title: Financing companies in general and at Te Aroha in particular

authors: Hart, Philip

abstract: Those investing in mining companies were, wisely, warned to tread warily to avoid being duped by ‘wild cat’ promotions, for many companies were blatant speculations and most would fail. The three main causes of failures were misrepresentation of the value of the ore, over-capitalization combined with insufficient working capital, and mismanagement. Mining investment was a form of gambling, with professional speculators seeking quick profits not long-term rewards. Companies were floated on the basis of inadequate prospecting, and some flotations were unquestionably fraudulent. 
Laws creating no or limited liability companies were designed to protect investors, but they encouraged floating companies with inadequate capital. Issuing partly paid-up shares required shareholders to pay calls, but often they preferred to forfeit their interests; and sometimes dummies were used to avoid payment. 
Despite claims of having found good ore, much unproven ground was floated, and share prices fluctuated depending on the latest reports of ore values. Fraudulent or at best exaggerated assay results were produced, for often samples did not reflect the general values. Examples are cited of how to salt mines or provide misleading assays and of companies shepherding their properties in the hope of nearby companies making good discoveries and enabling them to sell their ground for an unearned profit. 
Management was an expensive cost, especially in overseas companies, but insufficient money was provided to prospect and develop ground. Press ‘puffery’ was condemned, but newspapers relied on information provided by mine managers. Surveyors sometimes produced plans showing reefs that did not exist, and many ‘experts’ imported from overseas were selected to produce the optimistic reports that company promoters required. Examples are cited of deliberately false reports and dubious prospectuses listing carefully selected shareholders’ names to attract investors. And in some cases companies even had either no title or an insecure one to the ground being floated.
As stockbrokers could not be trusted, there was opposition to brokers being directors. Nor could miners always be trusted, as they played the market also. Overselling and forward selling of shares were problems, but the main ones were that under-capitalized companies had insufficient working capital: several examples are cited. Some companies were over-capitalized, and it was common to erect expensive plants prematurely. Because only a small percentage of the nominal capital was paid up, companies had to rely on calls to increase their capital. And vendors and company promoters made excessive profits from floating mines.
In short, company flotation was more a form of gambling than a way of enabling honest mining.

text: Financing companies in general and at Te Aroha in particular Those investing in mining companies were, wisely, warned to tread warily to avoid being duped by ‘wild cat’ promotions, for many companies were blatant speculations and most would fail. The three main causes of failures were misrepresentation of the value of the ore, over-capitalization combined with insufficient working capital, and mismanagement. Mining investment was a form of gambling, with professional speculators seeking quick profits not long-term rewards. Companies were floated on the basis of inadequate prospecting, and some flotations were unquestionably fraudulent. 
Laws creating no or limited liability companies were designed to protect investors, but they encouraged floating companies with inadequate capital. Issuing partly paid-up shares required shareholders to pay calls, but often they preferred to forfeit their interests; and sometimes dummies were used to avoid payment. 
Despite claims of having found good ore, much unproven ground was floated, and share prices fluctuated depending on the latest reports of ore values. Fraudulent or at best exaggerated assay results were produced, for often samples did not reflect the general values. Examples are cited of how to salt mines or provide misleading assays and of companies shepherding their properties in the hope of nearby companies making good discoveries and enabling them to sell their ground for an unearned profit. 
Management was an expensive cost, especially in overseas companies, but insufficient money was provided to prospect and develop ground. Press ‘puffery’ was condemned, but newspapers relied on information provided by mine managers. Surveyors sometimes produced plans showing reefs that did not exist, and many ‘experts’ imported from overseas were selected to produce the optimistic reports that company promoters required. Examples are cited of deliberately false reports and dubious prospectuses listing carefully selected shareholders’ names to attract investors. And in some cases companies even had either no title or an insecure one to the ground being floated.
As stockbrokers could not be trusted, there was opposition to brokers being directors. Nor could miners always be trusted, as they played the market also. Overselling and forward selling of shares were problems, but the main ones were that under-capitalized companies had insufficient working capital: several examples are cited. Some companies were over-capitalized, and it was common to erect expensive plants prematurely. Because only a small percentage of the nominal capital was paid up, companies had to rely on calls to increase their capital. And vendors and company promoters made excessive profits from floating mines.
In short, company flotation was more a form of gambling than a way of enabling honest mining.

