Emperor Mine

To Purchase Rich

£1,000,000 Co. Formed In Melbourne

AFLUTTER was caused on the Mel bourne stock exchange at the end of July when it was announced that Emperor Mines Ltd. had been registered with a nominal capital of £1,000,000 in 10/- shares to negotiate for the purchase of all shares in Emperor Gold Mining Co.

Ltd., which is at present operating the famous Emperor mine at Tavua, Fiji.

Principal shareholders in the operating company are Messrs. E. G. Theodore, P.

F. Cody, J. Wren and F. Packer.

Details of the new flotation are meagre, but it is understood that shareholders of

Australian Gold Development, N.L., which was associated with the Loloma and Koroere companies, have participating share rights. It appears that Emperor Mines Ltd. may be treated as a holding company only, the operating company still being kept in existence.

A figure in excess of £500,000 in cash and shares has been mentioned as the purchase price of the mine. Against this, the value of gold in sight down to a level of 100 feet has been estimated at £1,000,000. If the negotiations are suc cessful, Emperor Mines Ltd. probably will erect a bigger plant and mill to carry out operations on a larger scale and at a greater depth.

Situated on the northern slope of Koroere Hill, the Emperor mine is al ready equipped with an up-to-date mill, but of somewhat limited capacity. About 2,000 tons of ore are being treated a month and crushings to date have aver aged more than 1 oz. of bullion a ton, the bullion being about 850 parts fine.

A tunnel has been driven into the side of the hill about 1,000 ft. along the line of lode, which has been proved by 13 crosscuts to be almost 150 ft. wide, with satisfactory values all the way.

The directors of Emperor Mines Ltd., whose qualifications are 500 shares in the company, include Mr. Wallace H.

Smith and Mr. Haddon A. Smith. The secretary is Mr. L. B. Tomlins, of 360 Collins Street, Melbourne.