New Guinea-Papua Gold Sharemarket

Activities Of The Companies

THE main feature of dealings in shares in New Guinea and Papuan goldmining companies on the Sydney Stock Exchange during the month was the further strengthening of Placer Development Ltd.

Two months ago these shares were around 48/-, last month they reached 66/-, and they are now commanding about 85/-. The market otherwise has been quiet. Buyers are offering 30/- for Guinea Gold shares, but there are no sellers.

The consulting engineer for the New Guinea Developments, N.L. (Mr. E.

Bails), has reported that the work done on the company’s leases during the past year has proved that the leases are situated in the mineral belt, that the evidence obtained in the main drive of the No. 1 big reef show that better values are only just starting in th 6 present horizon, and that on this reef the sinking of a shaft has been com menced. Mr. Bails reports that he is driving an adit to 50 feet below the No. 2 adit on the No. 1 big reef. The option of purchase to the American

group has been completed, and its en gineer is reported to have left New York. In order to clean up the share register in view of this option the direc tors have decided to forfeit all shares in the capital of the company on which calls remain unpaid.

Ara Creek (New Guinea), N.L., has reported: “A radio received on Febru ary 2 from the mine manager stated: The plant has started. This shows that the long, perhaps unprecedented, drought has ended, and that continu ous working can now be expected. The company’s consulting engineer was, early in January, on the property, and is quite satisfied with the location and erection of the plant. Twenty-five sam ples sent from the property in Febru ary, 1930, other samples sent by Mr.

Pauli in December last, and further samples brought by Mr. Huntley last month, all conclusively confirm the original estimate of the gold contents.”

The following table shows the price on February 16 of shares in New Guinea and Papuan gold companies listed on the Sydney Stock Exchange:

Authorised Shares Issued. Price, February Is.

Company

Capital.

Number.

Amount Paid Dp.

Buyer.

Seller £ £ S. d. £ s. d. £ s. d. £ s. d.

Akmana New Guinea, N.L. ... pd. 30,000 140,000 0 i 0 0 1 0 — — Akmana New Guinea, N.L. ctg. 360,000 0 i 0 0 0 7 — —

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 1 10 0 Mt. Kaindi, N.L ... pd. 50,000 50,000 0 4 0 0 4 0 — — Mt. Kaindi, N.L 160,000 0 4 0 0 1 3 — 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 BIks. (N.G.),

N.L. pd.

48,000 80,000 0 4 0 0 4 0 — — Mt. Lawson BIks. (N.O.),

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 70,000 120,000 0 4 0 0 4 0 — Mt. Sisa, N.L ctg. 190,000 0 4 0 0 1 9 — 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 5 0 0 5 Vi

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 9 N.G. Gold & Osmiridium, N.L. 10,000 60,000 0 2 6 0 2 6 New Guinea Options. N.L. ... pd. 50,000 50,000 0 2 0 0 2 0 0 0 1V 2 0 0 2 Vi New Guinea Options, N.L. ... ctg. 279,000 0 2 0 0 0 7 0 0 1 0 0 IVa 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 io y 2 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 44,515 $5.00 $5.00 4 2 0 4 5 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 0 8 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 1 0 * In addition there are

25,485 contributing

5 dollar shares paid to 3Vfe dollars. which not quoted on the Stock Exchange.