year: 2016

title: Feasibility study of green hydrogen to decarbonise New Zealand’s industries

authors: Walmsley, Michael R.W.

subjects: green hydrogen

abstract: Adopting renewable feedstocks is a transformative approach to diminish the reliance on fossil feedstocks such as natural gas and coal in the chemical industry. This research evaluates the potential for Aotearoa-New Zealand, particularly in the North Island, to harness green hydrogen production as a substitute for fossil fuels across industries. The study's scope encompasses examining renewable energy technologies, their capacity factors based on location, types of electrolysers, the conversion process, and the sizing of hydrogen storage reservoirs. An analysis of the levelized cost of hydrogen (LCOH) throughout the value chain in various scenarios has been conducted for the years 2020 to 2040 while considering the country’s resource constraints. The issue is addressed through an optimization-based framework characterized by a multi-period, mixed-integer linear programming (MILP) model. The outcomes demonstrate the capability of integrating all these components within the mathematical framework to yield optimal solutions for transitioning towards a sustainable hydrogen economy.

text: Feasibility study of green hydrogen to decarbonise New Zealand’s industries Adopting renewable feedstocks is a transformative approach to diminish the reliance on fossil feedstocks such as natural gas and coal in the chemical industry. This research evaluates the potential for Aotearoa-New Zealand, particularly in the North Island, to harness green hydrogen production as a substitute for fossil fuels across industries. The study's scope encompasses examining renewable energy technologies, their capacity factors based on location, types of electrolysers, the conversion process, and the sizing of hydrogen storage reservoirs. An analysis of the levelized cost of hydrogen (LCOH) throughout the value chain in various scenarios has been conducted for the years 2020 to 2040 while considering the country’s resource constraints. The issue is addressed through an optimization-based framework characterized by a multi-period, mixed-integer linear programming (MILP) model. The outcomes demonstrate the capability of integrating all these components within the mathematical framework to yield optimal solutions for transitioning towards a sustainable hydrogen economy.

year: 2024

title: How institutions frame mātauranga Māori (Commissioned by Waikato Regional Council)

authors: Whaanga, Hēmi

abstract: The primary questions for this report are:
1) How is Mātauranga Māori framed by Institutions?
2) How is Mātauranga Māori being operationalised by Institutions in New Zealand?
Mātauranga Māori is the intellectual capital generated by whānau, hapū and Iwi over multiple generations. It is a shared-community knowledge that is embedded in lived experience and carried in stories, song, place names, dance, ceremonies, genealogies, memories, visions, prophesies, teachings and original instructions, as and learnt through observation and copying of other community members.
It is a holistic system of orally passed knowledge, concepts, beliefs and practice. Mātauranga Māori, mātauranga ā-iwi, mātauranga ā-hapū, and mātauranga ā-whānau are dynamic, innovative, and generative systems of knowledge. Mātauranga Māori has been defined, framed, and operationalised with varying success by Institutions. Although the overall definitions vary somewhat, the general premise is that these government agencies acknowledge that mātauranga Māori is Māori-specific knowledge that is adaptive and regionally distinct. This recognition is important as it reinforces the notion that Māori are not a homogenous group, and that mātauranga Māori will differ across Iwi.
For the vast majority of institutions, improving their understanding of mātauranga Māori is an important strategic aim that can help guide their decision making, management, and monitoring procedures. Achieving this aim helps recognise the innovative potential of Māori knowledge, its contribution to council activities, and the usefulness of culturally appropriate data.
This report has identified seven factors that contribute towards a framework of understanding:
1) Acknowledging contemporary relevance and application: Iwi partners value mātauranga
Māori not only for its historic significance but its contemporary relevance in times of political change. Legislative requirements, iwi expectations, and a desire to build respectful relationships also contribute to current moves to understand and incorporate mātauranga Māori across regional council planning and decision-making activities.
2) Acknowledging cultural validity: Mātauranga Māori informs not only traditional practices but also Māori and iwi participation within Council activities.
3) Accepting epistemological difference: Eurocentric values and scientific disciplines tend to have primacy in a regional council context in part through historical tendencies and political representation. Mātauranga Māori brings a different value set and way of understanding phenomena to the table.
4) Acknowledging mana whenua responsibility for mātauranga Māori: The management and use of mātauranga represents a core responsibility of mana whenua. Relocating mātauranga and responsibility to act as a kaitiaki from a whānau, hapū or iwi to an institution, is a sensitive topic. Mātauranga is often vested with specific people (kaitiaki) or with local whānau and hapū to ensure the responsibilities for protecting the environment remain with those that live there.
5) Developing a more nuanced understanding of mātauranga Māori: Developing a more nuanced understanding of the different disciplines and content that exist under the broad definition of mātauranga Māori is necessary if Councils are to incorporate mātauranga Māori across a greater range of their work programmes.

