Solomons Gold

Company's Plan Revised

TTHE plans of Solomon Islands Gold * Sluicing Ltd. are being reconsidered, in the light of three facts—namely, that the flotation attempted in February and March last was not favourably received by the public, and has had to be with drawn; that there is difference of opinion among engineers as to the practicability of the proposed mechanical method of handling the gold-bearing material, es pecially the boulders; and that there is little doubt that the .Berande field (on Guadalcanal, in the Solomons) is a rich field, with solid and consistent values.

The reason for the failure of the flota tion is not clear. An attractive prospec tus, carrying the names of first-class men as directors, was lavishly advertised; but the investing public did not “bite.” It seems to have been just the wrong time to have presented a gold company. The directors withdrew the prospectus in May.

Meanwhile, Mr. T. R. Victor, the well known mining engineer, has visited the Solomons, to inspect some mining pro position in which Australian Gold Development N.L. (a Melbourne com pany, of which Brig.-General Wisdom is a director) was interested. Mr. Victor condemned the proposition. While he was in the Solomons, he looked over the Ber ande proposition, and reported on same to the directors of Solomon Islands Gold Sluicing Ltd. The report has not been published; but we have been informed that Mr. Victor took a favourable view of the gold-bearing character of the leases, but was not impressed with the mechanical side of the company’s plans.

We are assured that, despite the set back, the company has no intention of abandoning the enterprise —it merely will revise its plans.