Misima Gold
p. 10 · Read in the full issue
Cuthbert's Mine Resumes Production
ALTHOUGH the directors of Cuth bert’s Misima Goldmine Ltd., in Eastern Papua, tried to resume operations in .1947, they encountered the almost insuperable difficulties inherent in the Wardist regime—shortage of labour and absence of sea transport—and they won no gold. But by the end of Decem ber, they had managed to obtain 100 native labourers, and they now are run ning their rich goldmine on about 50 per cent, of pre-war operations. Share holders should get back into the money at the end of 1948, after a five years’ interregnum.
On the same island (Misima) Gold Mines of Papua have surprisingly re sumed operations, in the belief that they can get onto the Cuthbert lode, or some where near it. When the Mount Sisa Company got an injection of the powerful Pratten capital, and became GMOP, in the early thirties, the experts were con fident they were on the good lode, and GMOP 5/- shares went to 15/-. When they found they were on a dud, there was a collapse and shares fell to one penny, nominal. Now the shares are moving again—the latest quote is 6d.