text: How institutions frame mātauranga Māori (Commissioned by Waikato Regional Council) The primary questions for this report are:
1) How is Mātauranga Māori framed by Institutions?
2) How is Mātauranga Māori being operationalised by Institutions in New Zealand?
Mātauranga Māori is the intellectual capital generated by whānau, hapū and Iwi over multiple generations. It is a shared-community knowledge that is embedded in lived experience and carried in stories, song, place names, dance, ceremonies, genealogies, memories, visions, prophesies, teachings and original instructions, as and learnt through observation and copying of other community members.
It is a holistic system of orally passed knowledge, concepts, beliefs and practice. Mātauranga Māori, mātauranga ā-iwi, mātauranga ā-hapū, and mātauranga ā-whānau are dynamic, innovative, and generative systems of knowledge. Mātauranga Māori has been defined, framed, and operationalised with varying success by Institutions. Although the overall definitions vary somewhat, the general premise is that these government agencies acknowledge that mātauranga Māori is Māori-specific knowledge that is adaptive and regionally distinct. This recognition is important as it reinforces the notion that Māori are not a homogenous group, and that mātauranga Māori will differ across Iwi.
For the vast majority of institutions, improving their understanding of mātauranga Māori is an important strategic aim that can help guide their decision making, management, and monitoring procedures. Achieving this aim helps recognise the innovative potential of Māori knowledge, its contribution to council activities, and the usefulness of culturally appropriate data.
This report has identified seven factors that contribute towards a framework of understanding:
1) Acknowledging contemporary relevance and application: Iwi partners value mātauranga
Māori not only for its historic significance but its contemporary relevance in times of political change. Legislative requirements, iwi expectations, and a desire to build respectful relationships also contribute to current moves to understand and incorporate mātauranga Māori across regional council planning and decision-making activities.
2) Acknowledging cultural validity: Mātauranga Māori informs not only traditional practices but also Māori and iwi participation within Council activities.
3) Accepting epistemological difference: Eurocentric values and scientific disciplines tend to have primacy in a regional council context in part through historical tendencies and political representation. Mātauranga Māori brings a different value set and way of understanding phenomena to the table.
4) Acknowledging mana whenua responsibility for mātauranga Māori: The management and use of mātauranga represents a core responsibility of mana whenua. Relocating mātauranga and responsibility to act as a kaitiaki from a whānau, hapū or iwi to an institution, is a sensitive topic. Mātauranga is often vested with specific people (kaitiaki) or with local whānau and hapū to ensure the responsibilities for protecting the environment remain with those that live there.
5) Developing a more nuanced understanding of mātauranga Māori: Developing a more nuanced understanding of the different disciplines and content that exist under the broad definition of mātauranga Māori is necessary if Councils are to incorporate mātauranga Māori across a greater range of their work programmes.

year: 2017