MOLYNEUX GOLD DREDGING CO.
(From "The Post's" Representative.) LONDON, August 3. The first balance-sheet of the Molyneux Gold Dredging Company—to March 31—shows an excess of cash and cash assets over current liabilities of about £73,000 and in addition £11,476 has been deposited with the local power board in New Zealand. The property and plant are entered at £99,451, miscellaneous expenditure at £4373,- and preliminary expenses at £20,425. The capital issued is £209,000 in 2s shares and 410,000 shares (balance of the authorised capital) are under option at 2s 6d per share, until twelve months after the dredge starts operations:
A dredge has been ordered (the report says) and is expected to be operating before the end of the year. The company has entered into a contract with the local electrical power board on favourable terms and power will be available when the dredge is completed. Drilling of areas on option has been in progress, and an additional 313 acres have been retained. Work on the property is stated to be well up to schedule. The shares are quoted round about par. .
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https://paperspast.natlib.govt.nz/newspapers/EP19350827.2.134.4
Bibliographic details
Evening Post, Issue 50, 27 August 1935, Page 12
Word Count
181MOLYNEUX GOLD DREDGING CO. Evening Post, Issue 50, 27 August 1935, Page 12
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