Or Liquidate?

Doubt About Fiji's Goldfield Industry II Emperor Develop Or Liquidate?

situation of peculiar difficulty develop in the Fiji gold ig industry. There may he in lons of it at the annual gen neeting of Emperor Goldmines on December 15. 3 industry is centred in the 'atukoula town area (at Tavua, n the northern coast of Viti i where the once phenomen ich mines of Emperor, Loloma, lin, etc., are situated. i group of Melbourne-owned anies, of which Emperor is the have handled their earnings resources with skill and fore- It is calculated that if they now liquidated, the share rs would go out with large il gains. st of the surface or high-level »odies have been worked out, e approaching exhaustion. But ligations in recent years have i rich lodes at deep levels. If Mer are to be worked, however, nvestment of much additional il is needed.

Industry Subsidised

ause it is a valuable industry, j employment to hundreds of and exporting each year over lllion worth of gold, the Fiji •nment has consistently sub d the industry. But now the •nment is short of funds, and rumoured that the subsidies sease. s comes at a time when every s urging the introduction of capital and encouragement of ndustries. i Directors of Emperor are with a difficult choice —grim lem, and grim for the Gov ;nt, which dares not even con ate the close-down of the g industry at this time.

I the companies use their own mlated liquid assets to finance developments in the gold , in which there would be an nt of speculation? Or will play safe, distribute the rich 3 they have in hand among lolders, liquidate the com ;, and close down the gold in r at Vatukoula? alternative, of course, is some rrangement between the Gov mt and the company under the Government would have voice in the disposition of the it supplies. Naturally, such a would be sturdily resisted by te enterprise”.