In New Guinea

New Territory (N.G.) N.L.

A satisfactory option has been obtained by the representative of New Territory (New Guinea) N.L. in New Guinea, of over 1000 acres of dredg ing land in the Wewak district, New Guinea. Ar rangements have been made for a drilling engineer to test the property by boring.

Barola Gold Reefs N.L.

The mine manager of Barola Gold Reefs N.L. re ports from Salamaua that he has obtained native labour and equipment. He is beginning the opening up and testing of the gold-bearing lode on the lease held under option at Ramu, New Guinea, from the surface of which lode the company’s re presentatives, prior to obtaining the option, ob tained a sample which on analysis in Melbourne showed a value of 2oz. 3dwt. a ton.

Equatorial Gold Syndicate’S Option

Over Sulphur Deposits

Equatorial Gold Exploration (New Guinea and New Britain) Syndicate N.L., has obtained a favourable option over a sulphur deposit on Lolo bau Island, in the Mandated Territory of New Guinea. The lease, the management reports, covers an extinct crater, and comprises 122½ acres at 3000 feet above sea level, and it is within two miles of perfect deep-water anchorage. Samples ana lysed in Melbourne for the company showed the quality to be excellent, averaging 97.41 pure sul phur. without any silenium, and only a trace of arsenic, averaging 0.0017. The company’s repre sentatives who inspected the property reported that the quantity appears extensive, and arrangements are being undertaken to determine authoritatively the amount available. Should the latter prove ex tensive the acquisition of the lease would be valu able, as the Australian consumption of sulphur amounts to about 70,000 tons per annum, and at present is imported from foreign countries. The price is about £5/5/- a ton.

Waria River Property

A strong financial group in Melbourne is investi gating a property on the Waria River in the Morobe district of New Guinea, with a view to a floatation. The property which is held by a Ger man syndicate, embraces a particularly large low grade hydraulic sluicing proposition.

Madang Gold Syndicate

Madang Gold Syndicate N.L. has received a message from New Guinea stating that the com

pany’s representative arrived at Madang and has now left for the interior. His intention is to investigate areas known to the company and believed to contain high gold and platinum values.

It is understood that he will complete the first part of his journey by launch.

Golden Terraces (N.G.) N.L.

An option has been obtained by Golden Terraces (New Guinea) N.L. over an adjoining property of approximately 30 acres. Mr. A. F. H. Davis left for New Guinea by the Neptuna on April 20 to complete arrangements for taking over the area.

Day Dawn (N.G.) Ltd.

For two months ended April 30, Day Dawn (New Guinea) Ltd., crushed 1196 tons of ore for a yield of 725oz. of bullion. Developments since the report issued in February have in all cases proved values unpayable. The reef recently discovered on Snake Creek reported as 3oz, silver 3ft. wide has cut out, as the body was not in place.

Ramu Gold Syndicate

The representative of Ramu (New Guinea) Gold Syndicate N.L. has cabled the legal manager (Mr.

L. E. Stringer, of Melbourne), that Mr. J. M.

Spence is proceeding with the testing of the area under option to the syndicate. Mr. Spence has been held up owing to floods, but results to date are satisfactory.

Mt. Lawson Syndicate’S Dredging

Claim

Mt. Lawson Prospecting and Option Syndicate N.L. has obtained an option over an amalgamated dredging claim in New Guinea known as the Irowat, comprising the dredging claims No. 295, known as Iroa, Half Circle and Pretty Valley.

The area contains approximately 250 acres. Test ing for values will be commenced immediately, under the supervision of Messrs. Spence and Smith, mining engineers, New Guinea.

Sunshine Gold Development Ltd.

The first shipment of pipes and material for jet elevators will be made by Sunshine Gold De velopment Ltd., in June and the balance in July.

The general manager reports that good progress has been made with the construction of the race, and the directors have tentatively fixed October 14 as the date when production might commence on the Consolidated claims.

Day Dawn South Directorate

At an extraordinary meeting of Day Dawn South (New Guinea) N.L., on April 30, held for the pur pose of electing two directors in the place of Messrs. C. H. Willmott and W. G. Digby, who had resigned, Messrs. W. H. Chappie and E. D.

Aboud were appointed to the board. These direc tors will hold office until the annual meeting, which is to be held shortly, when a motion for confirma tion will be submitted.

Sheba Mining Options Ltd.

Sheba Mining Options, Ltd., with a nominal capital of £20,000, in shares of £1 each, has been registered in Canberra, to take over certain rights and liabilities from Sheba Options, no lia bility, and to carry out mining in New Guinea and elsewhere. Signatories: H. B. Jamieson, J. M.

Ryan, S. W. Griffith, S, G. Hyde, T. A. Billerwell, Y. R. Andrew, and S. H. Carroll.

Upper Watut Alluvials’ Hydro

Electric Power Scheme

The final survey for the hydro-electric power scheme to be installed by Upper Watut Gold Alluvials N.L. on the Big Slate Creek, New Guinea, has been completed. The company’s sur veyor has arrived in Melbourne with the field information. Plans for the offtake weir, race line, forebay, pressure pipe line and power house are in course of preparation to the designs of the managing director, Mr. D. J. McClelland. It is expected that a commencement will be made with construction work in about six weeks.

Watut Options N.L.

At the preliminary meeting of shareholders m Watut Options N.L. the chairman (Mr. J. W.

Patchett) announced that satisfactory reports had been received from the solicitor (Mr. A. H. Davis), who is at present at Wau, New Guinea, completing the options, on behalf of the company. Options have been completed to acquire rights over two dredging and sluicing areas on the Lower and Upper Watut Rivers, Morobe district, New Guinea, consisting of approximately eleven miles of coun try. Preliminary investigation of the properties by the company’s engineer indicates good values.

