Solomons Gold

English Group Finances Guadalcanal Project

FOLLOWING an unsuccessful attempt by Solomon Islands Gold Develop ment N.L. to launch a £50,000 company in Australia, to carry out sluicing opera tions on their Guadalcanal leases in 8.5.1., a large English mining group has financed the project.

At the end of August, Guadalcanal Sluicing and Dredging Co. Ltd. was registered in Melbourne with a nominal capital of £200,000 in 5/- shares the whole of which was underwritten by the English syndicate. Directors of the new concern are Messrs. J. W. Russell, F. A.

Rich, and J. F. Beacham.

The property, which has been pur chased by Guada canal Sluicing and Dredging Co., is on the central Sorvohio River and comprises 1,500 acres esti mated to contain 20 million yards of material. The vendor company—S.l. Gold Development N.L. has done a fair amount of preliminary work there, with results which are reported by Messrs.

Ault and Thomas, mining engineers, to be most satisfactory. The new company will thoroughly test the area by pitting.