Shares in Gold Mines.
The warning issued by the committee of the Dunedin Stock Exchange against incautious investment in gold mining shares is reinforced this morning by Mr G. J. Anderson, a former Minister for Mines, in a letter to "Thb Press." Mr Anderson points out that the recent discoveries on the Cromwell Flat will benefit the country only if the claims are carefully tested and financed with a minimum of speculation. " There is no reason," he contends, " why practically every " alluvial gold mine should not be " thoroughly tested by boring, shaft- " ing, or tunnelling before it is " placed on the market for the sub- " scription of capital for develop- " ment." Investors would do well to read both the Dunedin Stock Exchange's statement and Mr Anderson's letter very carefully. Those who do will discover that some of the mining prospectuses thrust upon them c."? not as ingenuous as at first they seem. The history of gold mining in New Zealand, and for that matter in any other part of the world, ought to make it unnecessary to protect investors against fraudulent or unbusinesslike flotations; but unfortunately investors have even shorter memories than electors.
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Press, Volume LXIX, Issue 20915, 24 July 1933, Page 8
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193Shares in Gold Mines. Press, Volume LXIX, Issue 20915, 24 July 1933, Page 8
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