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The ring around the head should be red, denoting “filled shell”
The “LIM” stencilled on the band denotes the projectile is limited as to the charge that it may be fired with
The “SYD” is a bit confusing as it is the Station Monogram for Sydney and/or New South Wales (except Albury) , it’s not a Filling monogram. The only shell filling facility in Australia in 1940 was Ordnance Factory, Maribyrnong – “M.O” which is Melbourne, Victoria.
Looks like flash filled prac. with red band on nose & using an actual fuze. Black body paint & light coloured band (could be yellow) denotes prac. proj.
Great pic, thanks.
Regards Ozzi.
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