New Guinea-Papuan Gold Share Market

Activities Of The Companies

DURING the month reports have been forthcoming from various companies operating on the New Guinea and Papuan goldfields.

A statement by Mining Trust Ltd., London, on behalf of New Guinea Goldfields Ltd., was of special interest, as it provided definite in formation concerning the New Guinea com pany.

It was reported that the company had a cash balance of £174,000 at the end of Sep tember, and the monthly expenditure on dril ling and exploration was £9,000. As from January, 1931, the profit from working the alluvial would be about £4,000 per month.

In addition, the Mining Trust was under an obligation to subscribe £356,000 as and when required, New Guinea Goldfields Ltd., it was H(ed, had proved the existence of valuable HP ore for an aggregate length of more than feet, and the proving of the ore reserves and the nature of the ore at depth was being undertaken.

The shares of New Guinea Goldfields Ltd were quoted on the Sydney Stock Exchange last week at 3/11 per £1 share.

The first Junker ’plane for the Bulolo Gold Dredging Company is expected to be delivered at Salamoa by the end of next month. A start will be then made to trans port the dredging machinery.

The parent company, Placer Development Ltd., has issued its annual report. It is stated that the Southern Bulolo leases contain ap proximately 40,000,000 cubic yards of gravel of average recoverable value of 2/1 per yard.

Average value of gold is stated as £2/16/1 an ounce. Operating profit is estimated at £2,800,000.

The shares of Placer have received a great deal of attention during the month, and have risen 10/- to around £2/14/-.

Guinea Gold N.L., in a report, states that its policy is to keep a continuous lookout for opportunities to acquire and develop fresh properties, and the funds of the company are being conserved for that purpose.

Ara Creek (New Guinea), N.L., operating on Misima Island, Eastern Papua, reports that machinery has been all erected, and crushing operations are about to commence.

Another company on Misima Island, Mt.

Sisa Goldfields, N.L., has decided to send Mr.

Thebon, a well-known mining engineer, to carry out an inspection of the property. Mr.

Thebon is leaving Sydney for the field this month.

The following table shows the price on Nov. 15 of Shares in New Guinea and Papuan gold companies listed on the Sydney Stock Ex change :

Authorised

Issued

Price, November 15

Company

Capital

Number Amount Paid up Buyer Seller £ £ s. d. £ s. d. £ s. d. • £ s. d. .Akmana New Guinea. N.L pd. 30,000 140,000 0 1 0 0 1 0 — — ..Akmana New Guinea, N.L. ctg. 360,000 0 1 0 0 0 6 — — Bulolo, N.L ctg. 25,000 150,000 0 2 0 0 0 6 — — Guinea Gold, N.L 50,000 50,000 1 0 0 1 0 0 — — Mt. Kaindi, N.L pd. 50,000 90,000 0 4 0 0 4 0 0 1 0 — Mt. Kaindi, N.L ctg. 160,000 0 4 0 0 0 10 — 0 0 6 Mt. Lawson (N.G.), N.L pd. 17,500 18,000 0 2 6 0 2 6 — — Mt. Lawson (N.G.), N.L ctg. 102,000 0 2 6 0 2 3 — — Mt. Lawson Elks. (N.G.), N.L. pd. 48,000 80,000 0 4 0 0 4 0 — — Mt. Lawson Blks. (N.G.). N.L. . ctg. 140,000 0 4 0 0 1 0 — — Mt. Lawson Extended. N.L pd. 48,000 80.000 0 4 0 0 4 0 — — Mt. Lawson Extended, N.L. ctg. 140,000 0 4 0 0 1 0 — — Mt. Sisa, N.L Pd. 70,000 120,000 0 4 0 0 4 0 — 0 1 2 Mt. Sisa, N.L ctg. 190,000 0 4 0 0 1 6 0 0 4 0 0 6 New G. Development, N.L pd. 40,000 110,000 0 1 0 0 1 0 — — New G. Development, N.L ctg. 510,000 0 1 0 0 1 0 0 0 iVs 0 0 5 N.G. Gold Deposits, N.L pd. 20,000 20,000 0 2 6 0 2 6 — — N.G. Gold Deposits. N.L ctg. 100,000 0 2 6 0 1 7 — — N.G. Gold & Osmiridium, N.L. . 10,000 80,000 0 2 6 0 2 6 — 0 1 1 New Guinea Options. N.L Pd. 50.000 50,000 0 2 0 0 2 0 — — New Guinea Options, N.L ctg. 279.000 0 2 0 0 0 6 — — Nnrth East New G., N.L Pd. 50,000 90,000 0 4 0 0 4 0 — — Ah East New G.. N.L ctg. 140,000 0 4 0 0 0 10 — — River (Papua), N.L pd. 25,000 40,000 0 2 6 0 2 6 — — <Jtra River (Papua i, N.L

ctg.

140,000 0 2 6 0 1 0 — — Orimo Explorations Ltd 12,000 48,000 0 5 0 0 5 0 — — Papuan Gold Arears, N.L pd. 18.750 40,000 0 2 6 0 2 6 — — Papuan Gold Areas, N.L ctg. 100,000 0 2 6 0 0 10 — — Placer Development Ltd.* $500.00 44,515 S5 00 S5 OC 2 14 0 2 15 0 Sloane’s New Guinea, N.L pd. 25,000 25,000 0 2 0 0 2 0 Sloane's New Guinea, N.L ctg. 200,000 0 2 0 0 2 0 — 0 0 3 Solomon Islands Gold, N.L pd. 25,000 20,000 0 2 6 0 2 6 — Solomon Islands Gold. N.L ctg. 120,000 0 2 6 0 0 10 — — • In addition there are 25.485 contributing 5 dollar shares paid to 3½ dollars, which are not quoted on the Stock Exchange.