MINING NEWS.
LOLOMA (FIJI) MINES. ISSUE OF 75,000 SHARES. It has been decided by the directors of r.oloma (Fiji) Gold Minos, X.1,., to issue shares of .",/ eaeli, paid to 1/0 a share, at £1 each. Funds are required to meet financial obligations relating to the intensive .development and prospecting policy, which has been followed since last annual meeting in November. In addition to expenses attendant upon this programme, there will bo tlie outlay to complete the company's treatment plant, together with its share of capital expenditure to be incurred by tile Tavua Power Pty., Ltd. For these reasons more capital than was originally estimated will be required. Shareholders will be given the opportunity of subscribing to the new issue pro rata to their holdings on the basis of one share for every ten held, on payment of £1 per share. YIELDS OF COMPANIES. — i Hinm Dredge (West Coast)243oz for 55,91(1 yards. New River (West Coast).—66oz for 96 hours and 500 yards. Mataki (Murchlson). —320z for 136 hours and 9'JOO yards.
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https://paperspast.natlib.govt.nz/newspapers/AS19370224.2.24
Bibliographic details
Auckland Star, Volume LXVIII, Issue 46, 24 February 1937, Page 4
Word Count
170MINING NEWS. Auckland Star, Volume LXVIII, Issue 46, 24 February 1937, Page 4
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