Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 11 October 1880, Page 3

PROSPECTUS OF THB TNAFGAHITA LOW LEVEL TUN J- NEL GOLD MLNIISG COM PANY, LIMITED, EEEFTON. CAPITAL £12,00 In 24030 Shares of 10s; Ea ;h. To be Bbgistbbbd vs dbb the Pbovisioji of " Thb Mmm j Companies' Acn 1872." Calls limited to One Penny per Month vith a deposit of Tto< > Pence per Share on Appl cation PROVISIONAL DIRECTORS. ROBEBT OxtßY PATBICK BbENNAN John Tbenkbhit 6eohob Wise WIMIAM GaBDKBB ChABLBS F.BABBB James CoNNOitT «. E.GutitKE P.Q Caplbs Mathew-Fybub Fbamk Hamilton JJoseph Kimoub' Bank^bs : '"'' ■ BANK OF NE V ZEALVND. Soil !ITOB : JAMES LV NCH, Ef<2. ;: Seobe paby t HENBY GE ). HANKIE. OBJECTS Of"1 HE COMPANY, In submitting the proposed undertaking for the approval of t ie general public, and more especially the inhabitants of th< district, whose interes I must neccMsrily & directly benefited by t ie impulse given to I further development o the- hidden wealth ol the field, and. as a sequence the increased circulation of capital locally, the projector! have every confident in its successful issue —which in the firtt pi tee may be attributed inaverj large degree o the widely expressed opinions of a variety ■ f experts—first among whom may bo mentu ned the name of Dr. Hector, Government ' finerologist, &c> who says, that* the constru tion of such a tunnel cannot fai\ to intersect numerous golden and other valuable metallio lodes j the local mm» erological products o the neighbourhood fully justifying the asi amption of their exstence in well-defined strata at a depth obtainable by the propose scheme." Secondly: By tbe immeasurably uperior advantages of profitably working ma >y lines of reef now in abeyance by leason of tbe exceptionally high rates attending the pi oduotion of otherwise payable stone by compa lies of limited capital ; tbirdly-»from the f ac ;of the Oovernment recognising . " at the nstance and recomx mendation of their En« neers" the importance and value of the world as a means to a great public good, by guaran eeing a subsidy of £ or £ of capital subsoi bed by the publicfacts that may be genei ally accepted as strong elements in support o the bom fides, and decided ultimate succ «s of tbe venture, in addition to which a fi rther and liberal cons cession has been made it granting the company right to 600 feet in widl h on either side of the entire length of the pro osed tunnel outside of vested interests, and is nine distinct and separate lines of gold> bearing reef traverse the company's claim at right angle, or thereabouts, apart from aiy others not visible, which by reasonable in erence may be met with, it may be fairl; characterized as a highly promising speoul ition. A still further addition to the anticipa ed profits is represented by a tariff on ha ilage for other com* panics, estimated at, s y, 10 per cent ov«r working expenses. There is a distance < f three-quarters of a mile of unoccupied lai i from the starting point, through which i avffal, of the known lines of reef traverse. «... "«.''" ,{, The company propose ocliiwa tunnel from the right to the left ban I branch of the In* angahua river, a throug i distance of some two and a-half miles, a id thereby intersecting a perfect network ol gold-bearing reefs ; • number of which have been partially worked on the surface only, b t with payable results, which, ou the extension of the pro* posed tunnel would be at once turued to irofltable account, as many of them would be tapped at depths ra igiug from 1600 feet downwards from tbe o itcrpps, ensuring an unlimited supply of golc bearing stone, which by a thus reduced cost H production cannot, in tbe opinion of thi projectors, fail to leave a very handsome i largin of profit* : Tbe Golden Fleece I xtended Gold Mining Company, whose* leu ie is on the proposed line, are at present rai ing stone from the low level, 700 feet belo r the outcrop, giving the handsome return cf two ounces to, the ton, Which is the best jat obtained from tbe mine, and may be acce tkd as indicative of the accuracy of a vei r prevalent opinion •• that the riohness of o a quarts lodes increases with their depth " ■ * ■ • The maximum of Oa Is will be One Penny per share per month, t ius affording an opportunity to all classes of participating in the venture by the lim tation of liability to a minimum. A fifteen-bead stamp ir battery is erected immediately contiguoti i- to the tunnel's mouth, available liar; Brushing any stone obtained. As 8 mining speculati an, it presents direct and prospective adyi itages seldom met with in kindred venture i, as illustrated by the combination referred to and still further by recent statistics furnisl ed to the New Zea» land Government, shot ing that 108,188ozs. off old, the yield of 164 ,862 tons, representing an average of .18 d it» Id grs., or nearly 14 dwts. per ton have been obtained by the various company's that have been, and are at work on tbe lines of re { proposed to be intersected. Taking the ntoney value per ton £3 12s Bd, a clear profi of £1 ss. per ton can be secured, allowing th< oost of production to be divided thus — cruet ng by waer power, ss. per ton j cost of nising stone, 10s 6d, per ton j wear, tear, ma iagement,and contingencies, 18s 6aV Total £1 7" 3d, leaving a balanoe of £1 0s to be livided as profit. In conclusion, the [ -ojectors with every confidence assert that a more genuine mining venture, and one possessing the- same element* to achieve success has seldom, if ever, feasn put on the market. PROSPECTUS AND FORMS OF APPLICATIONS FOR SHARES TO BE OBTAINED FROM TBE UNDERSIGNED. .HENRY GEO. HANKIN, ffjr Secretary./. CHARLES fl, EDWA.KDS, stoeekj:e per Black's Point. GOODS PACKED CO ALL PARTS OF THB DIRICT.