Mount Isa Prospects
Directors of Mount Isa Mines. Ltd., Queensland copper producer, are not considering recommendation of a bonus issue at present, the chairman, Mr G R Fisher, told shareholders at the company’s annual meeting The chairman made this statement in reply to a shareholder’s question. The matter had been considered by directors but the board had to keep the interests of stockholders in balance with the needs of the company's expansion programme, he said.
Mr Fisher said that shareholders’ interests would not be forgotten by the board. The copper market looked exceedingly stable. “Many major producers are watching the market closely and they have been controlling the London price within close limits for the last 12 months," he said.
“Lead and zinc prices are now very low but I think they should improve before long as the statistical position is good” He said that these prices should be higher by this time next year and stocks now are fairly high. The company could mine almost all the ore in its opencut within five years, Mr Fisher said.
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Press, Volume CI, Issue 29972, 6 November 1962, Page 23
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178Mount Isa Prospects Press, Volume CI, Issue 29972, 6 November 1962, Page 23
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