Goldfields Ltd.
p. 64 · Read in the full issue
Operations Of N. Guinea
AFTER having inspected his Company’s operations near Wau and Edie Creek, New Guinea, Mr. J. Kruttschnitt, chairman of directors of the New Guinea Goldfields Ltd., said an enlarged water race was approaching completion at Wau to take 50 cubic feet a second. Work had been going on for four or five months. The race would be used for the alluvial section, and should be cap able of sluicing 150,000 cubic yards a month. There was an area of 10,000,000 cubic yards to be worked. Another pro ject had just been completed on the Bulolo River for working an alluvial de posit in the Bulolo River Valley.
Other reports indicate that this Com pany is about to derive benefits from a considerable amount of developmental work during the year, at. Golden Ridges and in the alluvial section. The 5/shares, which were selling at 1/3 a few months ago, are steadily appreciating in value.