MINING ENGINEERS’ INACCURACY
Stock Exchange Criticism
“GOLD HAS GREAT FUTURE IN NEW ZEALAND” By Telegraph—Press Association. Christchurch, January 31. In his address to members at the annual meeting to-day of the Christchurch Stock Exchange, Mr. 1.1. Kitson, chairman, remarked that the outstanding fact in gold mining in New Zealand was the inaccuracy of many of the gold milling engineers’ reports. Not only were their bore values unreliable but their estimates of outlay and the time necessary for gold production, had been misleading. Many promoters and vendors had published these reports in good faith and had to bear the brunt of undeserved criticism for failure.
The time was coming when directors and others would not employ engineers who had failed in their estimates, for if they did, the public would not support the notation.
“I am of the opinion that gold mining in New Zealand has a great future, provided it is in skilful and capable hands,” said Mr. Kitson. “There is every indication of the price of gold being maintained. In fact, a still higher price may be confidently anticipated.” He advocated, however, the abolition of the fiat tax on gold and the .substitution for it of a' special tax on net profits.
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Dominion, Volume 28, Issue 109, 1 February 1935, Page 12
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203MINING ENGINEERS’ INACCURACY Dominion, Volume 28, Issue 109, 1 February 1935, Page 12
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