New Guinea Gold

£840,000 Produced In Morobe By Two Companies In 1933

have been supplied from an unofficial source with figures showing the production of gold on the Morobe gold field by the two major companies during the year ended 31st December, 1933.

During that period the Bulolo Gold Dredging Company, according to its monthly reports published in the “Sydney Morning Herald,” treated 5,880,000 cubic yards, from which it recovered 136,000 ozs. of bullion gold, which was worth in Australian currency £683,000. According to the company’s own figures this gold gave a profit for the year of £501,000 (Australian).

New Guinea Goldfields, Ltd., during the same period, produced 27,000 ozs. of allu vial bullion and 15,000 ozs. of milled bul lion —the former of which was worth in Australian currency £74,000 and the lat ter £83,000, or a total of £157,000 for the year.

This gave a production for the year, from the two companies alone, of £846,000.

It is probable that during the current year the Bulolo Company will show a,n even better return, as it will have all its four dredges in full operation. But even on the figures for 1933 an unofficial esti mate shows that that Company is making an average profit of 1/8 per cubic yard.