MINING

Evening Star, Issue 19614, 21 July 1927, Page 3

MINING

ST. BATMANS GOLD-MINING COMPANY, LTD. A circular letter to the shareholders of the St. Hatha ns ,Gold-mining Com (•any states that since the nnsnceessinl appeal to shareholders for more capital to develop the mine and place it on a prolit-sharing basis, the directors have investigated every possible avenue lor raising further capital. Tho Government has on several occasions expressed its willingness to assist financially in the development of the national mineral wealth, and as a last resource the Alines Department was' approached for assistance. Wlut the result of these representations will bo is not yet certain, but the directors are not without hope that some assistance will bo granted. Should this assumption prove incorrect, liquidation is the only alternative, and, with the view of conserving the funds remaining at the company’s disposal, a meeting has been called for tho purpose ot considering and, if thought fit, passing the following special resolution:—“ That the company bo wound np voluntarily, and that RFinch, of Oamaru, he appointed liquidator for the purpose of such winding up.” Should the resolution be passed by the requisite majority, it will be submitted for confirmation as a special resolution to a second extraordinarygeneral meeting which will be subsequently convened. As some weeks will elapse before the date of the first meeting,"it is hoped that a definite reply will be received from the Government, and, if favorable, the special resolution will not- be proceeded with.