New Guinea—Papuan Gold Sharemarket

Activities Of The Companies

Placer Development Ltd, Has

shown most activity on the Sydney Stock Exchange during the month. The shares, which a month ago were sold around 48/-, are now commanding 66/-.

The report of its subsidiary (Bulolo Gold Dredging Ltd.) issued on January 6, points to steady progress being made “towards the working by dredges of the rich Bulolo field. The report stated “that the new headquarters camp and dredge construction camp were being built adjoining the new Bulolo aero drome, which was now being regular used by the Junker ’planes of Guinea Airways Limited. The first G.31 Jun ker purchased by the company was suc cessfully landed at Lae, ex Temeraire, on December 31. The second similar machine was due in Sydney on Febru ary 2, in the Troja.

New Guinea Developments.

It is reported that an American group has taken an option over New Guinea Developments leases.

The engineer of the American group leaves New York early in January “to inspect and report on the property.

He will be allowed until April 15 to do this. Should the report be favour able the American company will super

vise development work, and pay New Guinea Developments a minimum of £1,000 a month to cover expenses. At the end of that time, if it is decided to take up the option, New Guinea Devel opments is to be paid £25,000 in cash and will receive a quarter share in fully paid-up shares in a company with a capital of at least £100,000.

Kaindi Share Distribution.

The Directors of Kaindi Gold (N.L.) have decided to make a distribution of New Guinea Goldfield shares in the proportion of 25 for each share held in Kaindi Gold. Of the 55,000 shares received by the Kaindi Gold as consid eration for the sale of a lease in New Guinea, the distribution notified will account of 50,000. When the transfer of another lease has been completed.

Kaindi will receive a further allotment of 5,000 shares.

New Guinea Goldfields received a fair amount of buying support during the month and are now quoted unoffi ally at around 7/6.

The following table shows the price on January 13 of shares in New Guinea and Papuan gold companies listed on the Sydney Stock Exchange:

Authorised Shares Issued.

Price. January 10

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

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 — C 0 6 Mt. Kaindi, N.L ctg. 160.000 0 4 0 0 1 0 0 0 3 Mt. Lawson IN.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 Blks. (N.G.),

N.L. pd.

48,000 80,000 0 4 0 0 4 0 Mt. Lawson Blks. (N.G.i, 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 TVIt. 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 0 10 0 0 11 Mt. Sisa. N.L 190,000 0 4 0 0 1 9 0 0 3 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 4 .0 0 6 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 I 7 N.G. Gold & Osmiridinm, N.L. 10,000 80,000 0 2 6 0 2 6 0 1 0 New Guinea Options, N.L. ... pd. 50,000 50,000 0 2 0 0 2 0 0 0 1 0 0 3 New Guinea Options, N.L.

.. . ctg.

279,000 0 2 0 0 0 7 0 0 0V 2 0 0 1 North East New G., N.L. pd. 50,000 90,000 0 4 0 0 4 0 — North East New G.. N.L, ctg. 140,000 0 4 0 0 0 10 — — Oba River (Papua), N.L. .. pd. 25,000 40,000 0 2 6 0 2 6 — ■Oba River (Papua), N.L. .

ctg.

140,000 0 2 6 0 1 0 — Oriomo Exploration Ltd. . 12.000 48,000 0 5 0 0 5 0 — Papuan Gold Areas, 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 Sir

$5.00 $5.00 3 5 6 3 6 0 Sloane's New Guinea, N.L. pd. 25,000 25,000 0 2 0 0 2 0 — — JSloane’s New Guinea, N.L. ctg. 200,000 0 2 0 0 2 0 — 0 0 2 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.