$6.39M paid for gold stake
New Zealand Goldfields has released the price received from CRA, Ltd, for its stake in the Kelian gold project in Indonesia. CRA has paid New Zealand Goldfields 5U53.672M (SNZ6.39M) for the stake. On Tuesday, Mr Maurice Goodwin, chairman of New Zealand Goldfields, announced that a dispute with CRA about the stake had been settled. CRA said earlier this year that because of non-payment by New Zealand Goldfields, CRA was exercising its right to buy the 9.45 per cent stake at 95 per cent of market value. New Zealand Goldfields told the Stock Exchange yesterday that the sale of the interest was accompanied by a full global settlement with CRA and various interested parties of all disputes and court actions relating to the Kelian gold project.
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Press, 22 June 1989, Page 28
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130$6.39M paid for gold stake Press, 22 June 1989, Page 28
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