KAWARAU GOLDMINIWG.

Auckland Star, Volume LX, Issue 292, 10 December 1929, Page 4

KAWARAU GOLDMINIWG.

PROPOSED AMALGAMATION. (By Telegraph.—Own Correspondent.) DUNEDIN, Monday. The fifth annual report of the Kawarau joldmining Company states: "The halfyearly report which was issued to sharelolders in July dealt principally with the amalgamation with claim holders and the •easons for 110 satisfactory settlenent having been reached between the went company and its lessees. I't is disippointing to have to inform shareholders )nce more that the position is still inlefinite. and the issue of this report has )een delayed in the hope that some finality night have been reached. "At present negotiations are taking >lace between the legal representatives of 30th parties in an endeavour to prepare in agreement. As modifications of the ;erms originally proposed, it has now been igreed that every claim holder will be jiven reasonable opportunity to become a >arty to the amalgamation, that those •laim holders who do not wish to come n or are unable to do so will be relieved >f further liability under their leases, and -hat they in turn will release the company. "It has been agreed that £500 will be idvanced out of the £10,000 deposited with ;he Public Trustee to cover the formation :xpenses of the new amlagamatcd company, and that any subsequent costs of ;ransferring the assets to the new com)any will be paid as incurred. In view of ;he present negotiations it is probable that t settlement will be reached in the near r uture."