pre-tax profit figure in excess of last year's £21 million.
The 5s. shares at 14s. 3d., yielding 6.9 per cent, do not look dear, provided there are no unpleasant budget shocks for the industry.
Ashanti Goldfields
Sir Edward Spears gave shareholders a full report at the annual general meeting on March 30. The ore 'reserves have fallen, due to the working (to a greater extent) of the Ayeinan reef rather than the more profitable Ashanti reef. It does seem, however, that barring any further penal tax impositions, the company will be able, by an increased tonnage for the lower-grade ore, to maintain the- Is. 6d. dividend on the 4. ordinary shares, which at 7s. 6d. are now yielding as much as 19;6 per cent. This is a very attractive return for those. who care to take Possibly the last remaining risk of outright con- fiscation of the mine by Ghana.
$S GROUP
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