Precautions Against

“Wild Cats”

REPORTS from Suva, published.during

the month in the Australian news papers, indicate that the Governor of Fiji is making vigorous war tipon the “wild cats” of the new Fiji mining industry.

Good hunting!

It is a pity that other Islands admini strations\do not act similarly. There are quite a, £ew of the undesirable felines prowling about at present in New Guinea and Papua, but no one even troubles to throw a coconut at them.

The Fiji Government, on September 7, announced that a statement had been published in the press regarding the al-

leged activities within the colony of a company styled the Nasivi (Fiji) Syndicate N.L.; “The published statement mentions an alleged discovered gold field, Rakiraki, and says the field was inspected by the Fiji Mining Board, and is expected shortly to be proclaimed a gold area; also that a company will be granted prospecting licenses over a large portion, and a ten tative reservation has been granted the company covering about 7000 acres. It is further stated that a director visited the field at the end of July, and on his re turn to Australia advised the board to form a larger company to take over the whole of the syndicate’s interests. It is stated the shareholders will have the ex clusive right to apply on a basis to be determined for the whole contributing issue. The share market reacted imme diately to the new development m the middle of August.

“The Government of Fiji (proceeds the official announcement) considers it ex pedient to make the following comments: —‘The Mining Board has not visited any area in the neighbourhood of Rakiraki, and on the information at present before it the Government does not propose to proclaim a mining area in the Rakiraki district. The Government up to the pre sent is unable to see its way to grant any prospecting licences in the Rakiraki district, and the Nasivi (Fiji) Syndicate N.L. has received no tentative reservation or other concession from the Govern ment.’ ” .

On September 9, the Melbourne Stock Exchange Committee removed the names of Nasivi (Fiji) Gold, and a ‘ pup company, Raki Raki (Fiji) Gold Syndicate, N.L., from the official list.

The ambitious reports of Nasivi Syndicate, a Melbourne concern, were published' in Australia in August (and were summarised in the P.I-M. or August); and on those reports the £5 shares (paid to £2) o£ the Syndicate were quoted as high as £42. Aftei the Fiji Government’s statement, the shares were sold under panic conditions.

Later reports indicated that the Syn dicate’s directors had been gravely misled by someone.

The Totola Syndicate

A little later, in mid-September, an other concern came under fire.

Totola gSyhdicate, on August 13, an nounced that it had “closed with an option on a property situated in Viti Levu, comprising 500 acres of new auriferous ground. For the purpose of prospecting

and developmental work, the reserve shares will now be issued preferentially,” etc. Then there followed some details of mining operations.

The latter details (nine lines), as it proved, had nothing to do with Totola.

They had been supplied to the newspapers by another company, and added to the Totola report in error.

This paragraph was published in our August issue. On September 13 the Fiji Government announced: “The Government considers it expedient to make the following comments: (a) Totola Syndicate Limited is not regis tered in the Colony and, in consequence, is unable to hold any licence or lease under the provisions of the Mining Ordi nance, 1934. (b) No application has been received from Totola Syndicate Limited for a prospecting licence, (c) No con cessions of any description have been granted to Totola Syndicate Limited by the Government, (d) The Government has no knowledge of the mining opera tions referred to in the statement.”

It then transpired that the details of mining operations contained in the report did not refer to the Totola Syndicate at all —they had been included in error—and, therefore, (d) of the Fiji Government’s statement was not justified. As for the remainder ( (a), (b) and (c) ), the chair man of Totola Syndicate Limited (Mr.

F. F. Munro, of 117 Pitt Street, Sydney) made the following statement: A prospecting licence had definitely been granted, but was not in the com pany’s name. It was in the name of three private people, who had granted the company a free option over a property situated at Nativi, for two months, with the right of extension for a further four months on the payment of £lOO. If the option should be exercised at the end of either two months or six months, the option agreement provided, he said, for the payment to the vendors of £5,000 cash and 10 per cent, in shares of the nominal capital of any company formed to work the option, as consideration. Mr.

Munro added that developmental work was being carried out under the direction of Dr. Guy Harris, and two parties of natives, each under a European, were working on the option.

Locality plan of part of the Tavua Goldfield, Fiji, showing the approximate position of the first dia mond drill bore on the field, sunk by Tavua Gold Developments, N.L. The bore has cut lode show ing 2 to 8 dwt. at an inclined depth of 177ft. or a vertical depth of 120ft. The light, wavy lines show the position of the lodes.