NGG Await Permission to Resume
p. 24 · Read in the full issue
Resume in N. Guinea
“TjWERY effort is being made to ex £j pedite a resumption of operations,” say the directors of New Guinea Goldfields, Ltd., in their latest annual report. “Some time must necessarily elapse before supplies can be obtained and shipped.”
This large company (its issued capital is £950,371) has been suspended since January, 1942. Its properties in New Guinea are valued at about £870,000; and it has about £150,000 available in cash, wherewith to finance the resumption of operations—if and when permitted.
The directors are Messrs. J. Kruttsch nitt, C. W. Alexander, N. L. Cowper, E.
W. McDermott D. P. Mitchell and Earl Castle Stewart. The concern is owned partly in London and partly in New York, but there are many individual shareholders in Australia.