Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 20 October 1880, Page 3

PROSPECTUS OF THE INArGAHUA LOW LEVEL TUtf]S'FL GOLD MIXLSG COMPANY, LIMITED, REEFTON. CAPITAL .., £12.000 In 24000 Shares of 10s. Eajh, To be Registered under tiie PRovrsioNs oe " The Minixo Companies' Acts, 1872." Calls limited to Cne Penvy per Month. mth a deposit of Two Pence per Share on Application PROVISIONAL DIRECIOTIS. Robert Oxlet Patrick Brennax .loiin Trenneuy Gkorge Wise William Gardner Charlie Fr\sbb Jam G* Connolly R . K . Gdll in c P. Q Caples MiT.iEW Tyrne Frank Hamilton Jo-eph Kilgour Banker-* : BANK OF JNEW ZEAL\ND. Solicitor : JAMES LY.n'CH, Esq. Secretary : HENRY GEO. HANKIN. OBJECTS OF THE COMPANY. In submitting the proposed undertaking for the approval of the general public, and more especially the inhabitants of tlie district, whose interests must ne»es«arily be directly benefited by tbe impulse given to a further development of the bidden wealth of the field, and as a sequence the increased circulation of capital locally, the projectors have every confidence in its successful issue — which in the first place may be attributed in a yen large degree to the widely expressed opinions of a variety of experts — first among whom may bo mentioned the name of Dr. Hector, Government Minerologist, &c. who says, that the construction of such a tunnel cannot fail to intersect numerou' golden and other valuable metallic lodes; the local mine eroloL'ical products of the neighbourhood fully justifying ihe assumption of ih.dr exstenco in well-defined strain at a depth obtainable by the proposed scheme." Secondly ; By the immeasurably superior odvantsigesof profitably working many lines of reef now in abeyance by leason of tho exceptionally high rates attending the production of otherwise payable stone by companies of limited c.ipiial ; thirdly— rom the fact of tbe Government recognising "at the instaneo and recommendation of their Engineers " the importance and value, of Uie work, as a means to a great public good, by guaranteeing a subsidy of £ for £ of capital subscribed by tbo publicfacts that may be generally accepted as sti ong i elements in support of the bona fides, and I decided ultimate success ot the venture, in Addition to which a further aud liberal con* cession bas been mada in grauting tlie company right to 600 feet in width on either side of ihe entira leugtli of the proposed tunnel outsido 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, vhich by reasonable inference may bo met witb, 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 cora« ponies, estimated at, cay, 10 per cent over working expenses. There is a distance of three-quarters of a mile ot unoccupied land from tbe starting point, through wbich several of the known lines of rsef traverse. The company propose to drive a tunnel'from the right to tbe left band branch of tbe Inangahua river, a through distance of some two and a-half miles, and thereby intersecting a perfect net woik of gold-bearing reels ; a number of wbich have been partially worked on tbe surface only, but with payable results, which, on tbe extension ot tbe pron po«pd tunnel would be at once turned to profitable account, us many of them would be tapped at depths ranging from 1500 leet downwards from the outcrops, ensuring an unlimited supply of gold- bearing stone, which by a thus mlueed cost of production cannot, iv the opinion of the projectors, fail to I leavo a very handsome margin of profit. The Golden Fleece Extended Gold Mining Company, whose lease is on the propofed line, are ot present raisins stone from the low level, 700 feet below tlio outcrop, giving tho handsome return of two ounces to the ton, whioh is the best yet obtained from the mine, and may be accepted a 9 indicative ol the accuracy of a very prevalent opinion " that tbe richness of our quartz lodes increases with their depth." The maximum of Calls will be One Penny per share per aioivli, thus affording au opportunity to &11 classes of participating in the venture by the limitation of liability to a minimum. A lilieen-head stamper battery is erected immediately contiguous to the tunnel's mouth, available Jor crumbing any stone obtained. As a mining speculation, it presents direct and prospective advantages seldom met witb in kindred ventures, us illustrated by tbe combination referred to, and stilt farther by sccent statistics furnished to the New Zea» land Government, showing that lOS.ISSozs. ot gold, the yield ol IuG,B{J2 lo^ie, representing an average of 13dwls l'J grs!, or nearly id dwts per ton liavo been obtained by the various company's tliat havo been, and are at work on thu lines of reef proposed to be iu-ler.-ected. Tak.ng the ivonej- value per lon £2 12,-t BJ, a clear profit ot £1 ss. per ton can be secured, allowing ihe co^t of production to be divided thus — crushing by wa cr power, ss. per tou ; cost of rawng stone, 10s GJ, per ton ; wear, tear, management, and contingencies.. 12s Gd. Total, £1 7s Bd, leaving a balance of £1 5s to bo divided as profit. In conclusion, tho projectors with every confidence assert that a more genuine minino vein ure, and one possessing tlie same elements to achieve success bas seldom, if ever been put on tlie market. PROSPECTUS AND FORMS OF APPLICATIONS FOR SHARKS 'JO BK O BTA IIS ED FROM 'TDE USDERSKJISED. HEKIiY GEO. HAHEIN, Secretary. CHAliLiLtf il. kD\\ ' AUlT^ STOIiEKKE PE R Black's Point. GOODS PACKED TOALL PARTS of rm piuict.