Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 13 September 1880, Page 3

PROSPECTUS i OF THE INAFGAIItTA LOW LEVEL TUNKEL OOLD MINING COilPAKY, LIMITED, REEFfOff. CAPITAL .„ £12,000 In 24000 Shares of 10s. Ea :h. To be TJkgistilked under thk PBcrrsioN« ov " The Mining- Companies' Acts. 1872." Calls limited] to One Penny per Month, with a deposit of Two Pence per Share on Application PROVISIONAL DIRECTORS. Hubert Oxlkt I'athick I3kkxnan •Joiin Teenniehy Gkokgi-: Wisb William Gardner Ciiaklrs Fkweb James Connolly !»• I- Gdm<tni3 P. Q CAPLUs MATHEW bYRNE Feakk Hamilton Joseph Khqoub IBANKEttS : OF JNEW ZEAL\ND. SoLiciT-m : IESLY.n'CH.E.q. i-ECRF.TAUY : 3Y GKO. HA.XKIN. i ofl^e company. In Bubmi me the proposed undertaking for the upp oval of the general public, and more cspeci illy the inhabitants of the district, who** 'int-rests must necessarily be directly lu'iictttt-rl by the impulse given to a further devel ipmcnt of the hidden wealth of the field, am as a sequence the increased circulation o' capital locally, tho projectors have every onfideiu'e in its successful issue — which in t c first place may be attributed in a yen hirj c degree fo the widely expressed opinions ol i variety of experts — first among whom may >o mentioned the name ot Dr. Hector, Govjrnment Minerologist, &c. who says, that'" t le construction of such a tunviel c-mnot fai\ tc intersect numerous golden and other vnluab c metallic lodi-s; the local mm* erological pioducts of the neighbourhood fully 'justifying the assumption ofih'ir esstence in we 1-deQned stru a at a depth obtiiinuble by tl c proposed sehiine." Secondly : By the imrnt isurubly supeiior advantages of prorilably w( rking many lines o»" reef now in abeyance by leason of the exeepUonaliv hi»h rates attending the production oi otherwise payable Ptonelby companies of limited capital ; thin'lv — !rom| the fact of the G-overnaient r.-cogiiiting "lat the instuiue and recoinmoiidufion ofl'.ieir Eugincers " the importance and value o! tjlse work, as a mean* to a great public good, blv guaranteeing a subsidy of £ for £ of capitlil subscribed by the public— ficts that muj be generally accepted asstiong elenu'iits in iLpport of the hona fides, and decided ultiuilto success ot the venture, in addition to wiiich a further and liberal cons cession has beeh mads in grunting the coaipany riglit to GOO felt in width on either side of the entire lengtli of the proposed tunnel ouiside of vested interests, and as nine- riUtinct ana 1 Ecpamte lives bf gold»beai-ing reef traverse the company's flaim at a right angle, or thereabouts, apart I from any others not visible, which by reasonable inference may be met with, it may Ibe fairly characterized a3 a highly promisinjg speculation. A still further addition to the Anticipated profits is represented by a tariff I on haulage for other com« ponies, estimated at, cay, 10 per cent over working expense*. There is a diltance of three-quarters of a mile of unoccu||ied land from the starting point, through *hich several of the known lines of reel traijerse. The company jjropose to drive a tunnel from the right to the left hand branch of the Inangahu'i river, al through distance of some two und a-half n|iles>, and thereby intersecting a perfect uetwotk of gold-bearing reels ; a number of whicjh have been partially worked on the surface cjn'y, but with payable results, which, on the extension of the prow potted tunnel would be at once turned to profitable account, os many of them would be tapped at depjhs ranging from 1500 leet downwards Iroiu I the outcrops, ensuring an unlimited supply of gold-bearing stone, which by a thus reduced cost of production cannot, iv the opinion df tho projectors, fail to leuve a very hnndpome margin ot profit, The Golden Uljece Extended Gold Mining Company, whose lease is on the proposed line, are at . present raising Btone from the lo.v level, 700 feetj below the outcrop, giving tho handi-ome return of two ounces to the ton, which is the test yet obtained from the mine, and may del accepted as indicative ot the accuracy of a very prevalent opinion " that the richnesl of our quartz lodes increases with their flepth." The maximum j>f Calls will be One Penny per share per month, thus affording an opportunity to all classes of participating iv the venture by tha limitation of liability to a minimum. j A iil'teen-head stamper battery is erected immediutt-ly contiguous to the tunnel's mouth, available uor crushing any stone obtained. j As a mining speculation, it presents direct and prospective jadvantages seldom met with in kin ! red ventures, as illustrated by the combination relerrtjd to, aud still further by receut statistics furnished to the New Zea'» land Government, showing that 108,lSSozs. oi gold, the yield ol 156,862 tons, representing an average of I3dwlß 19 grs., or nearly I<l dwts per ton l.lvo been obtained by the various company's flint have been, aud are at work on the lines ol reef proposed to be intersected. Taking Ihe h oney value per tou £2 12s Bd, a clear profit oi £1 'oi. per ton can be secured, allowm gjllm cot of production to be divided thu> — clishing by wa er power, ss. per ton ; cost of raining stout;, 10s Gd, per ton ; wear, teurJm inagement, and contingencies, 12s 6d. Ti tal, £1 7<s 8d ? leaving a balance of Zl 5s to )o divided as profit. In conclusion, thi projectors with every confidence assert t!>i t a more genuine mining venture, and one p Jsnessing the Bauio elements to iifhieva 6ii< cess has seldom, if ever, been put on the mai set. PROSPFCTUSIAND FORMS OF APPLICATIONS FOR SNARES '10 JJK OBTAINED FROM THE UNDEItSIGAED. HENRY GfSa HANKIN, Secretary. CHARLIE IfITiiDWAKJJS, STOEBKBB P E It BlJck's Point. GOODS PACKED TO ALL PARTS OE THE PIIIICT.