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Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jul 31, 1964
Page
2
The Federal Director of the Associated Chambers of Manufacturers, R W C Anderson, criticized government limits on copper scrap. He argued that licensing and export bans tighten supply, raising costs and harming industry while copper remains scarce and prices rise.
In the South District northwest of Cobar plans were discussed for a multiyear base metal drilling program by Planet prospecting. The scheme involves a joint venture with a subsidiary and a 1968 agreement term. A high cost geophysical exploration program is proposed over three years, potentially building up zinc prospects and electrolytic prospects amid shifting agency to oversee operations.
Gas flows from Cecil Park No. 1 at 200000 cubic feet daily as Associated Group tests reveal progress in the Sydney Basin. The report lists multiple wells with depths and test results, noting one well reached 4394 feet with no immediate test results, while others are at various drilling stages. R.M.C. considers board changes with E R Griffin joining Ready Mixed Concrete Ltd. and director resignations affecting takeover votes.
Speedo Holdings Ltd reports a record consolidated pretax profit of 82 350 pounds for the year, with sales the highest in the company’s history and plans to finance a new factory expansion. North Shore Gas declares a higher ordinary dividend of 3.45 percent, up from 3.1 percent, due to rising long term bond rates. Austiphone Moldings of Australia Ltd announces a 3 percent shareholding by businessmen, acquisition of Souski Constructions Pty. Ltd. for 50 000, and related drilling and well expansion activities in Australia and New Zealand.
On the Sydney Stock Exchange the All Ords edged 0.47 higher to 374.44 amid a lack of a clear market direction. Drug houses shifted amid declines in Ready Mixed Concrete while several industrials near unchanged. Trading featured uneven moves with no definitive trend as the close approached.
The market shows scattered activity in stock options and oil shares with Interstate Oil and associated firms reporting minor gains and mixed dispositions. Transactions reference Frome Frame Broken and Mobil, with fractional price shifts and unclear trading volumes across Australian and U.S. listings.
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