Goliath buys goldminer
Goliath Mining Company, Ltd, has bought Prodigal Mining, Ltd, a West Coast goldminer, the directors announced yestrday. Prodigal held 21 licences and mining applications on the West Coast and the purchase added 3391 ha to Goliath’s mining licence area. Included in the sale are Prodigal’s two dredges on
Kapitea Creek, near Kumara, and its gold mining interests in Papua New Guinea.
It is believed that Prodigal was bought for more than $2 million in cash.
Mr lan Cummings, a director of Prodigal, would continue to manage that company’s business, Goliath’s directors said.
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Press, 24 April 1987, Page 29
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95Goliath buys goldminer Press, 24 April 1987, Page 29
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