Page 3 Advertisements Column 4

Inangahua Times, Volume II, 25 October 1880, Page 3

PROSPECTUS OF THK INAFGAHUV LOW LEVEL TU^ ISKL GOLD MISLNG COMPANY, LIMITED, REEF TO NT. CAPITAL £12.00 C In 21000 Shares of 10. Ea.-h. To BE BeGTSTEMID "UNDER THE Vr Tt«IOIT? of " Tjib Mining Companies' Act*, 1872." Ca'h li mi fed fo One Penny per Month, iiilhachpo'itof Two Pevrepcr Share on Application PROVISIONAL DIRECIORS. Robert Oxlet Pathick Bkennan John Teenneht George Wise William Gardner Charles Fiuser •F abies Connolly E. K. Gulline P. Q Cai-les Mathew I*yi!NE Fuank Hamilton Jcskph Kiujoub Banker-* : BANK OF KKW ZEALAND. SoilClTfiß : JAMES LY.NCB.E q. SrCEV.TARY : HENPY GEO. HANKIE. OBJECTS OF THE COMPANY. In submitting tha proposed undrvtakir.g for the approval of the general publ-c, und 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 as a sequence the increased circulation of cnpital locally, the projectors have every confidence in its successful isnie —which in the fii-st place may be attributed in averj large degree to the widely expressed opinions or a variety of experts— first among whom may be mentioned the name of Dr. Hector, Government Minerologist, &c. who says, that" the construction of such a tunnel cannot fai\ to intersect numerous golden and other valuable metallic lodes ; the local miv» erological products of the neighbourhood fully justifying the assumption of ihtir exstence in well-defined strata at a depth obtainable by the proposed scheme." Secondly : By the immeasurably superior advantages of profitably working many lines o*" reef now in abeyance by leason of the exceptionally hi^h | rates attending the production of otherwise payable etone by comp;miesof limited capital } hirHlv— 'rom tho lact of the aovernment recogiiiting "at the instance and recoiii* 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 public— fucts that may be generally accepted asstiong elements in support of the bona fides, and decided ultimnte success ot the venture, in addition to which a further and liberal con» 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, arid as nine distinct and separate lineß 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 the anticipated profits is represented by a tariff on haulage for other com* panics, estimated at, say, 10 per cent over woiking expenses. There is a distance of three-quarters of a mile of unoccupied land from the storting point, through which several of the known lines of reef traverse. The company propose to drive a tunnel from tha right to the left hand branch of the In' angnhua river, a through distance of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reels ; a number of which have been partially worked on the surface on^y, but with payable results, which, on th« extension of the pros 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 Eupply of gold bearing Btone, which by a thus reduced cost 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 Hoe, are at present raising stone from the low level, 700 feet below the outcrop, giving the handsome return of two our.cvs to the ton, which is the best yet obtained from the mine, and may be accepted as indicative ol 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 month, thus affording an opportunity to all classes of participating in the venture by the limitation of liability to a minimum. A n'fteen-head stamper battery is erected immediately contiguous to the tunnel's mouth, available ior crushing any stone obtained. As a mining speculation, it pre-ents direct and prospective advantages seldom met with in kindred ventures, as illustrated by the combination referred to, and Btill further by recent statistics furnished to the New Zea« lund Govern ineiit, showing that 108,188ozs. ol gold, the yield of 156,862 tons, representing an average of 13 dw»s 19 grs., or nearly 14 dwts per ton have been obtained by the various company's that have been, and arc at work on tho lines of reef proposed to be intersected. Taking the money value per ton £2 12s Bd, a clear profit of £1 ss. per ton can be secured, allowing the coat of production to be divided thus — crushing by wa er power, ss. per ton ; cost of raising stone, 10s 6d, pci 1 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 confidence assert that a more genuine miniug venture, and one possessing the- same elements to achieve success haa seldom, if ever, been put on tho luarket. PROSPECTUS AND FOR?JCS OF\ APPLICATIONS FOR SHARES \ 20 BE OBTAINED FROM THE UNDERSIGNED. HENRY GEo! HANKIN, Secretary. OHAULJiS H. KDWA.RJJS, j STOKEKEE PER Black's Point. j GOODS PACKED TO ALL PARTS OE THE DISTRICT. J