Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 3 November 1880, Page 3

PROSPECTUS OF THB INAFGAHUA LOW LEVEL TUJ! KEL.^£j*)-LvD MISIiSG COJ G PANYfii'lMiTilfo, REEFTON". 11 CAPITAL £12.(X In 24000 Shaves of 10s. Ea^h. >r To be Registered tnder the Psovrsioi op " Thb Mining Companies' Aci j 1872." Calls limited to One Penvij per "Mont, icith a deposit -of Two Pence per Share J5 on Application. PROVISIONAL mRECIOjRS. Robert Oxlet Patmck Bhennan ' John Tbennery Gkorge VVlsb William Gakdneb Charlie Fraseb & Jamb* Connolly R. K. Gulline p. q caples mathew i-yrne Fjjank Hamilton Joseph Kilgoce Bankers t BANK OF NEW ZEALAND. Solicitor: D JAMES LYSCH, Esq. Secretary : HENRY GISO. HAS KIN, OBJECTS OF T,HE COMPANY. more especially the " titfrawtfits of "th district, whose interests must nere_B*orily bi directly beneQted by the impulse given to 1 "' ' further development of tbe bidden wealth 0 J the field, nnd as a sequence the iucreiisec circulation of capital locjliy, tho projector: have every confidence io its successful issut — which in the first place may be eMributec r inaverj large degree to tho widely espressec r opinions of a variety of experts — first etnotij ' whom may be mentioned the name of Dr Hector, Government Minerologist, &c whf ' says, that" the construction of such a tunnel 1 cjnnot fai\ to intersect numerous golden and 1 other valuable metallic, lodes; the local mini ! erological products of tbe neighbourhood 1 fully justifying the assumption of iht-ir ex--1 stenco in well-defined stiatu at a depth ob- ■ tamable by th^proposed scheme/ Secondly: 1 By the immeasurably superior advantages ol , profitably working many lines o f reef now in abeyance by leason of the exceptionally bigh rates attending the production of otherwise pnyable' stone by companies ol limited capital j thirf>h— irom "the iact of the Government recognising "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— facts that may be generally accepted as BUong elements in support of the bond fides, and decided ultimate 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 ot the entire length of the proposed tunnel outside of vested interests, and as nine distinct and Beparate lines of gold-bearing reef traverse the company's claim ut a right angle, or thereabouts, apart from any others not visible, which by reasonably inference may be met with, it may be fairly characterized as a highly promising speculation. A still further ■addition to the anticipated profits is represeuted by a tariff on baulaga lor other com* panics, estimated at, say, 10 pei' cent over working expenses. There is a distance of three-quarters of a mile ot unoccupied land from the starling point, through which several of the known lines of reef .traverse. 1 Tho company propose to drive a tunnel from tbe right to the left hand branch of the In* angah-un rirer, a through distance of some two and a-balf miles, and thereby intersecting a perfect network of gold-benring reels 5 & number of which have been partially worked on the surface only, but with payable results, which, on the extension of the pros posed tuunei would be at once turned to profitable account, os many of them would be tapped at depths ranging from 1500 leer downwards from the outcrops, ensuring tin unlimited supply of gold-bearing stone, which by 11 thus reduced cost of production cannot, in the opinion of tbe projectors, fail to leave a very handsome margin of profit, The Golden Fleece Extended Gold Mining Company, whose lease is on the- proposed line, are at present raising Btono from the low level, 700 feet bslow the outcrop, giving tho honcUome return of two ounces to the ton, which is tho best jet obtained (rom the mine, n»d may bo accepted as indicative ol the accuracy of a very prevalent opinion " that the richness of out quarts 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 ttie venture by tbe limitation of liability to a minimum. A fifteen-head stamper battery is erected immediately contiguous to the tunnel's mouth, available ior crushing any stone obtained. As a mining speculation, it presents direct and prospective advantages seldom met with in kindred ventures, as illußtrated by the combination referred to, aud still further by recent statistics furnished to the New Zea» land Government, showing that ioß,lßßozs. of gold, the yield of 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 on the lineß of reef proposed to be intersected. Taking the iconey value per ton £2 12s Bd, a clear profit of £1 ss. per ton can be secured, allowing the cost of production to be divided tUuo— crushing .by wa er ;power, ss. per ton ; cost of "Msing store, lOs 6d, per ton ; wear, tear, management, and contingencies, 12s Gd. 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 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 SHARES TO BE OBTAINED FROM TEE UNDERSIGNED. HENRY GEa HANE2N, _ • SecretaryCHAIiLES H. Ji.DWA.IiW, STOEEKEB PER Black's Point. GOODS PACKED TO ALL PARTS • OP THE DISTRICT.