Sepik Gold

Dr. Atcherley to Search in N.W.

New Guineea

DH. J. R. ATCHERLEY, well-known in the Mandated Territory of New Guinea as a skilful gold-prospector and explorer, sailed from Sydney for Salamaua with Mr. George Beenhan, mining en gineer, by the Montoro on February 20.

On behalf of Morobe (New Guinea) Gold Options N.L., they will recruit a line of boys, and will then leave on an eight months’ prospecting and exploring trip into the north-west interior of New Guinea.

The expedition intends to travel 300 miles up the great Sepik River, and then cut across into the little known region between the Sepik and the borders of Papua and Dutch N. Guinea, where the party will prospect for gold. Dr. Atcherley is confident that rich dirt in payable quantities will be found in the area he intends to search.

Morobe (New Guinea) Gold Options N.L. was formed in Victoria at the middle of February with a capital of £7,500, the shares of which, paid to £3, were quoted at the end of February on the Mel bourne Stock Exchange at £ll. The directors of the new company include Brigadier-General E. A. Wisdom, C.B., C.M.G., D.S.O. (Administrator of New Guinea from 1921 to 1932), Mr. Wallace- Smith (stockbroker of Melbourne), Mr.

Douglas (mining investor) and Mr. Blake more (solicitor). The Melbourne firm of Stringer and Phillips is the legal adviser.

Some months ago, Dr. Atcherley with Mr. Albert E. Palmer, led a prospecting expedition to the Mandated Territory for the Equatorial Gold Exploration (New Guinea and New Britain) Syndicate.

After taking up gold-bearing areas on New Britain, and pegging out dredging claims on the Ramu River, the party re turned to Australia by the Macdhui on December 13.

The report submitted to his principals by Dr. Atcherley was very optimistic, and the syndicate decided to form a subsi diary concern to work the Ramu leases.

Subsequently, Ramu Gold Reefs N.L. was formed in Melbourne; the name, however, was later altered to Barola Gold Reefs N.L.

Barola Gold Reefs N.L. has a nominal capital of £7,500, in shares of £5 each. Of the 1500 shares, 690 fully paid were allotted to the Equatorial Syndicate. About £300 was also paid to the Syndicate for ex penses incurred in securing an option over Mr. E. R. Rowlands’ leases on the Ramu.

If Barola Gold Reefs decide to purchase the property after an option period of 12 months, Mr. Rowlands will receive £2000 in cash, and £6000 in fully paid shares. In the meantime he will get £300 cash and 10 per cent. of gold won during the option period.

Rev. S. Ray Rooney, a pioneer Metho dist missionary in the British Solomon Islands, died at Prospect, South Australia, on February 1, after a long illness. In 1903 he went to Roviana and served there until he was transferred in 1906 to Choi seul, Northern Solomon Islands, remaining there until he went to South Australia in 1913. The name of Rooney ranks high in the annals of the Methodist Mission Society, his father also having accom plished much pioneer mission work in New Britain, after serving for 15 years in the Fiji Group.