Page 3 Advertisements Column 4

Inangahua Times, Volume II, 17 September 1880, Page 3

PROSPECTUS OV THB INAFGAHUA LOW LEVEL TUNNEL GpLD MINIiSG COMPANY, LIJMITED, REEFTON. CAPITAL 1 512.0 00 In 24000 Shares of 10s. Ea^h. TO BE REGISTEEtD TJNDEE THE PROVISIONS of " Thb Mining Companies' Acts, 1872." 1 Calls limited to [One Penny per Month, with a deposit ok Two Pence per Share on Application PROVISIONAL BIBJECTORS. Robert Oxley I Patrick Beennan John Tbenneuy J George Wise William GabdnJb Chables Fraseb James Connolly R. K. Golline P. Q Caples I Mathew £ybne Fbank Hamilton! Joseph Kilgocb BaAkeks : BANK OF MEW ZEALAND. Solicitor : JAMES IjYNCH, Esq. Secretary: HENRY G|)O. HAJNKIN. OBJECTS OF JTHE COMPANY. In submitting the! proposed undertaking for the approval ofjhe general public, and more especially thd inhabitants of the district, whose interefs must necessarily be directly boneßted by Ihe impulse given to a further development of the hidden wealth ot the field, and as a Sequence the increased circulation of capital! locally, the projectors have every confidencejin its successful issue —which in the first plice may be attributed in averj large degree lo the widely expressed opinions of a variety <B experts— first among whom may be mentiefced the namo of Dr. Hector, Government Minorologist, &c. who says, that 1 ' the construfcion of such a tunnel cannot fai\ to intersect lnumerous golden and other valuable metallic lodes ; the local mm» erological products ofl the neighbourhood fully justifying the assumption of their exstence in well-defined fctrata at a depth obtainable by the proposedJßcheme." Secondly : By the immeasurably sfcperior advantages of profitably working rnant 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 jof the Government recogni&ing "at the instance and recom» mendation of their Engineers " the importance and value of tue work, al a means to a great public good, by guarante ing a subsidy ot £ for £ of capital subscrit ed by the publicfacts that may be genera ly accepted as stiong elements in support of he lona fides, and decided ultimate succee i ot the venture, in addition to which a fur her and liberal con» cession has been made iuj i-anting the company right to 600 feet in width on either side of the entire lengtli of the propc sed tunnel outside of vested interests, and ai nine distinct and separate lineß of gold«b;aring reef traverse the company's claim at a -ight angle, or thereabouts, apart from an ' otherß not visible, which by reasonable infe *ence may be met with, it may be fairly characterized as a highly promising specula ion. A still further addition to the anticipate I profits is represented by a tariff on hau age for other com* panics, estimated at, ea f, 10 per cent ovsr working expenses. f There is a distance of three-quarters of a mile of unoccupied lanfi from the starting point, through which sfeveral of the known lines of reef traverse, f The company propose to drive a tunnel from the right to the left hantl branch of the Inangabua river, a througli distance of some two and a-half miles, and thereby intersecting a perfect network ofl gold-bearing reefs ; a number of which havelbeen partially worked on the surface only, bit with payable results, which, on the extension of the pros posed tunnel would be lat once turned to profitable account, as ipany of them would be tapped at depths ranging from 1500 feet downwards from the outcrops, ensuring an unlimited supply of golp bearing stone, which by a thus reduced cost Jof production cannot, in the opinion of thle projectors, fail to leave a, very handsomelmargin of profit, The Golden Fleece Extended Gold Mining Company, whose lepse is on the proposed line, are at present raising stone from the low level, 700 feet below the outcrop, giving the handsome return Jof two ounces to the ton, whioh is the best Jjet obtained from the mine, and may be accepted as indicative of the accuracy of a vpry prevalent opinion " that the richness of| our quartz lodes increases with their depth." The maximum of Calls will be One Penny per share per month! thus affording an opportunity to all claejes of participating in the venture by the limitation of liability to a minimum. I A fifteen-head stamper battery is erected immediately contiguous to the tunnel's mouth, available for crushing any stone obtained. I As a mining speculation, it presents direct and prospective advantages seldom met with in kindred ventlircs, as illustrated by the combination referred to, and still further by recent statistics fur: ished to the New Zea« land Government, s lowing that 108,188ozs. of gold, the yield of .56,862 tons, representing an average of 1 J dwts. 19 grs., or nearly 14 dwts. per ton ha re been obtained by the various company's tl at have been, und are at work on the lines of reef proposed to be intersected. Taking ihe ironey value per tou £2 12s Bd, a clear pJofifc of £1 ss. per ton can be secured, allowing nhe cosfcof production to i be divided thus— cr ishing by waier power, ss. per ton ; coßt o raising stoce, 10s 6d, per ton j wear, tear, management, and contingencies, 12s 6d. Tc tal, £1 7s Bd, leaving a balance of £1 5s to >c divided as profit. In conclusion, th< projectors with every , confidence assert thi tv. more genuine mining venture, and one j ossessing the same elements to achieve su cess has seldom, if ever, been put on the max iet. PROSPECTUS AND FORMS Ol J.PPLICATK NS FOR SHARED TO BE OBTAINED FROM TEL UNDERSIGJS ED. HENRY G 10, HANKIN, Sec: 'Gtary. CHAHLEST I. EDWARDS, STOREKEE PER Blaekls Point. GOODS PACKED TO ALL PARTIS OP THE) DIRICT.