MINING NEWS
Slab Hut Creek.—The reduction in the price of gold has led to the Slab Hut Creek Dredging Company, Ltd., going into voluntary liquidation. The company commenced dredging in June, 1942, and during the period of its operation produced 9986 ounces of gold and had paid in income and. gold export taxes £10,740, and shareholders received in dividends £5550. During 1948 negotiations for the alteration of the dredge and for the acquisition of a claim adjoining the company’s property were almost completed. Consequent upon the reduction in the price of gold to the producer, which followed upon the alteration of the exchange rate in August last, these negotiations were discontinued.
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Bibliographic details
Otago Daily Times, Issue 26996, 3 February 1949, Page 7
Word Count
111MINING NEWS Otago Daily Times, Issue 26996, 3 February 1949, Page 7
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