Fiji Gold

Reports of New Developments

FIJI gold shares continue to shed some of their lustre. The slump which set in in September has continued. The effect is seen in the share quotations, published on another page.

Three of the original enterprises promise well —Emperor, Loloma and Fiji Mining Corporation. The two latter have each struck very rich ore; and there is a con tinuation of high values in the Emperor mine. Aloha Central has also reported rich ore.

But, even if their high values continue, the mines must produce all the gold “in sight” in order to return to the public the high prices the public has paid for the shares. In other words, the real future of the field depends on whether the gold “lives down.” A number of diamond drills are at work now on the field, and we soon shall know if there is value at depth.

An interesting development during the month was the acceptance of an important option in Fiji over an area seven miles from Suva (130 miles from Tavua) by Mt.

Morgan Developments Ltd. This property is in the hills, in rough country, but there is speculation here regarding its exact loca tion. One interest believes it is “Cahill’s lease,” 100 acres, where assays have shown 150 oz. of silver and 1 oz. of gold to the ton. Another says it is Savura Creek, “which has given very good average assay values.”

Rich ore has been found on a lease about two miles north-east of the Emperor mine.

A powerhouse to supply the three leading mines—Emperor, Loloma and Koroere —is being erected.

Steps that have been taken by the Government to discourage speculation are reported elsewhere.