Page 3 Advertisements Column 4

Inangahua Times, Volume II, Issue II, 5 November 1880, Page 3

PROSPECTUS OF THE T-NAFGAiTUA LOW LEVEL TUNi KILL GOLD 11ISI>G COifPANY, LIMITED, EEEFTON. CAPITAL •• *U> m In 24000 Shares of 10*. Eaih. To be Begtstehed ukdbb the Provisions of " The Miniko Companies' Acts, 1872." ' Calls limited to One Penny per Month, teith a deposit of Two Pence per Share on Application PROVISIONAL DIREOIOBB. ttoBEET Omet 'Patrick ItaNAN .Tohn Teennery Geobgb .Vvisb William Gakdnee Chable* Fraseb James Cossollx H- K- Gulling P. Q Caples Mathew ' l'yrne Fbakk Hamilton Joseph iti tsoua Bankkbs : BA^K OF NEW ZEALAND. Solicitor : JAMES LY.NCH, Esq. Secbetaey : HENEY GEP-liANXLN-. more especially tht* t: - infi^Uftntt of the district, whose ' ir.teres ! 8 must necessarily be directly benefited by the impulse gi«en to a further development of the hidden wealth ol the 6fkl, and as a sequence tho increased circulation of capital locally, the projectors have every eonflrtenoe in its successful issue —which in the first place may be attributed in aver? large degree to the widely expressed opinions of a variety of experts— first among whom mny be mentioned the name of Dr. Hector, Government Stiuerologwf, &c. who says, thttt" the construction of such a tunnel ennot fai\ to intersect numerous golden uud other vuluable metalljc lodes; the local mi u>« erological products of the neighbourhood fully justifying tlio assumption of »h.ic exstence in well-defined strata at; a depth obtainuble by the proposed scheme." Secondly : By the immeasurably eupeiior advantages of profitably working many Hne3 of reef now in abeyance by leuson of Iho exceptionally high rates attending the production of otherwise payable stons by companies of limited capital ; thirdly— :'rom tho lact of the Governmentrecogniting "at thd instance and recoup mendation of their Engineers " the impoitauce and value of tue work, as n means to- a great public good, by guaranteeing a subsidy ot £ for £ of cui'Uul subscribed by the publicfuels that may be generally accepted U3 Btiong elements in support of the bona fides, and decided ultimate success ot tue venture, in eddition to which a further and liberal com* cession has been marie in granting the company light to dOO feet in width on either side of the entire lengtii 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 thereabout?, apart fiora any others not visible, which by reasonable inference may bo met with, it may be faiviy characterized as a hi«hly promising speculation. A elill further addition to the anticipated profits is repvesonted by a. tariff on haulage for other com* punies, estimated at, cay, 10 per cent over woikmg expenses. There is a distance of three-quarters of a mile of unoccupied land from the starling point, through which several of the known lines of raef traverse. Thfl company propose to drive a tunnel from the right to the left hand brunch of the In« angaluvi river, a through distance of some two and a-hulf miles, and thereby intersecting a perfect jietwork.of gold-bearing reefs; a number of which have been partially worked on tho surface only, but with payable results, wbich, on tho extension of tba pro» posed tunnel would be at once turned to profitable account, sa many of them would be tapped at depths ringing from 1500 leer downwards from the outcrops, ensuring an. unlimited supply of gold-bearing stone, wbich by a thus reduced 'cost of production cannot, in the opinion of the projectors, fail to leave a very handsome margiu of profit, The Golden Fleece Extended Gold Mining Company, who.*e lease is on the proposed line, are at present raisins; stone from the low level, 700 feet below the outcrop, giving the handsome return of two ounces to the ton, which is the best yet obtained from the mine, and may be accepted 03 indicative of the accuracy of a very prevalent opinion '• that the richness of our quartz, lodes increased with their depth." The maximum of Calls will be One Penny per Bhare per month, thus Bffordiug an opportunity to all classes of participating in the venture by the limitation of liability to a minimum. A lifteen-hqad stamper battery is erected immediately contiguous to the tunnel's mouth, available lor crushing any stons obtained. As a mining speculation, it pres-enls direct and prospective advantages seldom met with in knvJred ventures, as illustrated by the combination referred to, and still further by recent statistics furnished to the New Zea» land Government, shoving that 108,1880z3. of gold, the yield of 156,862 tone, representing an average of 13 clwts 19 grs., or nearly 14 dwts. per ton hay ; been obtained by the various company's th t have been, and are at work on the lines vi reef proposed to be intersected. Taking tho coney value per ton £2 12s Bd, a clear profit; ot £1 ss. per ton can J)e; secured, allowing the cost of production to be divided thiu— crushing j by; wa er power, ss. per tou ; cost of raising etbee, 10s 6d, per ton ; wear, tear, management, and contingencies, 12s 6d. Total, £1 7s Bd. leaving a balance of £1 53 to be divided as profit. Id conclusion, the projectors with every confidence assert that a more genuine mining venture, and ono possessing the same elements to achieve success has seldom, if ever, been put on the market. PROSPECTUS AND FORMS OF APPLICATIONS FOR SMARMS 10 BE OBTAINED FROM TEE UNDERSIGNED. HENEY G'lhO. HANKIN, Secretary. CHAKLES 11. iiDWAftlJs]STOREKEE PER Black's Poinfc. GOODS PACKED TO ALL PARTS OF TEE DISTRICT.