Min. Res. 1:4
PA Wellington Mineral Resources (NZ), Ltd, has announced a one-for-four rights issue, most of which will be used for gold and silver mining at Waihi’s Martha Hill. The company has a 27 per cent interest in the Waihi Gold Company which has applied for a licence to mine at Martha Hill. Mineral Resources said in
a statement to the Stock Exchange that 70 per cent of the funds raised from the issue — at 25c a share — would be used to contribute to the final pre-development phase of the Martha Hill project. This would enable retention of the company’s 27 per cent share of the “future benefits from this large precious metals project.”
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Press, 7 August 1985, Page 36
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115Min. Res. 1:4 Press, 7 August 1985, Page 36
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