Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 18 October 1880, Page 3

PROSPECTUS OF THE INAFGAHUA LOW LEVEL TUNNEL GOLD MINLNG COMPANY, LIMITED, REEFl'Otf. CAPITAL £12,000 In 24000 Shares of 10s. E03I). TO BE "REGISTERED ITNDEK THE PROVISION.* or " Th'b Mining Companies' Acts, 1872." Calls limited to One' Penny per Month, with a deposit of Two Pence per Share ■ on Application*. ~~ * : PROVmOXJp DiRiCIORS. Robebt'Oxley "' Patbick Bbennan John 'J'bJennbiwa,.!, George V\(ise WltlilAM GaKDNEB CHABIiiES FBiSEB James Connolly K. K. Gulline P. Qj Caples >Math?w, J^ybne Fba>.k Hamilton Joseph Kilgour o ■ Bankebh : / BANK OF NEW ZEALAND. V, Solicitor : JAMES LYiNCH, Esq. , f*ECRETABY • HENEY GEO. HANKIN. OBJECTS OF THE COMPANY. In submitting the proposed undertaking for the approval of the general public, and more especially the inhabitants of the district, whose interests must necessarily be directly benefited by the impulse given to a further development of the hidden wealth of the field, and' os a sequence the increased circulation of capital locally, the projectors have every confidence in its successful issue — which in the fiost place may be attributed in a verj large degree to the widely expressed opinions of a variety of experts — first an.ong whom may be mentioned the name of Dr. Hector, Government Minerologist, &c. who says, that' 1 the construction of such a tunnel cannot fait to intersect numerou-> golden and other valuable metallio lodes ; the local mm* erological products of the neighbourhood fully justifying the assumption of iheir exetence 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 exceptionally high rates attending the production of otherwise payable stone by companies ol limited cupital ; thirdly— rom the fact of the Government recognising "at the instance and recoin" mendation of their Engineers "the importance and value of the 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 as stiong elements in support of the bona fides, and decided ultimate suooess ot the venture, in addition to which a further and liberal corn* 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 outside 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 others 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 tbe anticipated profits is represented by a tariff on haulage for other com* ponies, estimated at, cay, 10 per cent over wqjking expenses. There is a distance of three-quarters of a mile of iiagdou pied land from- the start jpg point, through which several of the" known lines of reef traverse. The company propose to drive a tunnel from the right to the left hand branch of the In* angahua river, a through distance of some two aucl a-half miles, and thereby intersecting a perfect iietwok-of gold-bearing reels j a number of which have been partially worked on the surface on'y, but with payable results, whicb, on the extension of the pros posed tunnel would bo at once turned to profitable account, ss many of them would be tapped at depths rungiog from 1500 leet downwards from the outcrops, ensuring an unlimited Bupply of gold bearing stone, which by a thus reduced coat of production cannot, in the opinion of the projectors, fail to leavo a very handsome margin of profit, The Golden Fleece Extended Gold Mining Company, whose lease is on the proposed line, are at present raising stone from the lo# level, 700 feet below tha outcrop, giving the handsome return of two ounces to the ton, which is the best yet obtained from the mine, and may be accepted as indicative of the accuracy of a Very prevalent opinion " that the richness of our quartz lodes iucreaßes with their depth." The maximum of Calls will be One Fenny per share per month/thus affording an opportunity to all classes of participating in the venture by tbe limitation of liability to a minimum. A fifteen-head stamper battery is erected immediately contiguous to the tunnel's mouth, available lor crushing any stone obtained. As a mining speculation, it pre : ents direct and prospective advantages seldom met with iv kindred ventures, as illustrated by the combination referred to, and still further by recent statistics furnished to the New Zea» land Government, Bbowing that 108,188ozs. of gold, the yield of 156,862 tons, representing an averuge of 13dwts 19 grs., or nearly 14 dwls per ton l.aye been obtained by the various company's tbat have been, and are at work on the lines of- reef proposed to be intersected. Taking the ironey value per ton £2 12s Bd, a clear profit o( £1 ss, per ton can be secured, allowing the cost of production to be divided thuf — crushing by waer power, ss. per ton ; cost of raising stone, 10s 6d, per ton j wear, tear, management, and contingencies, 12s 6d. Total, £1 7a Bd, leaving a balance of £1 5s to be divided as profit. In conclusion, the projectors with every, confidence assert that a more genuine mining venture, and r one pOßteßßing the same eld* menta to achieve success has seldom, if ever, been put on the market. PROSPECTUS AND FORMS OF APPLICATIONS FOR SHARES 10 BE OBTAINED FROM,2HE ■' UNDERSIGNED. HENRY GEO. HANKIN, • ■ Secretary. CHAKLES fl. £DWAUDS, STOEEKEE PER Black's Pointj GOODS PACKED TO ALL PARTS OS 1 THE DIIUCT.