THE NOKOMAI GOLD MINING COMPANY, LTD.

Otago Daily Times, Issue 22133, 11 December 1933, Page 3

THE NOKOMAI GOLD MINING COMPANY, LTD.

TO THE EDITOB. Sir, —The Nokomai Gold Mining Company has now been at work' with the drag-line excavator for nearly nine months. The prospectus inviting applications for shares contained the statement that “ a provisional contract has been made with Industries, Ltd., for a guaranteed minimum delivery of gravel at the rate of 540,000 cubic yards per annum for a fixed price of Cid per yard. ’ It would be interesting to know whether that contract has been fulfilled and, if it has not, whether the Nokomai Company has an action at law against Industries, Ltd., for failure to fulfill this contract. If the Nokomai Company has already made any payments on account to Industries, Ltd., the directors should seriously consider the question of insisting on a return of the, amounts paid. It is reported that the return expected in a week or so will be at least 500 oz of gold. Seeing that the excavator is evidently incapable of doing the work which Industries, Ltd., contracted to do, it is to be hoped the directors of the Nokomai Company will retain the gold obtained and pay none of the proceeds to Industries, Ltd., until it has carried out its contract. The returns so far obtained prove the claim to be rich in gold, but it- is evident that the drag-line excavator cannot fulfill what was claimed for it. —I am, etc., Shareholder No. 2.