN--1 NKL GOLD MI.\ T I>G COMPANY, LIMITED, REKFTON. CAPITAL ..." £l2oo ° In 24000 Shares; of 10s. Ea ;b. To be Registered otUbths Protons of " The Mihik* Companies Acts, 1872." Calls limited to Om^enmj per Month Kith a deposit of Two Pence per Share on Application PttOVISIONAJymRECIOBS. Robert Oxley Patrick Bkennan John Trennebt Geoege V\ise William Gardnee Charles Fraseb James Connolly R.K.Gulline P. Q CAPLES MATHEW i^YHNE Fbank Hamilton Joseph Kjiooub BaNKEES : BANK OF NEW ZEALAND. Solicitor : JAMES LYxNOH.EtQ. Secretary : HENRY GKO. HA.NKIN. OBJECTS OFTHE COMPANY. In submitting the proposed und-rtakirg for the approval of tlie general public, and more especially the inhabitants of the district, whose infr-res'b must necessarily be directly benefited by the impulse given to a further development ol the hidden wealth of the field, and as a sbquence the increased circulation of capital/ locally, the projectors have every conOdenca in its successful issue — which in the first place may be attributed in aver} large degree jto the widely expressed opinions of a variety pf experts — first among whom may be mentioned the namo of Dr. Hector, Government jMinerologisf, &c. who says, that' 1 the constraition of such a tunnel cannot fail to intersecjt numerous golden and other valuable metallic lodt-s ; 'the local minerological products pf the neighbourhood fully justifying the assumption of ih' ir exstence in well-defined strata at a depth 00---tainuble by the proposed scheme." Secondly : By the immeasurably superior advantages of profitably working many lines of reef now in abeyance by leuson df the exceptionally high rates attending the production of otherwise payable stone by companies ot limited capital ; thirdly — from the filet of the Government recogniting "at the! instance and recommendation of their Engineers " the importance and value of the wort, as a means to a great public good, by guaranteeing a subsidy of £ for £ of capital subscribed by the publio— facts that may be geijerally accepted as stiong elements in support] of the bona fides, and decided ultimate Bijccess ot the venture, in addition to which af further and liberal cons cession has been madt 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, anil as nine distinct and eeparute lives of gild-bearing reef triverse the company's claimlat a right angle, or thereabouts, apart fronj any others not visible, which by reasonably inference may be met with, it may be ftirly characterized as a highly promising speculation. A still further addition to the anticipated profits is represented by a tariff onf haulage for other com* panics, estimated at, say, 10 per cent over working expenses. I There is a distaice of three-quarters of a mile of unoccupied land from the starting point, through whfch several of the known lines of reef travense. 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 whici have been partially worked on the surface only, but with payable results, whioh, oulthfl extension of the pro» posed tunnel would be at once turned to profitable account, as many of them would be tapped at deaths ranging from 1500 feet downwards from the outcropo, ensuring an unlimited supply of gold bearing stone, whioh by a thus reduc d cost of production cannot, in the opinion of the projectors, fail to leave a very hai Ssome margin of profit, The Golden ! fleece .Extended Gold Mining Company, w lose lease is on the proposed line, are-it present raising stone from the low level^7oo fe st below the outcrop, giving the handsome Return of two oui:cvs to tlie ton, which is thl best yet obtained from the mine, and may be accepted as indicative ol the accuracy ofl a very prevalent opinion " that the richness of our quartz lodes increases with their depth." The maximum of Calls will be One Penny per share per n onth, thus affording an opportunity to all classes of participating in the venture by tJe limitation of liability to a minimum. A lifteen-hea< stamper battery is erected immediately co itiguous to the tunnel's mouth, availubl lor crushing any stone obtained. As a mining speculation, it presents direct and prospectivtj advantages seldom met with in kindred Ventures, as illustrated by the combination referred to, and still further by recent statistics jfurnished to the New Zea« land GoyernmeJt, showing that 108,188ozs. of gold, the yiela of 156,862 tons, representing an average if 13dwts 19 grs., or nearly 14dwts per tod have been obtained by the various companyjs that have been, and are at work On the line! of reef proposed to be intersected. TakuL; the iconey value per ton £2 12a Bd, a cleaFprofit of £1 ss. per ton can be spcured, allowing the cost of production to be divided thus-— jprushing by wa er power, ss. per tou ; cost lof raising stone, 10s 6d, per ton ; weur, tear, management, and contingencies, 12s 6d. Total, £1 7s Bd, leaving a balance of £1 5s t* be divided as profit. In conclusion, tlie projectors with every confidence assert tllat a more jeenuine mining venture, and one possessing the same elements to achieve Biiccess has seldom, if ever, been put on the market. peospectusland forms of APPLICATWJSS FOE SHAEES '10 BE OBTAINED FROM THE UNDEESIG&ED. HENRY GrEa HANKIE, Secretary. CHARLES b. JiDWAKIJi", STOREKEE PER Blaell's Point. GOODS PACK* D TO ALL PARTS OF THE DIKICT,