SHARES ISSUE FOR PIEDMONTESE GOLD MINES AND GOLD PLACERS BETWEEN EIGHTEENTH AND TWENTIETH CENTURIES. The issue of shares for Italian mines became frequent in the mid-nineteenth century and, as regards the Piedmont region, was favored by...
moreSHARES ISSUE FOR PIEDMONTESE GOLD MINES AND GOLD PLACERS BETWEEN EIGHTEENTH AND TWENTIETH CENTURIES.
The issue of shares for Italian mines became frequent in the mid-nineteenth century and, as regards the Piedmont region, was favored by the opening to foreign currencies desired by the minister Count of Cavour
The establishment of mining companies lasted for over half a century and affected, in particular, the gold mines of the Alps and the gold placers of some rivers flowing into the Po. For the most part, these were foreign stock exchange speculations, which did not have much following, if not the issue of registered shares, sometimes very beautiful, which never gave dividends and were never compensated.
The best and most well-known mining company was the Pestarena United Gold Mining Company Ltd. established in 1867, in London, from previous companies holding the Val Anzasca, the Val Antigorio and the Val Toppa gold mines, in the Ossola region: it operated with moderate success, from 1869 to 1898, producing (officially) almost all of the Italian gold (about 6 tons). Following the drop in production and economic difficulties, a new The Pestarena Mining Company Ltd. was formed: in 1902 this was put into liquidation managing to pay some debts, but not the shareholders.
The companies interested in the placers did not produce gold, despite the launch of floating dredgers in the rivers Orco (1886), Orba (1887) and Ticino (1890, 1891, 1892).
