Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 4 October 1880, Page 3

PROSPECTUS OF THE INAFGAHUA IOW LEVEL TUN NEL GOLD MINttG- COMPANY, LIMITED, REEFrON. t CAPITAL £'12,00( In 24000 Share 1 of 10s. Ea jh. r TO BE REGTSTEBED TT I DER THE Pfi' VrslON! of " The Mini;?g Companies' Acts 1872." Ca.'ls limited to One Penny per Month with a deposit of Two Pence per Share J on Application PROVISIONAL DIRECTORS. Kobebt Oxlet LPatmck Brennan .'ohn Tbennert JGeobge Wise William Gabdneb iChablbs Fbaseb 1 James Connolly R. K. Gulline P. Q Caples JVlathew .Ftrne Fiu^k Hamilton JJosei*h Kilgoub Bankers : BANK OF NEW ZEALAND. SOLfICITOE : , JAMES LYLNCH,E*Q. f'ECBEfTAnY '. HENRY GEJ. HANKIN. OBJECTS OF 'IHE COMPANY. In submitting the proposed undertaking for the approval of tie general public, and more especially the inhabitants of the district, whose interes s must necessarily be [ directly benefited by Ihe impulse given to a further development o the hidden wealth ot ' the field, and as a t ?quence the increased circulation of capital locally, the projectors have every confidence in its successful issue — which in the first p] ice may be attributed ■ in a yen large degree o the widely expressed , opinions of a variety < f experts — first among whom may be mentk ned the name of Dr. Hector, Government ] linerologist, &c. who says, that '• the constru tion of such a tunnel o-Jnnot fail to intersect numerous golden and otber valuable metallic lodes ; the local mim« erological products 0 ' the neighbourhood fully justifying the aa< umption of ihtir exstence in well-defined strata at a depth obtainable by the propose I scheme." Secondly : By the immeasurably superior advantages of profitably working ma iy lines of reef now in abeyance by 1 eason of the exceptional! v high rates attending the pi oduction of otherwise payable stone by coropu lies of limited capital ; thirdly— rom the fac ; of the Government reeogniting "at the nstance and recom« mendation oi' their Eng neerß " the importance and value of the work, as a means to a great public good, by guaran eeing a subsidy of £ for £ of capital subset bed by the public— fucts that may be genei ally accepted as stiong elements in support o the bona fides, and decided ultimate succ-es ofthe venture, in addition to which a fi rther and liberal cons cession has been made ir granting the company right to 600 feet in widt h on either side of the entire lengtli of the pro] losed tunnel outside of vested interests, and is nine distinct and separate lines of gold" bearing reef traverse the company's claim at 1 , right angle, or thereabouts, apart from aiy others not visible, which by reasonable in: erence may bo met witb, it may be fairl; characterized as a highly promising speculi tion, A still further addition to the anticipat )d profits is represented by a tariff on hai lage for other com* panics, estimated at, es y, 10 per cent over working expenses. There is a distance 0 ' three-quarters of a mile of unoccupied lan I from the starting point, through which b< veral of the known lines of reef traverse. The company propose t > drive a tunnel from the right to the left hanc branch of the In' angahua river, a througl distance of some two aud a-half miles, and thereby intersecting a perfect network of j gold-bearing reefs ; a number of which have b een partially worked on the surface on*y, but with payable results, whioh, on tha ex ension of the pro* posed tunnel would be f t once turned to profitable account, es mt ny of them would be tapped at depths r-mg ing from 1500 feet downwards from the out-rops, ensuring an unlimited supply of gold 1 earing stone, which by a thus reduced cost of production cannot, in the opinion of the projectors, fail to leave a very handsome ma-giu of profit. The Golden Fleece Ext ended Gold Mining Company, whose lease is on the proposed line, are at present raisin ; stone from the lonv level, 700 feet below t ie outcrop, giving the handbome return of wo ounces to the ton, which is tbe best yet ibtuined from the mine, and may be accepte I as indicative ol the accuracy of a very irevalent opinion " that the richness of our quartz lodes increases with their depth," The maximum of Culls vill be One Penny per share per month, thus affordiug an opportunity to ull classes o " participating in the venture by the limitat iou of liability to a minimum. A lifteen-head Btamper battery is erected immediately contiguous to the tunnel's mouth, available lor en shing any stone obtained. As a mining speculation, it presents direct and prospective advantages seldom met with iv kindred ventures, a 1 illustrated by the combination referred to, ar. d still further by recent statistics furnished to the New Zea» land Government, showing that 108,188ozs. of gold, the yield of 156,86 5 tons, representing an average of 13 dwts 19 grs., or nearly 14 dwts. per ton huve beei obtained by the various company's that ha re been, and are at work on the lines of reef p roposed to be intersects Taking the nr(ney value per tou £2 12s Ba, a clear profit ot £1 ss. per ton cau be secured, allowing the coi fc of production to Be divided thue — crushing by wa er power, ss. per ton ; cost of ruisit g stone, 10s 6d, per ton ; wear, tear, manag ment, and contingencies. 12s 6d. Total, £1 7s Bd, leaving a balance of £1 5s to be divi led as profit. In conclusion, the proje itorß with every confidence assert that a mo: c genuine mining venture, and one posoessii g the same elements to achieve success hls seldom, if ever, beeu put on the market. r PROSPECTUS AND 1 FORMS OF APPLICATIONS FOR SHARES TO BE OBTAINED FROM THE UNDERSIGNED.! HENRY GEO. HANKIN, Secretary. QHAKLES H. . iDWAUHs", STOEEEE B PER Black's loint. GOODS PACKED T ) ALL PARTS OF THE DIRICT. 1