Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 15 October 1880, Page 3

PROSPECTUS OP THE r-urGAIIUA LOW LKVKL TUN--REL GOLD MINING COMPANY, LIMITED, REEFTON. t CAPITAL .„ £12,000 In 24030 Shares of 10s. Ea jh. r To be "Registered under the Pk -visions of " Thb Mining Companies' Act*. 1872." Calls limited to One Penny per Month, Kith a deposit of Two Pence per Share | on Application PROVISIONAL DIBECIOIiS. Robert Oxiey Patrick T3kennan .lOHN TItENNERY GIiOKGE Wisfi William Gardner Ciiahi.e* Fiuser • Jambs Connolly li. K Gullinb R Q CAPLES MATIIEW^YttNE Fkank Hamilton Joseph Jv.lgoue Bankers : \ EANK OF NEW ZGAL\ND. Solicitor : , JAMES LYNCH, Esq. HENBY Gl|||^|||rN. OBJECTS OP THE COMPANY. In submitting the proposed undprtakirg for the approval of the general public, and more especially the inhabilauts of the district, whose interests must necessarily be ' directly benefited by the impulse given to a further development of the hidden wealth of 1 the field, and as a sequence the increased circulation of . capital locally, the projectors have every confidence in its successful issue —which in the fust place may be attributed in averj large degree to the widely expressed opinions of a variety of experts — first among whom may be mentioned the uamo of Dr. Hector, Government Mineralogist, &c. who says, that' 1 the construction of such a tunnel cannot fai\ to intersect numerous golden and other valuable metallic lodes ; the locul mm* erological products of the neighbourhood fully justifying the assumption of ihrir exstence in well-defined strata at a depth obtainable by the proposed scheme." Secondly : By the immeasurably superior advantages of profitably working many lines of reef now in abeyance by leason of the exceptional^ hi^h rateß attending the production of otherwise payable stone by companies of limited capital ; thirdly— from the fact of the Government recognising "at the instance and recom* mendatio.ii of their Engineers " the importance and value oi' tho work, as a means to a great public good, by guaranteeing a subsidy of £ for £ of capital subscribed by the publicfacts that may be generally accepted asstiong elements in support of the lona fides, and decided ultimate success ot the venture, in addition to which a further and .liberal cons cession has been made in granting the company right to 600 feet in width on either side of the entire length of the proposed tunnel ouiside of vested interests, and as nine distinct and separate lines of" gold«bearing reef traverse the company's claim at a right angle, or thereabouts, apart from any othors not visible, which by reasonable inference may bo met with, it may be fairly characterized as a highly promising speculation. A still further addition to the anticipated profits is represented by a tariff on haulage for other com* panics, estimated at, say, 10 per cent over working expenses. There is a distance of three-quarters of a mile of unoccupied laud from the starting point, through which several of the known lines of reef traverse, Tho. company propose to drive a tunnel from the right to the left hand branch of the Inangahua river, a through distance of come two and. a-balf miles, and thereby intersecting a perfect network of gold-bearing reefs; a number of which have been partially worked ou the surface only, but with payable results, which, on tho extension of the pron posed tunnel would be at once turned to profitable account, as many of them would be tapped at depths ranging from 1500 feet downwards from the outcrops, ensuring an unlimited supply of gold bearing stone, which by a thus reduced cost of production cannot, in tho opinion of the projectors, fail to leave a very handsome margin of profit, The Golden Fleece Extended Gold Mining Compunyt whose lease is ou the proposed line, ore at present raising stone from the loff level, 700 feet below the outcrop, giving the handsome return of two ounces to the ton, which is the best jet obtained from the mine, and may be accepted as indicative o! the accuracy of a very prevalent opinion " that the richness of our quartz lodes increases with their depth." The maximum of Calls will be One Penny per share per monib, thus affording an op- , portunity to all classes of participating in the venture by tho limitation of liability to a minimum. A fil'teen-head stamper battery is erected immediately contiguous to the tunnel's mouth, available lor crushing auy stone obtained. Ab a mining speculation, it presents direct and prospective advantages seldom met with in kindred ventures, as illustrated by the combination referred to, and still further by recent statistics furnished to the New Zea» . land Government, showing that 108,188ozs. of gold, the yield ol 156,802 tons, representing an average of 13 dwts 19 grs., or nearly 14 dwts per ton have been obtained by the various company's that have been, and are at work ou the lines of reef proposed to be intersected. Taking the aoney value per ton £2 12s Bd, a clear profit of £1 53. per ton can be secured, allowing the cost of production to * be divided thus — crushing by wa er power, ss. per ton ; cost of raising stoce, 10s Gd, per ton ; wear, tear, management, 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 r confidence assert that a more genuine mining venture, and one possessing the same elements to achieve success has seldom, if ever, been put on the market. PROSPECTUS AND FORMS OF APPLICATIONS FOR SNARES 10 BE OBTAINED FROM THE UNDERSIGNED. HENRY GEO. HANKIN, Secretary. 5 CHARLES H. EDWA.UDS, t STOEEKEEPER i Black's Point. n _ — . t GOODS PACKED TO ALL PARTS OF THE DIRICT.