Gold Deposits
pp. 23-24 · Read in the full issue
N.G.G. Ltd. Buy Out Bulolo Gold Deposits
NEW Guinea Goldfields, Limited have bought the whole of the leases, water rights, and plant of Bulolo Gold Deposits, Ltd., in the Morobe District, T.N.G., for £21,500 cash.
In a circular to shareholders, the dir ectors of Bulolo Gold Deposits explained that the accounts for the year ended June 30 show a loss of £1,250. Further capital expenditure was necessary to complete race extensions and pipe line to allow for working the Morobe Alluvials property on a larger and more profitable scale, and, in addition, considerable money would have to be spent in repairing the exist ing race. The company’s financial posi tion did not permit of this expenditure.
Bulolo Gold Deposits, Ltd.’s capital is £41,784 in shares of 2/- each.
Mr. N. Proud, accountant for Enter prise of New Guinea Gold and Petroleum N.L., is now in Melbourne on three months’ leave.
Mr. W. C. Harley, newly appointed Chief Judge of Western Samoa, and Mrs. Har ley, arrived in Apia by the “Maui Pom are” from Wellington, N.Z., in Septem ber.
Mr. F. I’A. Ryan, of the Fiji Govern ment Tourist Bureau, arrived in New Zea land for a holiday by the “Port Jackson”
during September.
Mr. C. M. Tremewan, of the Apia Ob servatory staff, Western Samoa, was mar ried on September 15 at Apia Church of England to Miss E. D. Barratt, of New Zealand.
Mr. C. N. Perry, store manager of the B.N.G. Trading Co., Port Moresby, Papua, accompanied by his wife and daughter, arrived in Sydney by the “Montoro” in September, for a holiday.
Mrs. C. Tucker, of the Seventh Day Adventists mission at Aore, Santo, New Hebrides, returned to the Condominium by the September “Pierre Loti” after two months in Sydney, where she received medical attention.
Mr. Kenneth Shorter arrived in Sydney from Misima Island, Papua, by the Sep tember “Macdhui”. He is employed by Cuthbert’s Misima Goldmine Co., and will spend three months’ furlough in Sydney.