Gold In New Britain

Present But Not Payable

Mr. A. Travers Black, a mining ex pert, who has been associated for many years with gold mining in New Guinea, has reported to Nakanai Mines Ltd., a Sydney company, that its holding on the island of New Britain is unpay able.

Mr. Black spent about a month on the property and returned to Sydney in July last. He found that an ex tensive mineral belt existed through the mountains of the island, but, in his opinion, there was nothing that could be payably worked.