Page 3 Advertisements Column 5

Inangahua Times, Volume II, Issue II, 17 November 1880, Page 3

PROS PECTUS OF THE TV AyG-AHUA LOW LEVEL TUNA NKL GOLD MINIISG COMPANY, LIMITED, BEEFrON. CAPITAL £12:000 In 24000 Shares of 10s. Ea h. To be Registered undkb the Psr-rrsioNs of " The Mixi.no Companies' Acts, 1872." Calls limited to One Penny per Monti, with a deposit of 'J ten Pence per Share on Application PROVISIONAL DIBECI OES. HOBRBT OjcLEY fATBICK BBENNAN .'oriN TitENNEttY Geobge Wise . William Gardneb Charles Fiuseb James Connolly JL K. Gulline P. Q CAPLES MATHEW R-YHNE Fbank Hamilton Joseph Kilooua Bankers : BANK OF NEW ZEALAND. Solicit»b : JAMES LYNCtJ, Esq. Manages: GEORGE WISE. OBJECTS OF THE COMPANY. In submitting tho proposed undertaking for the approval of the general public, and more especially the inhabitants of the district, whose interest* muft necessarily be directly benefited by the impulse given to a further development of the hidden wealth of the field, and as a sequeuce the increased circulation of capital locally, the projectors have every confidence in its successful issue —which in Uie fi«t place may be attributed in a veri large degree to the widely expressed opinions of a variety of experts— first among whom may be mentioned the name ot Dr. Hector, Government Minerologisr, &c. who cays, that '-the construction of such « tunnel c moot fai\ to intersect numerous golden and other valuable metallic lod( s j the local minn erological products of the neighbourhood fullv 'notifying the assumption of ihtir exBtciieo in well-defined strata at a depth obtainable by the proposed scheme." Secondly : By the immeasurably superior advantages ol profitably working many lines of reef now in abeyance by ieason of tiie exceptionally high rates attending the production of otherwise payable stone by companies ol limited capital ; thirdly— from the lact of the Government recWiiiing - " at the instance and recommendation of their Engineers " tbe importance and value of tbe work, as a means to a great publio oood, by guaranteeing a subsidy of £ for & of capital subscribed by the publicfacts that may be generally accepted asstiong elements in support of the bona 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 of tlie entire lengtli of the proposed tunnel outside of vested interests, and as nine distinct aud separate i -lines of gold-bearing reef traverse the cooipany's claim at a right angle, or thereabouts,' apart from any others not visible, which by reasonable inference muy 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 com. panics, estimated at, say, 10 per cent over working expanse:*. There is a distance of three-quarters of a mile ol unoccupied land from the starting point, through which several of the known lines of raef traverse. The company propose to drive a tunnel from the right to the left hand branch of tbe Inangahua river, a through distance of some two and a-half miles, and thereby intersecting a perfect network of gold-bearing reefs ; a number of which have been partially worked ou tho surface only, but with payable results, which, on the extension of the pro» posed tunnel would be at ouce turned to profitable account, as many of them would ■be tapped at depths rangiDg irom 1500 feet downwards from the outcrops, ensuring an unlimited supply of gold-bearing stone, which by a thus reduced cost of production cannot, in tlie opinion of the projectors, fail to leave a very handsome margiu of profit. The Golden Fleece Extended Gold Mining Company, whose -lease is on the proposed line, are at present raising stone from the [oft level, 700 feet below the outcrop, giving the handsome return of two ounces to the ton, which is tbe best yet obtained from the mine, and may bo accepted as 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 month, thus affording an opportunity to all classes of participating iv the venture by the limitation of liability to a minimum. A fifteen-head stamper battery is erected immediately contiguous to Iho tunnel's mouth, available for crushing any stone obtained. As a mining speculation, it presents direct and prospective adyantages* seldom met with iv kindred ventures, as illustrated by the combination referred to, and still further by recent statistics furnished to the New Zoa. land Gorernment, showing that lOS.ISSozs. of gold, the yield of 15G.862 tons, representing an average of 13 dwts. 19 grs., or nearly 14 dwts. per ton have been obtained by the various company's tbut have been, and are at work on the lines of reef proposed to be intersected. Taking the money value per lou £2 12s Bd, a clear profit of £1 ss. per ton can be secured, allowing the cost of production to be divided thus— crushing by wa er power, ss. per ton; cost of raising stone, 10s 6d, per ton ; wear, tear, management, aud contingencies, 12s 6d, Total, £1 la Bd, leaving a balance of £1 5s to be divided ao 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 FOBMS OF APPLICATIONS FOB SB ABES 'JO BE OBTAINED FROM TIIE UNDEBSIGNEB. GEORGE WISE, Manager. CHA&LEId H. KDWAIi-DS, STOEEKKE PER Black's Point. GrOoDS PACKED TO ALL PARTS OF IHE