Goliath loses $450,000
PA Greymouth Goliath Mining Company, Ltd, made a loss before extraordinaries of $451,778 for the year to March 31. In addition, it wrote off extraordinary items amounting to $577,394. The chairman, Mr Doug Walker, said this resulted from difficulties with equipment stoppages leading to high maintenance costs and downtime and reduced gold production. He said the situation could be related largely to the company’s first year of operation. By the end of the financial year plant problems had largely been rectified and all units were in operation. The board had also retained a professional mining geologist to assist in securing better identification of favourable ground and results.
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Press, 6 July 1985, Page 21
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110Goliath loses $450,000 Press, 6 July 1985, Page 21
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