Property

Powerful Australian Mining Co.

To Investigate Edie Ck.

A PROMINENT Melbourne mining engineer, Mr. T. R. Victor, who is actively connected with several Fiji gold syndicates, will leave Sydney this month by the Montoro to inspect an area at Edie Creek, New Guinea, on behalf of Aus tralian Gold Development Co., a powerful Victorian mining syndicate.

Rising prices for A.G.D. shares on the Melbourne stock exchange give belief to the rumour that Mr. Victor’s report "will influence the big company to enter the New Guinea field. The property in which A.G.D. is interested is known as Kelal, and is situated at Edie Creek. At present the area is held under option by Golden Ter races (New Guinea) Syndicate, N.L.

Messrs. Spence and Smith, mining engineers, of Wau, have already reported favourably upon the area, which hitherto has been unexploited. Should Mr. Victors investigations confirm the opinion already held that Kelal is extremely valuable, a company to work the property will be formed by Golden Terraces, and in which Australian Gold Development will have substantial share rights and interests.

Mr. Victor has recently been associated with several successful new flotations, and immediately the market learned that he is to investigate new properties, share prices of companies with which he is connected became the centre of interest.