MINING NEWS
NORTH ISLAND FIELDS
Recent developments in the gold-mining industry indicate that overseas capital has become interested in fields in the North Island to the extent of testing some likely propositions (says the "New Zealand Herald"). The experience of the past few years, has rather indicated that there was nothing to interest overseas capital in North Island fields. Attention has been directed almost exclusively to the South Island and overseas engineers have been testing very large areas in Central Otago and the West Coast. It is recognised that alluviial propositions are always more attractive to capital owing to the facility with which claims\can be tested. With reefing propositions, a large amount.of expenditure is generally required before big capital interests will even' consider investigation. It ib understood that some North Island propositions are engaging the attention of overseas 'interests which have an eye to working by mass production at a Very lofr cost. In addition, capital is being raised locally and in Australia to do preliminary testing of substantial reef systems with a view to interesting larger capital at a later date. Areas receiving attention are in the neighbourhood of Opitonui, Coromandel, Neavesville, and Puru, near Thames, and other localities closer to Waihi.
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https://paperspast.natlib.govt.nz/newspapers/EP19340305.2.154.4
Bibliographic details
Evening Post, Volume c, Issue 54, 5 March 1934, Page 12
Word Count
203MINING NEWS Evening Post, Volume c, Issue 54, 5 March 1934, Page 12
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