Optimistic Report On Misima Goldfield

Misima Goldfield

An independent geologist reported in July that Papua’s Misima goldfield was the most important and promising mineral deposit known to him in Australasia.

'HE report of the geologist, Mr.

Frank G. Forman, of Perth, was ade available at the annual meeting Pacific Island Mines Ltd., in Syd y on July 31. Mr. Foreman had en sent to the field to study old :ords of pre-war operations on isima, and to assess exposures made iring recent developments by Pacific and Mines.

A fortune in gold was taken out of isima before the war, but opera ins closed down in 1941, because the war, and only in recent years is Pacific Island Mines, a newly rmed company, been proceeding th explorations. New Guinea ople with knowledge of the early ining days have always said that isima could make more fortunes le day.

Chairman G. W. Noe reported to e annual meeting that the pro amme of exploration of the Umuna id subsidiary lodes on Misima, hich had been going on since De mber, 1959, was completed only on ily 20. The full results of assays ere not yet known, but “the results ceived so far are most promising”.

The company, said the chairman, now had nearly exhausted the sub scribed funds; but an Australian in vestor, Mr. John G, Fuller, of Syd ney, had provided the company with an interest-free loan of £lO,OOO (which he could convert into shares at par) on condition that he received an option over a further 322,000 2/6d shares at par.

Interest of New Group Mr. Fuller had joined the board, and it now was proposed to finance major exploration and development through an association with “one of the large overseas mining groups”.

The chairman said that Mr. Fuller, before committing himself to Misima, had sent Mr. Forman to the field at his own expense.

It was also reported that the com pany is severely handicapped in its operations at Misima by lack of com munications. The Catalina flying-boat service to Deboyne lagoon (30 miles away) is not satisfactory, and the Administration again will be asked

to provide an air-strip.

New View

Of Suva

Air pollution from Fiji's cement factory Lami, Suva, is a controversial issue in [?]e Suva area. This cent photograph, ken by the Fiji [?]blic Relations oflfice, illustrates the Feet. Immediately love the factory is [?]robaba Peak, a vourite haunt of [?]imbers and bush alkers.

Photo: Rob Wright.