Arrangements have been made with Mr. J. M.

Spence, mining engineer, to report on the areas.

Messrs. J. W. Patchett, R. B. Anderson, and A.

R. Dodson were appointed directors. The legal manager is Mr. H. S. Archdall, Temple-court, Collins Street, Melbourne.

New Morobe Gold N.L. Formed

Directors of New Territory (New Guinea) N.L. and Morobe (New Guinea) Gold Options N.L. have agreed to amalgamate and to form a new company, to be known as New Morobe Gold N.L. to take over the assets and liabilities of the two com panies. Nominal capital will be £30,000 in 30,000 shares of £1 each, of which 10,000 shares, fully paid to £1, are to be issued to shareholders of New Territory (New Guinea) N.L. in the pro portion of ten £1 shares for each one £10 share held, 14,000 shares, fully paid to £1, are to be issued to shareholders of Morobe (New Guinea) Gold Options N.L., in the proportion of twenty £1 shares for each one £10 share held, and 6000 shares are to be held in reserve.

The interests of both companies are more or less synonymous. Definite options have been obtained over properties in New Guinea known as the Ornapinka and Wewak. Regarding the Ornapinka option, the company’s representative has reported by radiogram received recently:— “Testing engineer Ornapinka completed 20 pits on lower flats for 2/7 a yard, based on gold at £4 an oz. Weights rechecked by me.’’ Drilling equipment has been sent for testing the Wewak area of 1000 acres, over which an option has been secured for twelve months. Calls in both com panies have been made in order that all shares should be fully paid up and to provide ample funds to test existing options, and for the ac quisition of further properties which are under consideration. The directors are Messrs. E. A.

Wisdom, W. H. Smith, T. R. Victor, R. Blake more, and A. D. Douglas. The legal manager is Mr. R. W. Stringer, 422 Collins Street, Mel bourne, Victoria.

Enterprise Of N. Guinea

Having purchased an hydraulic sluicing plant in New Guinea, recommended by Mr. W. F. McKen zie, hydraulic engineer, Enterprise of New Guinea N.L. will install and put it into operation imme diately on the area on the Upper Watut, recom mended by Mr. McKenzie.

Shareholders of the company at an extraordinary meeting at the end of April decided to divide the capital of £22,500, in 2250 shares of £10 each, to 22,500 shares of £1 each.

At the annual meeting the chairman of direc tors Mr. E. Ward said additional capital would be required in the near future, and it was pro posed to offer shareholders a fair proportion of the reserve shares. At present a credit balance of £5200 was in hand. The original objects of the company were to obtain certain areas under the extended mining ordinance. Unfortunately, the ordinance was not dealt with by the Government at the time expected, and had to be deferred from time to time, until in January the Government passed it. Even then it had to be gazetted and the signature of the authorities obtained before proclamation.

The company had taken up some 5000 acres of country, portion being for sluicing purposes, and 3500 acres for lode mining. The Oriabanda areas were regarded as the best obtained to date. The company’s prospector, Mr. W. Cash, intended starting sluicing on the areas, and when opera tions were in full swing it was expected that sufficient gold would be won to meet the expenses of prospecting the reef areas. Regarding the Surprise Creek areas, it was estimated they could

be equipped for £3500. The policy would be to initiate a plan of progress on blocks 11, 12, and 13 of the Surprise Creek areas, also on the Oria banda property, and to prospect the larger area above Surprise Creek, which showed indications of being a valuable property for lode development.

In addition, an important work would be to acquire areas under the new ordinance.

The meeting favoured a proposal that the num ber of directors should be increased from three to five, and that the remuneration of each member of the board be £100 a year. Mr. Donald Reid, of Melbourne, has accepted a seat on the board of directors.

Oriomo Explorations Ltd.

An extraordinary meeting of shareholders of Oriomo Explorations Ltd. in Sydney during April decided to increase the capital from £24,000 to £100,000 by the creation of an additional 304,000 shares of 5/- each. The issue is to be made whenever it may appear to the directors to be warranted. Adressing shareholders, Mr. E. L.

Walters said that a six-months’ option had been obtained on favourable terms of an area of 140 acres of terraces, gravels, and alluvial flats on both sides of the Bulolo River, New Guinea, for about 62 chains. Nine pits completed on the terraces disclosed an average value of 70d a cubic yd., with gold at £6 an oz sterling, average depth being 33ft. Preliminary information was to the effect that there were valuable terraces from which gold of a high quality was being re covered to a depth of 4 feet. Mr. S. N. McLean had investigated the areas, and would endeavour to obtain improved terms from the vendors.

Oriomo Oil Ltd.

The directors of Oriomo Oil Ltd., in a circular

to shareholders, state that by reason of its share holding the company is entitled to apply for 41,520 shares of 5/- each at par in the new issue in Oriomo Explorations Ltd. They have decided to give shareholders the right to apply direct for one share in the new issue for every four shares held in Oriomo Oil Ltd.

Bulolo Dredge Production

Production of the four dredges of the Bulolo Gold Dredging Ltd. for April compares with that of the previous two periods as follows;

Feb- Mar. April.

Nos. 1, 2, 3, and 4 Dredges— Cubic yards 820,000 919,000 892,000 Bullion, oz 14,417 16,601 15,357 Gold, fine oz 10,022 11,521 10,540

Value-

Aust. currency .. *£85,187 t£102,248 t£93,542 per cubic yard ... /24.94 /26.70 /25.17 Working profit £58,318 £73,529 £65,257 * At £A8/10/- per fine ounce, t At £A8/17/6 per fine ounce.