Mr REED (Deputy Chief Minister) - 1996-10-16
Mr REED (Deputy Chief Minister): Mr Speaker, I wish to provide some further information in relation to matters that were discussed in Question Time about my shareholdings ...
Mr Stirling: Did you mislead the parliament?
Mr REED: No, I did not mislead parliament. You might be interested in the answer. You seldom are, but you might be interested on this occasion.
In relation to the shares listed on my register of members' interests return pertaining to Enterprise Gold, I am advised that the company has no titles that are held in the Northern Territory. It is not active at all although it has miner's right No 147. The Department of
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Mines and Energy cannot find a phone number for the company. The miner's right that it holds is a $20 perpetual one. Even if it does nothing, I gather the right will remain forever. I do recall, in the correspondence that I received some years ago from this company, that there was ...
Mr Bell interjecting.
Mr REED: You do not want to hear the answer. All you want to do is muckrake. You do not want to hear the answer because you are not interested in the truth. I seem to recall that there was some battle between the principals of Enterprise Gold and I do not think the scrip is worth very much, if anything at all, at the moment. However, I will provide the information for honourable members.
In relation to West Coast Holdings, I quote from a document:
We advise that Mr Peter Michael Nelson was appointed liquidator of the above company on 6.2.91. The report
as to the affairs as supplied by the receiver and manager discloses assets estimated to realise
$3 614 150 available for unsecured creditors amounting to $10 876 608, including contingent liabilities of
$25 929 000. Hence the deficiency of $7 262 458.
As I said earlier, I would advise honourable members not to take my advice when they are considering which shares to buy. It continues:
In the circumstances, it is unlikely that any return will be made to members of the company as the shares
are clearly worthless.
C. Dawes
(For the Liquidator).
That is dated 15 April 1993 and is from Nelson, Robson and Company, Perth.
Clearly, the muckraking exercise embarked on by the members opposite, following instructions received from the federal Leader of the Opposition, Kim Beazley, has backfired on them. There is no basis to their allegations. I ask them to be more positive and supportive of Territorians in the future rather than simply lying in the gutter.
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Mr Stirling: Did you mislead the parliament?
Mr REED: No, I did not mislead parliament. You might be interested in the answer. You seldom are, but you might be interested on this occasion.
In relation to the shares listed on my register of members' interests return pertaining to Enterprise Gold, I am advised that the company has no titles that are held in the Northern Territory. It is not active at all although it has miner's right No 147. The Department of
Page 1709
Mines and Energy cannot find a phone number for the company. The miner's right that it holds is a $20 perpetual one. Even if it does nothing, I gather the right will remain forever. I do recall, in the correspondence that I received some years ago from this company, that there was ...
Mr Bell interjecting.
Mr REED: You do not want to hear the answer. All you want to do is muckrake. You do not want to hear the answer because you are not interested in the truth. I seem to recall that there was some battle between the principals of Enterprise Gold and I do not think the scrip is worth very much, if anything at all, at the moment. However, I will provide the information for honourable members.
In relation to West Coast Holdings, I quote from a document:
We advise that Mr Peter Michael Nelson was appointed liquidator of the above company on 6.2.91. The report
as to the affairs as supplied by the receiver and manager discloses assets estimated to realise
$3 614 150 available for unsecured creditors amounting to $10 876 608, including contingent liabilities of
$25 929 000. Hence the deficiency of $7 262 458.
As I said earlier, I would advise honourable members not to take my advice when they are considering which shares to buy. It continues:
In the circumstances, it is unlikely that any return will be made to members of the company as the shares
are clearly worthless.
C. Dawes
(For the Liquidator).
That is dated 15 April 1993 and is from Nelson, Robson and Company, Perth.
Clearly, the muckraking exercise embarked on by the members opposite, following instructions received from the federal Leader of the Opposition, Kim Beazley, has backfired on them. There is no basis to their allegations. I ask them to be more positive and supportive of Territorians in the future rather than simply lying in the gutter.
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Last updated: 09 Aug 2016