Investors Warned To Seek Advice
Wew Zealand Press Association?
WELLINGTON, February 13. Prospective purchasers of shares in 1 prospecting companies should seek professional guidance before attributing too much importance to certain announcements, the chief inspector of mines in the Mines Depart- ’ ment (Mr L. S. Jones) said today.
He said that a reported re- ( mark by Sir Colin Syme, the i chairman of Broken Hill Proprietary Company, Ltd, “that it is irresponsible in most circumstances for directors of a prospecting company to an-
nounce the results of a first drill hole,” was most timely in view of certain recent statements attributed to prospecting companies in New Zealand and Australian newspapers. Announcements should be supported by figures relating to the value and quantity of the mineral discovered, be said. “The discovery of any mineral is only geologically interesting unless at the same time the announcement states that it has been found in economic quantity.”
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Press, Volume CIX, Issue 32222, 14 February 1970, Page 16
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153Investors Warned To Seek Advice Press, Volume CIX, Issue 32222, 14 February 1970, Page 16
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