Pacific Islands Mining

Shares A Good Gamble

FOR those who like a gold-mining gamble the Sydney Stock Exchange at present offers a unique opportunity. Consider these quotations of New Guinea, Papua and Fiji gold shares, taken from “Svdnev Morning Herald” of the dates stated

Placer and Guinea Gold are mostly holding com panies with very substantial assets in NG mines.

The Japanese war came in December, and New Guinea and Papua goldmining operations ceased in January, when all personnel was withdrawn. Natur ally, all share values declined.

If and when the companies resume operations thev soon will return to profit-making. The gamble is: When will the miners get back into the Territories'?

And when they go back, will they find their valuable installations intact?

So far as is known now, the onlv important gold mmmg property destroyed are the Bulolo Gold Dredg- Company ’ s three big transport planes—worth over £2so.ooo—which were caught on the ground by Jap bombers. There may be damage also to the company’s dredges and power-houses; but the company has enor mous reserves, and it is so well-managed that it could be back in profitable production within a few months.

Cuthbert’s Mine at Misima looks an especially good gamble. Misima is outside the enemy zone, at present and the mine is of the type that will not deteriorate through water. And the Fiji shares are worth to-day much of what they were worth in November, to anv good optimist. y

April 16, Nov. 15, 1942 1941 Bulolo (New Guinea) . 22/- 93/- Cuthbert’s (Papua) 3/3 13/7 Guinea Gold (Australia) . 4/- 10/6 Loloma (Fiji) .. . 12/3 21/10 Mt. Kasi (Fiji) .. .. 9d. 2/1 NG Goldfields (New Guinea) 8d. 1/6 Placer (Australia) 32/6 62/9 Sandy Creek (New Guinea) 6d. 1/3 Sunshine (New Guinea) .. 2/6 9/-