N. Guinea Gold Share
p. 17 · Read in the full issue
Market
No changes of any note occurred during the month in the shares of New Guinea and Papuan gold com panies, listed on the Sydney Stock Ex change.
Buyers of Placer Development Ltd. shares, who, a month ago, were offering 88/-, are now offering 86/-.
The quotes for the various shares on August 14 were: Mount Sisa, paid, b /I; New Guinea Developments, s /I; Ori omo Explorations, b 1/2, s 1/10; Placer Development Ltd., b 86/-.
N.G. Goldfields
New Guinea Goldfields Ltd. have advised that the following progress report for July has been issued by the Mining Trust, Limited, consulting engineers for the company: Location 3; West drift was advanced 30ft. to a total of 1035 ft., in ord assaying 4.4 dwt. gold and 320 z. silver per- ton, over a width of 40 inches. Diamond drill hole was ad vanced to a depth of 97ft. Sludge from a width of 4ft. assayed 7dwt. gold and 13ozs. silver per ton.
Location 8, No. 2 level: The adit crosscut cut the vein at 285 ft. from the portal, from whence the drift was advanced 95ft, south east, in ore averaging 11.8dwt. gold and 7oz. silver per ton over a width of 46 inches. The full width has not been exposed. A winze from No. 1 adit was sunk 35ft., in ore aver aging 9.7dwt. gold and 19oz. silver per ton, over a width of 43 inches. The full width has not been exposed.
Location 22: No. 1 drift was advanced 55 ft., in ore averaging 6.6dwt. gold and 4oz. silver per ton, over a width of 34 inches.
Overseas shipping for the year ended March 31, 1931, at the port of Avarua, Rarotonga, reached a total of 35 ves sels. Twenty-four of these were the Australia-New Zealand-San Francisco mail steamers, six the Union Steamship Co.’s fruit steamer from Auckland, and five miscellaneous.