SEARCHING FOR GOLD.

Thames Star, Volume LXV, Issue 18277, 28 August 1931, Page 4

SEARCHING FOR GOLD.

WORK AT 'COROMANDEL. LOW-GRADE PROPOSITION. The New Zealand Financial Times says that the Dominion has already experienced two gold booms, and another is now starting. The auriferous areas of New Zealand have hardly been scratched, and although there may be no fabulous El Dor ados, there are unquestionably many known and proved auriferous belts, only requiring capital and management to be payable propositions.

. Intense activity in gold mining always comes with a depression, and the lower costs fall, the more profitable gold mining becomes. Six new gold mining companies are on the market appealing for capital in New Zealand this year, and some of them will do very well. Many more companies are in the process of formation, and a large increase in gold production and the numbers of people employed in this industry may be confidently expected.. At Coromandel a low grade ore area has been located, which has been claimed by leading and responsible business men as the finest low grade ore area in the world. Briga-dier-General Sir George Richardson, K.8.E., C. 8., C.M.G., Sir George Fowlds, Mr H. R. Jenkins and Mr Hugh Viekerman, M.'Sc, M.lnst., C.E., aro on the board of directors of this company appealing for share capital in the ground floor syndicate company to prove beyond any shadow of doubt that the area is so vast as to offer many years of profitable working. The syndicate company, armed with its proofs, will then seek to obtain the £500,000 required on the London market. No patriotic New Zealander worth £IO,OOO or over, and satisfied with the proposition, would refuse to give £lO to such a cause, let alone take the chance of personal gain by taking up shares in a gamble not only for his own pocket but also for the economic welfare of the country where practically the whole of his capital is invested.