Speculation on Goliath
Speculation that the Goliath Mining Company, Ltd, will strike a different kind of gold by becoming an investment company similar to Capital Markets, Ltd, remains up in the air..
A Goliath director, Mr Milne Jellie, said yesterday that nothing definite had been decided as to the form the capital reconstruction would take. Goliath announced on Monday that it had ceased goldmining after incurring a $843,000 loss in the six months to September 30, and that the directors would be proposing a
capital reconstruction to shareholders. There has been speculation that, as South Pacific Merchant Finance, Ltd, has a term loan over Goliath of about $1.65M and holds about one million shares in the company, the listed miner might be a suitable way for an investment listing, along the lines of Horizon Oil Exploration, NL, becoming Capital Markets, Ltd.
Mr Jellie said that such an investment listing was a possibility, but it was only one of a number of options.
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Press, 29 January 1986, Page 34
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162Speculation on Goliath Press, 29 January 1986, Page 34
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