Page 3 Advertisements Column 4

Inangahua Times, Volume II, 22 September 1880, Page 3

PROSPECTUS OF THE TNAFGAHUA LOW LEVKL TUN- -^ NEL GOLD MISIbQ COMPANY, LIMITED, REEFrON. CAPITAL .„ £12,000 In 24000 Shares of 10s. Ea.'h. to be t?egtstebei> ttsdertde ph'-vfo'ions 01? " Thb Mining Companies' Acts, 1872." I ___ Calls limited to [One Penny per Monthicith a deposit q/j 1 Two Pence per Share on Application PROVISIONAL DIRECTORS. Robert Oxley Patrick Bkeknax John Trennery Geobge Wise Wit ham Gardner Charles Prases Jambs Connolly li. V- Gttliine P. Q CAPLES MaTHEW I'YKNE Fuank Hamiltoit Joseph Kilgoub BiNKEBS : BANK OF NEW ZEALAND. S )LICITOB : JAMES jY.NOH,Ef«. ?E»!EETABY: _ HENEY ( KO. HANKIN. OBJECTS OF THE COMPANY. In submitting t c proposed undertaking for the approval 0 f the general public, and more especially tie inhabitants ot the district, whose into estß must necessarily be directly benefited b\ the impulse given to a further development of the hidden wealth of the field, and as al sequence the increased circulation of capitol locally, the projectors have every confidence in its successful issue whicb in the firs J place may be attributed in aver? lavgs degree to the widely expressed opinions of a varietj of experts — first among whom may be mentioned the natno of Dr. Hector, Government Mineralogist, &c. wbo says, that" the construction of such a tunnel o-mnot fatt to intersect numerous golden uud other valuable metallic lodes ; the lecal mm* erological products lof tbe neighbourhood fully "justifying the Assumption of \hfii 1 exstence in well-defindd strata at a depth obtainable by the proposed scheme." Secondly : By the immeaeurabW superior advantages o( profitably working njany Hoes of reef now in abeyance by tetison dl the exceptionally high rates attending the Iroduction of otherwise puyuMe ftone by comdaniesol limited capital ; thirdh— 10m the it ct of the aovßrnment recogiiiting "at tbe instance and recommendation of their En gineers " the importance and value of the worl , as a means to a great public good, by guaia iteeing a subsidy ol £ for £ of cupilul subs ribed by the public— fids that m;iy be gen Tally accopted as stiong elements in support »f the bona fides, and decided ultimate eudcess ot the venture, in addition to which a further and liberal cons cession has been made In granting the covnpany right to 600 feet in wiflth on either side of ! .he entire lengtli of the proposed tunnel ouiside of vested interests, and I us nina distinct and separate lines of gold-bearing reef Inverse the cotrpany's claim a| a ri»ht angle, or thereabouts, apart from any others not visible, which by reasonable inference may bo met with, it may be fiiiify characterized as a highly promising epeci lation. A still further addition to tlie anticip ted profits is represented by a tariff on h mlage for other com* pauies, estimated at, say, 10 per cent over working expenses. There is a distance of three-quarters of a mile of unoccupied hnd from the starting point, through which several of tbe known lines of reef traverse. The company propos 1 to drive a tunnel from the right to the left hi nd branch of the. Inangahua rirer, ulhroigh distance of some two and a-half miles, and thereby intersecting a perfect network »f gold-bearing reefs ; a number of which hay > been partially worked on the surface only, >ut with payable results, whicb, o;i the extension of the pro« posed tunnel would be at once turned to profitable account, as many of them would bo tapped at depths 1 tnging from 1500 leet downwards from tbe outcrops, ensuring an unlimited supply of go d bearing stone, which by a thus reduced coat of production cannot, in the opinion of tle projectors, fail to le»vo a very hundsom( margiu of profit. The Golden Fleece Extended Gold Mining Company, whose lease is on the proposed line, are ut present raising stone from the low level, 700 feet below the outcrop, giving tbe hand>ome return I of two ounces to the ion, which is the bfetj yet obfuined irotn the mine, uud may bo accepted as iu<Jicati?e ol tbe uccurucy of a \jery prevalent opinion " that tbe richness ol our quartz lodes increases with their dep ;h." The maximum of Halls will be One Penny per share per month thus affording an opportunity to all clas es of participating in the venture by tbe 1 milatiou of liability to a minimum. A til'teen-bead sta iper battery is erected immtdiutily contigu jus to the tunnel's mouth, available loi crushing any Btone j obtained. As a mining ppecul it ion, it pre-ents direct and prospective ac vantages seldom met with in kin ! red venti res, as illustrated by the combination reiem-d to, and still further by recent statistics furnished to the New Z?u» , luiid Government, eljowing that 108,188ozs. ot gold, the yield ol 156,862 tons, represent- j irq an average of 13 dwts 19 grs., or nearly 14 dwts per ton hune been obtained by the vuriouu company's Unit have becii, and are at work on the lines of reef proposed to be intersected. Taking tlie rtor.oy value per ton £2 12s Bd, a clear prifit of £1 ss. per ton can bu secured, allowing liie cost .of production to ) be divided thin — ciulhing by wa cr power, ss. per ton j cost 01 1 raising stoce, 10s 6d. per ton ; weur, tear, nlanagument.and centiugencies. 12s 6d. Totll, £1 7<* Bd. leaving a balance of £1 5s to bd divided as prctiu In conclusion, the Iprojectors with every , confidence assert that v more genuine mining venture, and one possessing liie same elements to achieve BUOC6BB lias seldom, if ever, leen put on tbe market. PROSPECTUS AMD FORMS OF APPLICATION® FOR SHARES '10 BE OBTAINED FROM THE UJSDERSIGJSEV. HENRY GEa HANKIN, CHAKLES fi. LdWA.RDS, stoeekele per Black's iroint. GOODS PACKED TO ALL PARTS j OF THE PIRICT, i