Commercial News In Brief

Press, Volume CX, Issue 32350, 16 July 1970, Page 16

Commercial News In Brief

Southern Concrete

Southern Concrete Masonry Ltd, reported that percussion drilling at its mineral claims in the Coolgardie areas of Western Australia had revealed nickel values of up to 2.2 per cent. The directors describe the results as "significant and encouraging.” Beach 30c Call Beach Petroleum NL, sale of forfeited contributing shares scheduled for July 16 has been postponed. The shares will now be sold in the vestibule of the Adelaide Stock exchange on August 6, unless redeemed by the payment of the 30-cent call.

Fibre Containers

Fibre Containers, Ltd. is lifting its interim dividend from 7j to 8 per cent. Profits for the six months to April 30 increased approximately 17 per cent. Sales showed a similar increase. Substantial capital expenditure took place In the half year. The new container plant at Chullora in New South Wales is expected to commence operations shortly. Tryal Rocks No. 1 Ampol Exploration, Ltd, report that favourable progress is being made by Wapet, in overcoming poor hole conditions on the offshore well,

Tryal Rocks No. i. Drilling operations should be resumed towards the end of 'this week Two contract seismic crews are continuing work in the Canning Basin, approximately 100 miles south of Fitzroy Crossing. Pilbara Steelworks Mr Lang Hancock, the discoverer of Mount Tom Price at Hamersley, is in London this week. There arq reputed to be some delicate negotiations going on with the American Steel Corporation concerning a £3som steelworks at Pilbara, in Western Australia.