Mining Notes

Guinea Gold Dividend

On January 30, Guinea Gold, N.L., will pay a dividend of a share. At their half-yearly meeting held in Adelaide last month, shareholders were informed by the chairman, Mr. C. V. T.

Wells, that the directors expected to be this month in a position to declare a dividend of “about 6½d a share,” subject to any fluctuation in exchange rates.

In December last the company held 63,875 shares in Bulolo Gold Dredging, Ltd., the holding having then a market value of approximately £560,000.

That asset was to be augmented by 450 shares in Bulolo, representing the final balance of share consideration for Guinea Gold northern leases, making the aggregate ultimate holding of the company in Bulolo Gold 64,325 shares, which, the chairman said, would make Guinea Gold’s re serve account “in the neighborhood of £540,000.”

Tinai Abandoned

The syndicate which investigated the possibilities of the Tinai field (on the border between New Guinea and Papua) has abandoned the enterprise.

There was good gold found there, but it was discovered that the overburden of clay was too great to make profitable operations possible. Added to that factor was the heavy cost of transpor tation.

Leases On Ramu, N.G.

Representatives of the Equatorial Gold Explora tion (New Guinea and New Britain) Syndicate, Dr. J. R. Atcherley and Mr. Albert E. Palmer, have returned to Melbourne and reported upon the properties inspected by them.

They consider the interests secured for the com pany on the Ramu, New Guinea, outstanding.

The latter comprise three leases covering 3 miles, over which they obtained an option for six months.

Of these No. 321 is alleged by the leaseholders to have been well tested by them, and they showed 200oz. in their possession.

The syndicate states that its representatives took many dish prospects themselves, obtaining nothing less than 5/- a cubic yard, and in one place 20/- a cubic yard. Dish prospects taken by them upon the other two leases yielded from 5/to 6/- a cubic yard. They express great confidence in these leases, and that they alone will certainly more than justify the expedition.

While at the Ramu they entered into arrange ments respecting a lode from which the lease holder alleges he took over 400oz. in a few months, and also another dredging area from which their brief tests gave an average of 2/- a yard, and which two prospectors are now further testing on the company’s behalf. Gold values were calculated at £6/10/- an ounce.

N. Caledonian Dredging Syndicate

With a capital of £5000, in 500 shares of £10 each, Diahot River Gold Dredging Syndicate Ltd. was registered Sydney at the end of December.

The first directors are Messrs. M. B. Hamer, C. Vaughan, and G. Thompson. The company’s objects are to acquire from Mr. C. Vaughan all his options, rights, etc., and to acquire and undertake all his obligations to Golden Zone Prospecting Co. N.L., in relation to an area of 4445 hectares in New Caledonia.

Bulolo Dredge Production

Production of the four dredges of the Bulolo Gold Dredging Ltd. for December compares with that of the previous two periods as follows:

Day Dawn (N.G.) Ltd.

The mine manager reports that 840 tons of ore were crushed during December, yielding 542ozs. bullion. Value was £2500 (Australian). The company’s working expenses amounted to £1500 for December.

Misima Central Gold

A radiogram has been received by the manage ment of Misima Central Gold N.L. from Mr. A.

A. Hargrave, mining engineer and metallurgist, who went to Papua at the end of November, advising that he has inspected the company’s leases on Misima Island, Papua, and stating he is much impressed. He recommends further de velopment.

Guinea Territory Properties

Mr. H. F. Ralphs, representative of Guinea Ter ritory Options N.L. in the Mandated Territory of New Guinea, advises that both the alluvial and reef proportions he has inspected are of much promise. Particulars are expected at an early date.

To Report Upon Enterprise Of

N. Guinea Areas

Mr. W. F. McKenzie, hydraulic mining engineer, and his assistant, left Melbourne early in January for New Guinea, where he will inspect and report upon the extensive alluvial gold areas and the water rights acquired by Enterprise of New Guinea N.L. for the economical treatment of its auriferous deposits. He will also advise upon the best method of their utilisation.

N.G. Goldfields Ltd.

The following report for November has been issued by the Mining Trust Ltd., consulting en gineers for the company: Development.—Total development was 369 ft., in cluding Edie vein No. 2 rising for blocking out ore 130 ft. No. 4 shaft was sunk 34ft. to a total depth of 591 ft. Diamond drilling has been commenced and the first hole reached a depth of 188 ft.

Production. —Alluvial: Estimated profit for Octo ber from alluvial working was £7040. Production for November was 1162ozs. fine gold; 900ozs. fine silver. Mill: Estimated profit for October was £19,927. Production for November was 2571ozs. fine gold and 1157ozs. fine silver.

Power Transmission Line: The erection of poles has been completed.

Tiveri Gold Co.

With a nominal capital of £50,000 in 200,000 shares of 5/- each, Tiveri Gold Dredging Co. Ltd. was registered in Sydney in December. Directors are; J. W. Hinks, chairman, A. C. Clarke, T.

Nevitt, G. G. Smith, and T. L. Sefton. Registered office is at Port Moresby, Papua. Messrs. F. C.

Tracy and Co. Ltd., of Broughton House, 181 Clarence Street, Sydney, is the New South Wales agent of the company.

Tavua Options Ltd.

Australian gold-mining concerns continue to show considerable interest in the possibility of establishing a gold industry in Northern Fiji. A company called Tavua Options Ltd., of which Mr.

W. R. Carpenter is chairman, has taken up a number of 400-acre leases at Tavua, Northern

Oct. Nov. Dec.

Nos. 1, 2, 3, and 4 dredges— Cubic yards .. .. 863,000 835,800 881,400 Bullion, oz 16,122 15,557 14,919 Gold, fine, oz 11,200 10,742 10,986

Value—

Aust. currency* .. £95,200 £91,307 £93,381 Per cubic yard .. /26.47 /26.21 /2S.42 Working profit .. .. £67,830 £ 64,132 £66,104 * At £A8/10/- per fine ounce.

Fiji, alongside the area in which Mr. E. G. Theo dore is interested. There was a flutter on the Sydney Stock Exchange in mid-January when it was reported that the first assay made by Tavua Options Ltd. showed Bdwt. for the first three feet.

Mt. Lawson (N.G.) Properties To Be

Worked

Having considered the report of Mr. D. J.

McClelland on the Upper Watut River proper ties, New Guinea, the directors of Mount Lawson Prospecting and Option Syndicate, N.L., propose to proceed with the flotation, of a company to equip and work the properties. Estimates are being obtained for the installation of hydro electric power and treatment works, and when these are received a definite announcement will be made as to the proposals.