Goliath looks to future

Press, 13 February 1986, Page 26

Goliath looks to future

PA Greymouth ; ■ The board of Goliath , Mining Company, Ltd, will t meet today to discuss the ; future direction of the, t gold, recovery operator, j which ceased mining i operations on January 27. I Goliath lost $843,048 in < the six months to Septem- ‘ ber 30, 1985, after writing ■ off $425,382 for deprecia- 1 tion and licence amortisa- ! tion. This was on top of an * interim loss of $225,000 ' the previous year. i The company was J formed in December 1983 i and re-registered as a J public company in May . 1984. ; The chairman of the , Goliath board is Mr D. O. 1 Walker and the directors { are Messrs R. W. Jones, i G. A. Havill, M. D. B. ’ Jellie and R. A. Ferguson, i Mr Jellie,- a Greymouth- ■ based accountant, said he 1 hoped to be in a position j early next week to say < what the future plans of ‘ the company would be. i Earlier, he indicated that 1 Goliath would attempt to j sell off some surplus > equipment and other assets. v One of the company’s ; biggest assets, Kanieri Motors, has traded profit--ably throughout the time . Goliath has been in busi- •' ness. , ’ There has been ■ speculation that Goliath J may look to becoming an * investment operation, in £ light of the fact that South -• Pacific Merchant Finance ’ has a term loan with the J company of -about $1.65 ; . M. In spite of an 'end to mining, Goliath lias con- « tinned to -trade on the ; Stock Exchange, with 25c : . shares sellingon Tuesday ' at 10c. . " ’—— «