Mount Sisa

What Is Position On Misima Is.?

Shareholders Asking

Questions.

THE latest report (issued on August 18) of Mt. Sisa Gold Fields (Papua) N.L., operating on Misima Island (Eastern Papua) has not come up to the expectations of some shareholders.

Following it, a further call has been made to provide funds for developing a big 64ft. lode, carrying good payable values, which has been opened up.

This call makes the shares paid to 1/6.

The rich ore exhibited at the trial crushing at Hadfield’s works in Sydney led shareholders to believe that when the small Harney crushing plant, pur chased by the company, was erected, rich crushings could be anticipated. It was expected that gold would be won in December of last year. To date, the result of crushings has been only about 93 ounces of amalgam.

Now comes news of the developing of a further lode, which, it has been stated, could not be economically treated by the present mill.

The questions that shareholders would like answered are: (1) Why has not the rich ore been developed, as promised in the company’s prospectus? (2) Is it advisable to push on with further development of the low grade ore, as against putting through the richer ore, and mak ing the return from that pav for the development of the lower grade, thus avoiding making calls at such a time as the present?

The board now states that it intends sending a mining expert “of high re pute” to examine and give an inde pendent report on the value of the property.

When is he going, and who is he?

Net revenue for 1928-1929 the British Solomon Islands totalled £79,935. The expenditure over the period was £91,632.