FIJI GOLD MINING

Taranaki Daily News, 7 September 1935, Page 7

FIJI GOLD MINING

FIELD AT RAKIRAKI NO CONCESSION GIVEN GOVERNMENT STATEMENT ■■ \ COMMENT ON PRESS STORY By Telegraph—Press Assn.—Copyright. Rec. 10.30 p.m. Suva, Sept.’ 6. A Government Gazette announces that it has come to the notice of the Government that a statement has been pub-, lished in the Press—reported to be the Pacific Islands Monthly—regarding alleged activities within the colony of a company styled the Nasivi Fiji Syndicate (no liability). The statement mentions a newly-dis-covered goldfield at Rakiraki and contains the following: “The field has been inspected by the Fiji Mining Board ana it is expected it will shortly be proclaimed a gold area and that the company will be granted prospecting licenses over a large portion. A tentative reservation has been granted the company covering about 7000 acres. A director, Mr. G. M. Hume, visited the field at the end of July and on his return to Australia he advised the board to form a larger company to take over the whole of the syndicate’s interests. Shareholders will receive a fully-paid share interest and will have an exclusive right to apply on a basis to be determined for the whole contributing issue. The sharemarket reacted immediately to the new development in mid-August. Shares of £5 (£2 paid) were quoted on the Melbourne Stock Exchange at £42.” The Fiji Government considers it expedient to make the following comments: The Mining Board did not visit any area in the neighbourhood of Rakiraki and on the information at present before it the Government does not propose to proclaim a mining area in the Rakiraki district. The Government hitherto has been unable to see its way to grant any prospecting licenses for the Rakiraki dis- , trict. The Nasivi Fiji Syndicate (no liability) received no tentative reservation or other concession from the Government.