Early Installation

Deep-Digging Dredges

For Bulolo

BULiOLO Gold Dredging Ltd. is to pro ceed immediately with the installation of two deep-digging dredges. Shareholders at the annual meeting in Vancouver in November were informed by Mr. C. A.

Banks, managing director, that with six dredges, including the present four, in operation, earnings should be materially, though not necessarily proportionately, increased.

Mr. Banks said that the first of the new dredges would dredge to 80ft. below water level, and carry a bank of 40ft., thus giving a total digging depth of 120 ft. The second would dig to about 115 ft., and carry a bank of 50ft., making a total possible digging depth of about 165 ft. The cost would be met by the sale of up to 60,000 reserved shares to private purchasers, in small lots at about market price, as funds were required.

These new dredges will recover the gold from the second, or lower, bottom, dis covered under the present dredging area two years ago. The four existing dredges take gold only from the upper level, and cannot reach down to the second bottom.

On the Bulolo River, and about six miles from the upper end of the company’s holdings, Mr. Banks said, an additional area had been tested and acquired, and from this and several small contiguous areas being negotiated for, about 10 million yards of 25 cent gravel might be reason ably expected. For the five months to November 1, 4,748,000 cubic yards had been dredged for a recovery of 54,223 ounces fine gold.

Mr. and Mrs. J. Sutton arrived in Syd ney from Papua by the Montoro on November 7. After serving for many years as Head Gaoler at Port Moresby, Mr. Sutton is on long leave prior to re tiring from the Papuan Public Service.

During his absence from the territory, Mr. D. J. Mahon is relieving at Port Moresby gaol.