'Not Finished Yet'

Circumstances of Misima Close-Down Explained

THE circumstances surrounding the re turn to Sydney of European staff from Cuthberts Misima goldmine (Eastern Papua) were referred to in the June issue of PIM. Newspaper reports published in Sydney made it appear that, after the directors decided upon volun tary liquidation, the staff at Misima had been harshly treated.

We now have received the following statement from Mr. H. G. Carter, for mer chairman of Cuthbert’s Misima Goldmine, Ltd : I refer to the paragraph on Page 13 of your June issue regarding the cir cumstances surrounding the suspension of operations at Cuthbert’s Misima Gold mine.

The directors have purposely refrained from entering into a newspaper con troversy.

Before leaving Misima, every employee was paid four weeks’ wages by the Liqui dator, and their return steamer fares from Samarai to Sydney were prepaid by the Government on the Company’s account, inclusive of all employees who had been with us for a few months only.

Sales of stores, etc., are being made by the Liquidator to provide funds to pay off creditors, including balances due to the employees for holiday leave, etc.

The Liquidator has advised that food was available, and that none of the Europeans concerned lived on the charity of the natives, or were compelled to eat native foods and roots. Further more, there was no “winch handle’ in cident, as was reported in other press statements: and, if reports from Samarai are to be believed, there was no indi cation of any shortage of money while they were awaiting the Malaita to take them South.

The decision made to suspend opera tions was a painful one, but was neces sary when shareholders did not provide the additional capital to carry on opera tions. The property is still an excellent one and the failure to continue profit able operations was caused through the heavy post-war cost of rehabilitation, shortage of labour, and the limited finances to drive through to the pre war class of ore. It can be regarded as another war tragedy in the Territory of Papua.

Every effort is being made to interest a mining group in the property, as the directors are all of the opinion that the mine is not finished yet.