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This newspaper page contains 7 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
May 10, 1968
Page
7
A weathered industry note reports Esso-BHP spudding new wells along the South Guppy sand coast of Victoria. The Tuna A-1 well is being drilled by the Glomar At Moating as of yesterday, with activity centered on the offshore field.
The report notes a reduced deficit for A G Healing compared with the prior year, reflecting cost controls and a new rig offshore. It cites after tax figures, dividend policy changes, and ongoing operations in the Otway Basin and South Australian coast, with details on drill results, asset values, and engineering activity affecting profitability.
Fairymead Sugar Co Ltd Bundaberg sugar producer lifts dividend to 4 percent after strong year with net profit rising to 579 837 from 256 838. Galland group linked Direct Acceptance Corp profits also climb, despite complex ownership and corporate movements.
Mount Isa Mines reports blister copper output for the four weeks to May 6 at 4 230 tons, with the year to June forecast at 160 tons, reflecting a drop from the prior two months due to mining difficulties and low grades. An exploratory well Bambilla Spudded May 1 reached 995 feet, affecting early year production.
Murphy brothers James William Thomas and Murphy are highlighted as multi millionaires after Murphyores stock surged in early trading. The prospectus shows large holdings in mineral sand mining plants across NSW and Queensland with valued stakes and interlinked investments.
Silver Valley Uranium Mines NL reports promising drill results near the Tulloch mine 27 miles northeast of Armidale NSW. Drill intercepts show high silver values with ounces per ton and rutile potential. Directors plan extended exploration, asset rehabilitation, and notes rising world demand for rutile as ore shipments target 63,000 tons in 1969.
The Commercial Bank of Australia Ltd said acceptances for its takeover bid of General Hatet Credits Holdings Ltd had been received totaling 4 608 314 shares, representing 75 per cent of shares under offer. The bid becomes unconditional as 75 per cent of ordinary shares are now held or committed.
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