Four New Concerns

To acquire and subsequently exercise the option to purchase prospecting licence No. 218, covering 199 acres, at Tova Tova, 6 miles from Tavua, Viti Levu, Fiji, Loloma Gold Mines N.L., has been registered in Melbourne. Capital is £150,000, in 300,000 shares of 10/- each, of which 210,000 shares, paid up to 3/- per share, have been underwritten by Messrs. Wallace H. Smith and Co., and John May and Sons, of Melbourne, and Messrs. C. H.

Smith and McCaghern, of Sydney. Shareholders in Australian Gold Development N.L. have the right to apply for 50,000 of the 210,000 contributing shares, being at the rate of 25 shares for each share held in that company. The issue of 210,000 contributing shares has been subscribed.

The property has been favourably reported on by Mr. T. R. Victor, mining engineer, who states in his report of December 31, that, on the Loloma lode from the creek to No. 5 trench, is a sheet of ore almost 600 ft. in length, with an average value of over 40 dwt. a ton for an average width of 10ft.

Every 100 ft. of sinking, if the lode continued nor mal, would give 40,000 tons of ore. This estimate does not allow for any ore on the south side of the creek, where 22oz. values are showing. Then, again, at trenches Nos. 12, 13, and 14, a good payable shoot of gold-bearing ore is showing, -which must add considerably to the tonnage. In the bed of the creek the lode is partially exposed in the water and a sample, broken across 2ft. -under difficulties, returned 2oz. 18dwt. a ton, and one lump of ore from the hanging wall side under the water gave 17oz. 9dwt. a ton. This ore is definitely sulphide, carrying fine grained iron pyrites and shows no trace of free gold whatever, the gold being contained in the mineral. Mr.

Victor ventures the opinion that here the gold "has a good chance of being deep seated in its origin.

Since his sampling, he understands, the sulphide ore has been resampled by the Emperor Company’s staff, and assayed of fine gold a ton. Mr.

Victor concludes his report by stating it is with out doubt the richest surface proposition he has had the privilege of sampling, and must produce large quantities of gold if the values persist to any degree of depth. The directors are Messrs.

W. H. Smith, T. R. Victor, P. F. Cody, J. Wren, E. G. Banks, and E. G. Theodore.

Fiji Prospecting Co.

Fiji Prospecting Co. N.L. has been formed in Victoria to send a prospecting party, headed by Mr. A. G. Campbell, mining engineer, to prospect for. and, if thought advisable, to acouire auriferous areas in Fiii. Nominal capital is £10,000, in 2000 shares of £5 each, of which 1500 shares will be issued as oaid un to £2 each. Provisional direc tors are Messrs. W. H. Smith, T. R. Victor, R. A.

Rowe, and E. R. Jeffery.

Aloha Gold Syndicate

To investigate gold-mining options held in the Tavua district of Viti Levu, Fiji, Aloha Syndi cate N.L. has been formed. Mr. R. M. Boyd, mining engineer who has for some years been per manently retained by Messrs. J. D. Were and Son, proceeded to Fiji by the February Monterey to investigate the properties and other prospects which have been offered to the syndicate. The directors are Messrs. A. T. Day (chairman), R. W. Hallett and G. Packer, and the legal manager is Mr. F.

M. Gilder, 349 Collins Street, Melbourne. Author ised capital is £5000, in £10 shares, of which 120 shares have been issued. Of these 20, credited as fully paid, have been issued as part considera tion for the options, while 100, called to £5 each, Lave been issued for cash.

Koroere Gold N.L.

Nominal capital of Koroere Gold N.L., which has been formed in Melbourne, is £150,000 in 300,000 shares of 10/- each. For subscription 210,000 shares were offered at 3/- a share, and shareholders of Australian Gold Development N.L. had priority of application up to 25 shares for each share held. The vendors will receive 90,000 shares, fully paid, also £5000, which includes the cost of developmental work carried out on the pro perty since its acquisition. The property is of 200 acres, and situated at Tova Tova, six miles from Tavua, on Viti Levu, Fiji. The Koroere area, of 100 acres, adjoins the Emperor gold mines on the south, and, according to Mr. T. R. Victor, mining engineer, should embrace the main Emperor line of lode for the full length of the lease, of approximately 2000 feet. The Cardigan area is half a mile south west of the Emperor main workings. On this area, Mr. Victor states, there is a shoot of gold-bearing ore at least 200 feet in length, with an average width of from 20 to 25 feet, and as far as de veloped is of highly payable quality. Mr. Victor recommends the property as well worthy of de velopment, with an excellent mining chance of being well rewarded. The directors are Messrs.

P. F. Cody, F. T. Leahy, E. Byron Moore, T. R. Victor, J. Wren, E. G. Theodore, and Sir M. Hedstrom, of Fiji. A local board will be con stituted in Fiji. Mr. H. S. Archdall, 422 Collins Street, Melbourne, is the legal manager.

On page 51 is published an article dealing with the speculation in Fiji Goldmine shares on the Melbourne Stock Exchange.