New Mine Venture For
p. 117 · Read in the full issue
Woodlark Is.
Old Islands mining men will be interested in a plan to resume mining on Woodlark Island, east of Papua, on a lode that was operated on first i it' 1900 and has not been worked since 1915.
Prospectus is out in Sydney for Wood lark Island (Papua) Gold, Ltd., offering 360,000 shares at 2/6 (par). The vendor of the leases, plant and equipment is to receive 200,000 paid-up shares and £17,500 in cash and, after the sale, he will invest £5,000 in 2/6 shares. It is calculated that the treatment each week of 500 tons of ore and 200 tons of sands, will give a yearly profit of £81,358. Life of the mine is estimated at 12 years.
Directors are Messrs. R. Eginton, J. J.
Johnston, H. J. Morrison, and N. H.
Bowers.
Mr. Willie P. Browne’s famous motor jalopy—the one that en circles the island on “movie nights” with drums crashing and cymbals jangling to announce to all and sundry the “bill-of-fare” at Mr.
Browne’s theatre—was involved in an accident in October. Near the western end of the airstrip, at Nikao, when a fault developed in the steer ing, the truck left the road, crashed into the fence. A passenger, Ngakau Tom, was thrown to the ground and was severely injured.