GOLD MINING AND FINANCE.

Evening Post, Volume CXVIII, Issue 33, 8 August 1934, Page 18

GOLD MINING AND FINANCE.

Sir Robert Home, chairman of directors of Zinc Corporation, Ltd., at the recent annual meeting in London, reminded shareholders that at previous meetings he had emphasised the importance of tho development of the mining industry in Australia. He said that, in association with other important groups, the corporation had taken steps to promote the exploration and development of gold-min-ing areas in Australia. Important areas had been reserved and options secured _ over territory in which geological conditions wero considered by experts to be most favourable. Many of the^ projects bore a most promising aspect. To simplify the control of these operations, aud to provide a reasonable basis of finance for exploration and development, it had become necessary to erect a central organisation to take over the interests acquired. For this purpose a company, entitled Gold Exploration aud Finance Co. of Australia, Ltd., had been registered in London, with a nominal capital of £2,000,000, in shares of 10s each, and an Issue would bo made on July 30, of 1,800,000 scares. The whole of tho issue would be underwritten, free of cost to the company. Nine hundred thousand shares would be applied for and taken firm by tho venders.