Fiji’S New Gold
p. 13 · Read in the full issue
Value of Emperor Mine
IT is possible, now, to measure the progress of the Fiji gold industry by something more tangible than company flotations and the flamboyant quotations of the share markets.
For the six months ended June 30 the gold exported from Fiji totalled 1805oz. sdwt., valued at £14,262, in Fijian cur rency. For the whole of last year the total export amounted to 1003oz., valued at £7590. Besides this, since June 30, a shipment from the Mount Kasi mine of 230oz. has come to Suva. This represented the first clean-up from the new plant.
The flotation of the Emperor mine (Tavua, Northern Viti Levu), and the amazing values placed on the property, are described elsewhere. Mr. T. R. Vic tor, in a recent statement, said that the Emperor was a difficult lode to sum up.
Some people classed it as a volcanic plug, others as a large hydrothermal spring, which, he considered, was very near the mark. Definite north and south shearing, extending for 1300 ft., was known. The lode had been proved for a length of over 1000 ft.; the greatest width was 400 ft., reaching the limits of values on either side. No quartz was present, the ore consisting of andesite, felsite, kaolin and other highly siliceous material.
It is this belief—that the Emperor is a “volcanic plug”—which has caused so much controversy about the value of the Tavua field. There are many people, still, who believe that severe disappoint ment awaits those who have invested heavily in the Tavua properties wmich are not part of the Emperor.
A London group, acting through E. L. and C. Baillieu, the Melbourne share brokers, has become interested in Loloma. on the Tavua field, Fiji (says “Sydney Bulletin” of August 7). A new company, Loloma (Fiji) Gold Mines, N.L., has been formed with a nominal capital of £225,000 in 5/- shares, of which London will take 150,000, called to 1/6, at a premium of 18/6 each, and will be entitled to appoint one director to the board. Each con trib. in the old company will be exchanged for two contribs. in the new company, credited as paid to 1/6 each; fully-paids will also be exchanged one for two. The idea is to provide capital for further development and for the installation of a treatment plant. The property, which is still in the development stage, has yielded some exceptionally high assays to shallow depths over good widths.
For other references to Fiji mining developments, see “Mining Notes.”