New Guinea Gold

Bulolo Dredge Production.

Production of the No. 1 and No. 2 dredges. the Bulolo Gold Dredging, Ltd., for December, compares with that of the previous periods as follows:

No. 1 dredge will be closed down for about 12 days in January to equip it with pontoons. No. 3 dredge is now working well, but in order to avoid encroaching on the aerodrome it has been dingging outside the dredging area. This dredge will shortly be turned towards the pay.

Four deep testholes on the upper half of the original Bulolo area show payable gravel to a depth of 75 feet, and the clay stratum at 22 feet to which the original yardage was calculated now appears to be a false bottom. The deep drilling is proceeding, and further equipment has been ordered to expedite this.

New Guinea Goldfields, Ltd.

The monthly returns of production and estimated profits of New Guinea Goldfields, Ltd., are as follows:—

Period ended Oct. 31. Nov. 30.

Dec. 31.

Cubic yards .. .. 448,100 400,200 410,800 Bullion, oz 12,218 10,202 10,076 Gold, fine, oz. 8,101 6,764 6,680

Value—

Aust. currency*.. £60,757 £50,730 £50,100 Per cubic yard .. 732.54 730.42 729.27 Working profit .. £A47,737 £A38,220 £A37,620 No. 3 Dredge— Cubic yards.. .. 82,000 141,000 Gold, fine, oz. .. 670 405 * At £A7/10/- per fine ounce.

Bullion, oz. — Oct.

Nov.

Dec.

Alluvial .. 1,971 . 1,857 . 2,412 Mill .. 1,294 . 1,833 . 1,900 Estimated profit— Sept.

Oct.

Nov.

Alluvial .. .. ..£6,539 . . £5,400 . . £4,816 Mill .. 9,566 . 7,280 . . 10,563