Page 3 Advertisements Column 4

Inangahua Times, Volume II, 20 September 1880, Page 3

PR.OSPECTUS I CV THE INAFGAHUA LOW LEVEL TUNNEL GOLD UWIhG COMPANY, iWITED, HEEFL'ON. CAPITAL L~. .» £12 - 000 Iu 24000 phares of 10s. Ea.'h. To be "Registered todekthe Pb^ yrsioss of " Thb mining Compasies Act.', 1872." \ Calls limited A One Penmj per Month, Kith a deposit qY Two Pence per Share on Jlpplication PROVISIONAL DIRECTORS. Robert Oxlet 1 Patbick Brbnnas John Teenneky | Georou Wise William Gakdneli Charles Ijiuseb Jambs Connolly R. W. Gplline P. Q Caples Mathew Fbakk Hamilton Joseph Jj.ilgoub BA:fKEBS : BANK OF JSEVV ZEALAND. SC LICITOB : JAMES IYNC II, Esq. tETAUY : HENRY Gko. iiAiNEIN. OBJECTS OF THE COMPANY. In submitting Ihl proposed undertaking for the approval ofltue general public, and moro especially thb inhnbilants of the district, whose interAfa must necessarily be directly beni-Qfced byltho impulse given to a furlher development If the hidden wealth of the field, and as a feequence the increased circulation of capital locally, tho projectors have every confident* in its successful issue —which in the first ylaco may be attributed in averj large degreelto the widely expressed^ opinions of a variety bf experts— first among' whom may be mentioned the name of Dr. Hector, Government JMiuei-ologisr, &c. who says, that '• the constriction of such a tunnel cannot fai\ to intersect numerous golden and other valuable metalliJ lodes ; the local nnn« erological products df the neighbourhood fully "justifying the siifeumption of ilu-ir exBtcnce in well-defmecl strata at a depth obtuinuble by the proposal scheme." Secondly : By the immeasurably Isuperiov advantages of profllubly working luJny Hr.es of reef now in abeyance by louson oljthe exceptionally high rates attending the production of otlierwise payable stone by compJniesoi limited capital ; thirdly— from the lack of the Government recooniting "at the Instunce and recommendation of their Engineers " the importance and value of the work, las a means to a great public good, by guamnleeing a subsidy ot £ for £ of capital subscribed^ by the publicfacts that muy be geueifelly accepted as stiong elements in support o: the bona fides, and decided ultimate succ !ss ot the venture, in addition to which a ft rther and liberal concession hns been mad3 it granting the company right to 600 (eet in wid h on either side ot the entire longtii of the pro losed tunnel outside of vested interests, and as nino distinct and separate lines of gold, bearing reef tiuverse the company's claim at i right angle, or thereabonts, apart from any others not visible, which by reasonable in erence may be met with, it mny be fuh-lp characterized as a highly promising specu ation. A still further addition to the anticipa ed profits is represented by a tariff on hs ilage ior other com* paniea, estimated at, lay, 10 per cent over working expenses. There is a distance >f three-quarters of a mile of unoccupied la id from the starting point, through which leveral of the known lines of reef traverse. Tho company propose to drive a tunnel from the right to the left ha id branch of tho In- ! angahua river, a throu ;h distance of 6ome two and a-half miles, s nd thereby intersecting a perfect network of gold-bearing ree/'s ; a number of which hav< been partially worked on the surface only, but with payable results, which, on tho extension of the pros posed tunnel would be at once turned to profitable account, os nany of them would be tapped at depths r; nging from 1500 !eet downwards from the < utcrops, ensuring au unlimited supply of gol 1 bearing stone, which by a thus reduced cost of production cannot, in tho opinion of tie projectors, fail to leave a very handsome margin of profit. The Golden Fleece Extended Gold Mining Company, whose le ise is on the proposed line, are at present rinsing stone from the low level, 700 ftet belc w the outcrop, giving tho handsome return oi two ounces to the ton, which is the best pet obtained from the mine, and may be acci pted n» indicative ol the accuracy of a ve :y prevalent opinion " that the richness of >ur quartz lodes iucreases with their deptl ." The maximum of C lls will be One Penny per share per month, hus affording an opportunity to all claese i of participating iu the venture by the lin itation of liability to a minimum. A lifteen-head Etam >er battery is erected immediately contiguo is to the tunnel's mouth, available for crushing any stone obtained. As a mining specula ion, it presents direct and prospective adv images seldom met with iu kindred ventures, as illustrated by the combination referred ti, and still further by lecent statistics furnished to the New Zea*« land GoFerniiieut, shoving that 108,1880z3. of gold, the yield ol 15*,862 tons, representing an average of 13 dlvis 19 grs., or nearly 14 dwU. per ton have Jbeen obtained by the various company's that have been, and are at work on the lines ol re f proposed to bo intersected. Taking tho noney value per tou £2 12s Bd, a char profi of £1 ss. per ton cun be secured, allowing fh< eo?t of production to be divided thu: — crush ing by wa er power, ss. per tou ; cost of i using stoue, 10s 6d, per ton ; wear, teur, iiu nagement, and contingencies, 12s 6d. Total! Hi 7s 8d ? leaving a balance of £1 5s to be Jdivided as profit. In conclusion, the ttrojectors with every eoiilider.ee assert that uj more genuine tniniu» venture, and ono possessing the same elements to achieve succela has' seldom, if over , been put ou the market. PROSPECTUS Ap^D FORMS OI APPLICATIONS FOR SHARES 10 BE OBTAINED FROM THE UNDERSIGNED. HENRY GM). HANKIN, Secretary. OHAKLES hTeDWAkI)^ STOEEHEE PER Black's Point. GtOODS PACKEB) TO ALL PARTS OF THEfPIKICT,