Sudest Gold
p. 61 · Read in the full issue
Exploring Co. Formed
A COMPANY to exploit the gold on the large island of Sudest, Eastern Papua, was formed in Sydney at the end of September. It is called Louisiade Gold, N.L., and the syndicate at the back of it includes Messrs. George Brett, K, Craig, Roy Smith, and J. B. (Sam) Roche.
It is a company of £lO,OOO, divided intr 100,000 shares of 2/-. Some 40,000 of the shares were made available to the public and taken up within a few hours. The company will explore ground on Sudest which is reported to contain remarkably rich prospects, and will then merge into a big operating company, which is said to be all ready to take hold. It is under stood that the company also has some leases on Misima Island.
This development on Sudest completes the trio —important operations are now afoot on Misima, Woodlark, and Sudest: and if something really worthwhile, in the way of an established mining industry in Eastern Papua, does not come of it all, many hitherto sound prophets will be sadly confounded.