Gold fails to hold partner
PA Dunedin
Gold in email quantities has been found off the Otago coast, but a New Zealand company may have to work alone if it wants to recover it. The gold has been discovered by Minzimp Exploration, Ltd, a subsidiary of 1.C.1. (N.Z.). Ltd, but an Australian company that had a financial interest in the venture has decided to withdraw. Newmont Pty, Ltd. an Aus-tralian-based subsidiary of Newmont Mining Corporation l of America, told 1.C.1. that the results of samples taken from off the Otago coast “were not sufficiently encouraging for them to continue with the project.” However, the corporate relations manager of 1.C.1. (Mr I McCallum) said from Wellington yesterday, that Minzimp expected to continue exploration, and might look for a new partner. i
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Press, 24 May 1977, Page 10
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130Gold fails to hold partner Press, 24 May 1977, Page 10
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