Page 3 Advertisements Column 4

Inangahua Times, Volume II, 24 September 1880, Page 3

PEOSPECTIT3 . Off THB INAFGAFIUA LOW LEVEL TUNNKL GOLD MISLNG COMPANY, LtMIJTED, REEFION. . CAPITAL ,»\. £ 1 2.000 Iv 24000 Shales of 10*. Ea Mi. To be ■Rectstebed Jtnder the Pit vmovs OF " TEB MlKpO CoMPANIKS 1 ACT*. 1872." J Calls limited, to Che Penny per Month, with a deposit of 7ivo Pence per Share on Application PRO YISIOJSf2fI> 1 RECTO TIS. ROBEHT OXLEY | PilT[aCK P BEIfNA * .John Teennebt Peobob \n i*e William Gaednee IChables Fbiser Jaxks Connolly pt. K. Gdllinb p q caplk-« w athew l^ybne Fba.nk Hamilton Joseph Kilgoob "Bans ebs j BANK OF JSEW ZEALAND. Soli citob : JAMES LI NOH,E>Q. HENRY GKO. HASKIN. OBJECTS OF lUIE COMPANY. In submitting the toro|jo*ed undnrtakiKg for the approval of tie general public, and more especially the I inhabitants of the district, whose interest* m u«t necee.'anly be directly benefited by t»e impulse given to a furlher development ofltlie hidden wealth of the field, and as a eebuence the increased circulßtiou of capital locally, the projectors havt- every confidence In its successful issue —which in tbe fiVst plafce may be attributed in averi large degree t* tbe widely expressed opinions of a variety oj. experts— first among whom may be mentioned the name of Dr. Hector, Government MinerologiV, &c. wlio says, that" tlie constru "lion of«uch a tunnel cannot fart to intersect hwnerou* golden and other valuable metallic lodee ,- the local mm* erolo«ical products ofltbe neigh bourhood fully*juetifying the aasuhiption of ih< ir exgtence in well-defined fftrata at a depth obtainuble by tbe proposed Ichenie." Secondly : By the immeasurably superior advantages ol profitably working m ant lines of reef now in abeyance by ie;ison of tile exceptionally high rates attending the production of otherwise payable stony by companies of limited capital ; thirdly— rom the fact pf tbe Govtsrmnent rccognibing "at the initance nnd Kcom» mendation of their Engineers "the impoi tance and valu* of tlie work, asja means to a great public good, by guaranteeing a subsidy o! £ for & of capital subscribed by ttie public— fucts that muy be generally accepted as strong elements in support of the bona fides, and decided ultimate success* ot the venture, in flddition to which a fuiitt?r and liberal con» cession ling been made in gAnting the cojnpany right to 600 feet in width An either side ol the entire lengtn of the proposfcd tunnel outside of vested ..in forests, and as I niue distinct and separate lines of gold«bearing reef tnverse the company's claim at a rikht angle, or thereabouts, apart from any lathers not visible, which by reasonable inference may bo met with, it may be fuirly characterized as a highly promising speculation. A still further addition to the anticipated brofits is represented by a tariff on haulaie for other com« panics, estimated at, say, 110 per cent over working expenses. I There is a distance of tlree-quartera of a mile of unoccupied land irom the atnrting point, through which eevetal of the known lines of i3«l traverse. I Th" company propose to d ive a tunnel from the right to the left hand h 'ancb of the Inang'nhua river, a through i istance of some two and a-half mile?, and t lereby intersecting a perfect network of g< Id-bearing reefs ; a number of which have bee i partially worked on the surface on'.y, but * ith payable teBults, which, on tlie extei aion of the pron po*ed tunnel would be at once turned to profitable account, os mtin] of them woald be tapped at depths r.ingiu » from 1500 feet downwards from the oiUcrbps, ensuring an unlimited supply of gold beiring stone, which by a thus reduced cost of production cannot, jn the opinion of the projectors, fail to leave a very hupdsome mariiu of profit, The Golden Fleece Extejnded Gold Mining Company, whose lease is on the proposed line, are ut present raising stone from tbe lo* level, 700 feet below tie outcrop, giving the handsome return of Iwo ounces to the ton, wbicli is the best yet obtained from the mine, "and may be accepted as indicative ot the accuracy of a very prevalent opinion •' that the richness of our j quartz lodes increases with their depth." j The maximum ot Callsfwill be One Penny per share per monh, thup affording an op*portunity to all classes pf participating in the venture by the limitation of liability to a minimum. J A fifteen-head stamper battery is erected iainua* lately contiguous! to the tunnel's mouth, available ior crushing any stone obtained. I Aa a mining speculation, it preents direct nnd proactive advantages seldom met with iv kur'rtO ventures an illustrated by the combination r«fenvd tojand still further by lecent stutißtice furnished to the New Zea* land Government,, showing that ' 108,188oza. of gold, the yield of 1561862 tons, representing an average of 13dvts 19 grs., or nearly 14 dwts per ton have peen obtained by the various company's that jhave been, and are at work on the linen of reaf proposed to be intersected. Taking the jn oney value per ton £2 12* Bd, a cltar profi j ol £1 ss. per ton can be secured, allowing thJcost of production to be divided thu'— crushing by wa er power, ss. per tou j of raising stoce, 10s 6d, per ton ; wear, tear, mipagi'ment,and contingencies, 12s 6d. Total] £1 7s Bd, leaving a balance of £1 5s to be Divided as profit. In conclusion, the projectors with every confidence assert that aj more genuine mining venture, aud one postessing tlie same elements to achieve succejs has seldom, if ever, been put on the uiurkej, PROSPECTUS AJNV FORMS OF APPLICATIONS FOR SHARES 'jo be obtained from ihe undeusigsj\d. HENRY g£l HANKIN, Seen taryi CHALILES ti, iiDWiUt-DS, STOREKEEPER :^ v>- Bluek'J Point. GOODS PACKED TO ALL PARTS OP TJiE DIKICT.