PLANET GOLD LTD (extract from the book- Planet Mining Company Pty Ltd, 1970, )
Planet Gold Ltd was incorporated in the ACT on August 17, 1966. Nominal capital is $15,000,000. Issued capital is $6,126,936 in 12,253,872 fully paid 50 cent shares. A total of 4,012,262 options are held by the public. The company was formed to acquire interests in gold exploration in Victoria and NSW from Planet Mining Company Pty Ltd, a wholly owned subsidiary of Planet Oil Company NL.
The vendor’s agreement gave Planet Mining Company Pty Ltd a 50 percent shareholding, and the right to maintain that half interest after subsequent share issues, at no further cost. The Colonial Sugar Refining Company Ltd was granted the option to subscribe at par for 15 percent of the issued capital of the company. The company has prospects for gold in the old goldfields of Victoria and southern New South Wales; and jointly with Pacific Island Mines Ltd for uranium base metals and heavy minerals in the Durack Ranges of northwest Australia, the Victoria River and Coanjula Creek areas of the Northern Territory; for silver jointly with Pacific Island Mines near Emmaville and Buller in northern NSW; and for scheelite jointly with Pacific Island Mines Ltd at Rye Park and Callaba Creek, NSW.
The Planet Group holds 1,200,000 fully paid 25 cent shares in Pacific Island Mines Ltd. Planet Gold Ltd and Pacific Island Mines Ltd acquired about 75% of the issued capital of the delisted company Phoenix Mines NL, formerly Rye Park Scheelite NL. The exploration interests of the group are conducted and controlled by the Planet organisation through Planet Management and Research Pty Limited (Plansearch).