Misima Gold
p. 16 · Read in the full issue
G.M.O.P. Prospects Improve Further
A REPORT issued by Gold Mines of Papua Ltd. to their shareholders late in March, showing excellent progress being made in the development of their leases on the island of Misima (Eastern Papua), and an improvement in pros pects regarding ore bodies, sent the shares of the company “jumping.”
The 5/- shares, early in April, touched 17/-, and the shares of the new issue (3/paid) were around 15/-. There is every indication that, with this and other com panies coming to production alongside Mr. F. W. Cuthbert’s famous “money spinner” on Misima, a solid gold-mining industry has been at last established in Papua.
The G.M.O.P. report is published in our mining columns.
Mr. James Burns, chairman of direc tors of Messrs. Burns, Philp & Co. Ltd., sailed for London aboard the Comorin early in April. He will supervise the construction of five new motor ships for the inter-islands trade in the South Seas.