MOKE CREEK RIGHTS

Press, Volume CVI, Issue 31086, 15 June 1966, Page 1

MOKE CREEK RIGHTS

Company Makes Application

New Zealand Mineral Developments, Ltd., is applying for mining rights for copper ore deposits at Moke creek, near Queenstown.

Mr G. P. Walker, a Christchurch director and spokesman for the company, said this in reply to a warning by the Minister of Mines (Mr Shand).

A statement for the company issued last evening said:— “The company notified the Mines Department last week during verbal discussions that mineral licences were being taken out and the company’s solicitors have already been instructed to proceed with an application to come before the next sitting of the Warden’s Court. “As Mr Shand said, holders of mineral prospecting warrants have a prior claim over all other persons in obtaining mineral licences over the same area, and no difficulty whatever is expected in obtaining the necessary permission to mine and sell the ore as proving and further prospecting occur. “If for any Inconceivable reason permission to mine and sell the ore was refused, then the company would not

begin operations, and alt share applications would be returned in full. “The company thanks Mr Shand for his good wishes for the venture and for the very helpful co-operation given by his department and by the Geological Survey. “The directors have fairly stated in the prospectus the risk involved in such a mining proposition and believe they have taken all possible precautions to safeguard investors’ funds. “It is calculated that if the Geological Survey’s estimates of ore in the deposit are only fractionally correct, then the venture will be a success.” Discussions took place this afternoon between the company and Mr B. Vecker-Flu-gal, vice-president of W. R. Grace and Company, a billlondollar American mining, and plastics corporation. Discussions will continue today.