Page 3 Advertisements Column 4

Inangahua Times, Volume 16, 22 October 1880, Page 3

PROSPECTUS CF THE INAFGAHITA LOW LEVEL TUNJSEL GOLD MI SUNG COMPANY, LIMITED, EEEFrOff. CAPITAL £12,000 In 24000 Shares of 10s. Eajh. To be Registered under the Vwmnox* of " The Mining Companies' Act^, 1872." __ Calls limited to One Penny per Month. with a deposit of Two Pence per Share on Application PROVISIONAL DIREOIOnS. Robert Oxlby Patrick Bkennan •John Tkennekt George Wise William Gardner Chabi.es Fiuseh Jambs Connolly K. K. Gulltne P. Q Caples Alathew I'ykne Fkank Hamilton Joseph Kilgouk Bankers : BANK OF ISEVV ZEALVND. Solicitor : JAMES LY.NCH, Esq. Seckktary : HENEY GEO. HANKIN. OBJECTS OF THE COMPANY. In eubmittine: the proposed undertaking for the approval of the general public, and more especially the inhabitants of (lie district, whose lntfrests 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 huve every eonQdem-e in its successful issue —which in tbe first place, may be attributed in a verj large degree to the widely expressed opinions oi a variety of experts— first among whom may be mentioned tbe name of Dr. Hector, Government Miuerologist, &c. who says, that" the construction ofsuuh a tunnel cannot fai*. 1o intersect numeivu golden and other valuable metallic lodes ; lh« local mm» erolojjical products of the neighbourhood fully justifying the assumption of ititir exstence in well-defined strata at a depth obtninabie by tbe proposed scheme." Secondly : By the immeasurably superior advantages of profitably working niany lines of reef now in abeyance by leason of the exceptionally high rates attending the production of otherwise payable stone by companies ot limited cjpitul ; thirdly— rom the (act of tlie Government recognicing "at tbe instance and recom" mendation of their Engineers " tbe importance and value of tlie work, us a means to a great public good, by guaranteeing a subsidy of £ for £ of capital subscribed by tbe public— facts that may be generally accepted asstiong elements in support of the bona fides, and decided ultimate success ot tlie venture, in addition to wbich a further and liberal con« cession has been made in granting tbe cojopatiy right to 600 feet in width on either side of the entire lengtli of the proposed tunnel outside of vested interests, and as nine distinct and separate lines of gold-bearing reef tr.iverse 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 lijjhly promising speculation. A still further addition to tbe anticipated profits is represented by a tariff on haulage for other torn* paniea, estimated at, cay, 10 por cent over woi king expenses. 'There is a distance of three-quarters of a mila of unoccupied land from the starting point, through wbich severul of the known lines of rsef 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 and a-half miles, aud thereby intersecting a perfect network of gold-bearing reels ; a number of which ha«e been partially worked on the surface only, but with payable results, which, on tlin extension of the pro* posed tunnel would be at once turned to profitable account, os 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 reduced cost of production cannot, in tbe opinion of tbe projectors, fail to leave a very handsome margin of profit. The Golden Fleece Extended Gold Mining Company, whoso leuse is on tbe propped line, are at present raising stone from the loff level, 700 fret below the outcrop, giving the band?ome return of two ounces to the ton, which is the best yet obtuini-d irom the mine, and may bo accepted as indicative ol tbe 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 month, thus affording an opportunity to all classes of participating in the venture by tbe limitation of liability to a minimum. A lilteen-head stamper battery is " erected immediately contiguous to the tuunel'e mouth, available tor crushing any stone obtained. As a mining speculation, it pre : ents direct ond prospective' advantages seldom met with in kiu.'reci ventures, as illustrated by the combiuution referred to, and still furl her by tecent statistics furnished to ike New Zea» laud Government, showing that 108,1880z3. of gold, the yield ol 156,862 tons, representing an average of 13dwis 19 gis., or nearly 14 dwts per, ton have been obtained by the various company's that have been, Bind are at work on the lines of reef proposed to be in-tei\-ected. Taking tbe aoney value per ton £2 12s Bd, a cli-ar profit ol £1 ss, per ton can be secured, allowing thu cost of production to be divided thu: — crushing by wa. er power, ss. per ton ; cost of raising stove, 10s Gd, per tou ; wear, tear, management, and contingencies. 12s 6d. Total, £1 7s Bd. leaving a balance of £1 5a to be divided as profit. In conclusion, the projectors wilh every confidence assert that a more genuiue mining venture, aud one possessing the same ele° inents to achieve success has seldom, if ever, been put on the market. PROSPECTUS AND FORMS OF APPLICATIONS FOR SHARES '10 BE OBTAINED FROM THE UNDER SI GNED. HENRY GEa HANKIN, Secretary. CHARLES HTlißWAiil^ STOEEKEB PER Black's Point. GOODS PACKED TO ALL PARTS OF THE DIRICT,