PANAMA GOLD AREA.
ENTIRELY SPECULATIVE. REEFS NOT YET TESTED. LONDON, April G. The concessions granted the Panama gold expedition by the Government of Panama are the lirst of this kind ever granted to British interests. A decree has now been promulgated preventing similar concessions in future. The concessionaries will not be taxed, but merely obliged to pay a royalty of 2 per cent, of the gold exported to construct the necessary roads and bridges. Referring to the prospects of the discovery, the chairman of the recentlyformed Panama Corporation, Mr Duncan E. Alves, added the qualification: “Although I believe the reefs are fabulously rich, the whole enterprise must be regarded as entirely speculative until the engineers have an opportunity of properly opening up the country and enabling exhaustive tests to be made.” —A. and N.Z. cable.
Mr Duncan Elliott Alves was born in Dunedin in 1870, and is a son of John Alves, a civil engineer, who practised in Dunedin and later in Melbourne. He is chairman of the Venezuelan Oil Concessions, and the life president of the Voting Trustees _of the British Controlled Oilfields, Ltd.
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Manawatu Standard, Volume XLVI, Issue 109, 8 April 1926, Page 7
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185PANAMA GOLD AREA. Manawatu Standard, Volume XLVI, Issue 109, 8 April 1926, Page 7
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