Fiji’S Rich New Industry

Use of Australian Capital Offers New Trade Opening

THERE seems to be no doubt that a rich, new gold-mining industry has been established in Fiji, on the northern side of Viti Levu. Its birth, however, was at tended by so much mad speculation — particularly in Melbourne —that the actual value of the development has been under suspicion: many people thought that it was impossible that anything worth while could exist when so many rogues and near-rogues were active.

But the mines themselves have answer ed all doubts. Gold, assaying one to four ounces per ton, has been found in the Emperor mine—very valuable lodes indeed; while reports from the other mines, which cluster thickly around the Emperor (see attached locality plan), while not indicating such extraordinary values, go a long way towards justifying the dictum of Dr. Loftus Hills, that this field will prove to be as valuable as Kal goorlie.

Gambling to the point of lunacy has taken place in all Fiji mine shares; and, even acknowledging the remarkable rich ness of the lodes, many people still can not see there the extraordinary values that have been placed upon the field by the stock markets. The following figures, giving Melbourne buyers’ quotations for some of the principal Fiji gold-shares, will give some idea of what the markets have been doing in recent months:

A most interesting aspect of this de velopment of 1935 is that this Fiji gold industry, like the New Guinea gold in dustry, has been established by Australian initiative and enterprise and original Australian capital, with substantial over seas capital following the Australian lead.

If Australia can only seize the oppor tunity, the effect of all this must be a very substantial increase in the growth of trade with Fiji. Fiji is a large buyer of many things that Australia sells; but Australia has not prospered in this market in the past because Australia did not purchase Fijian products. But Australia, at present, is purchasing Fijian gold mines, in overwhelming measure, and thus there is being created an exchange posi tion which should help the sale of Aus tralian goods.

mid-July. mid-Aug. mid-Sept.

Aloha G.M. Co. .. b£S0 s£100 — Aloha Central s£16 b £26/10/- b£35 Emperor Co — b24/3 East Reefs b£5 b£16 b£ 16/10/- Fiji Corporation .. b37/6 b75/- b£6/15/- Fiji Gold bSO/- b80/- s70/- Goldmines of Fiji . b£5 b£13 £>£23 Koroere b22/3 b2S/6 b25/3 Loloma West b£4 b£3 b£S Nasivi Syndicate . b£5 b£14/10/- bl7/6 Viti Levu b70/- b60/- b40/-