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Freddy Paxton and Jack Young fly their aeroplanes from Queensland to Billabong, wowing everyone who sees them. They are there to help mine the gold, as only trusted friends are in the know. But word gets out, and a couple of casual shearers steal the gold that is ready to go to the bank, using one of the planes for their getaway, and kidnapping young Bill along with them. Bill uses all his resources to outwit them and escape, rescues the `Christmas pudding¿ and makes friends with a lively little old lady on whose farm he has landed.