Edie Creek Gold Co.

Shareholders of Edie Creek Gold Mining Co., N.L., at a preliminary meeting early in June, elected Messrs. E. Ward, J. Reid, J. S. G. Wright (directors of Enterprise of New Guinea, N.L.), L. C. Shoppee and J. F. Stewart (residents of

New Guinea) as members of the board of directors, and appointed Mr. J. Hearnes (Messrs. Kaines, Hearnes and Kaines), 317 Collins Street, Melbourne, legal manager.

Nominal capital is £10,000, in 1000 shares of £10 each, of which 800 were subscribed for at £5 on application and allotment, chiefly by residents of New Guinea, and 200, fully paid, were issued to the vendor, Mr. J. M. Spence, who will also receive £150. Enterprise of New Guinea, N.L. holds 200 shares in the company. The property is on the western fall of Slate Creek, adjoining holdings of New Guinea Goldfields Ltd. The area is of approximately 57 acres.

Mr. E. Ward, who presided, said the property had been originally worked by a Sydney company, but was taken over when the labor conditions were not complied with. Mr. Spence considered there were 80,000 tons of oxidised ore developed, and the company’s prospector conservatively esti mated 40,000 tons, apart from an ore dump and ore exposed on the surface, of an average value of 80/- per ton. The lode was expected to persist at depth to the sulphide zone. Several crosscuts had revealed the lode to be up to 30 feet in width.

Laboratory tests had shown that the ore could be effectively treated by straight-out cyaniding, without milling, and it was proposed as an initial step to put in as a test plant a small plant capable of treating 100 tons per month.