From New Guinea

Irowat Gold Alluvials N.L.

A FFAIRS of Irowat Gold Alluvials N.L., New Guinea, were lengthily discussed at the adjourned annual meeting, held in Melbourne on March 22. Mr. C. Mackay (chairman of direc tors) read replies to questions submitted by a committee of shareholders appointed at the annual meeting, and dealing with the administration and operations of the company Mr. Mackay mentioned that the Co. owed Upper Watut Gold Alluvials N.L. £11,207. The want of success, he said, could be traced directly to the operations failing to confirm the quality of gold which the gx-ound was stated to contain in the original reports.

The dii'ectors had received demands thi-ough two firms of solicitors for money alleged to be owing to Mr. R. M. Brain (formerly construc tional engineer) and Mr. D. J. McClelland (the present consulting engineer and general super visor of the company). As the Co. was without funds it was evident that this action would place it in a most embarrassing position.

Mr. D. J. McClelland did not seek re-election as a director.

Sandy Creek Gold Sluicing Ltd.

Returns for Sandy Creek Gold Sluicing Ltd..

New Guinea, for January, February and Max*ch compare as follows: Jan. Feb. Mar.

Cubic yards 7,345 9,4?* 9,934 Gold, oz 139 219 262 Average, cub. yd 2/10 3/53 3/11*

Wewak Gold Estates N.L.

Outlining the position of Wewak Gold Estates N.L., in a circular to shareholders, the directors advise that Mr. J. Thurston, one of the vendors and a director, and Mr. M. P. Curtain, engineer, left for the Mandated Territory in December last year, taking with them a complete boring equip ment and accessories. Mr. Curtain is in charge of the field operations of the company, and has the guidance and assistance of Mr. Thurston, who is wox-king on his own claims neai'by.

Recent mail advices received from Mr. Curtain indicated that camp was established on the George Y. lease on the Humuku River. The top portion of this lease was suiweyed, and clearings made for the first line of bores. Boring was carried on concuri’ently with “boxing” by native labour. Two boxes ai’e being employed, and this vwork will not only give usefxil data as to values, but will, it is hoped, contxdbute towards the cost of the boring campaign.

Mr. Curtain reported that although disappoint ing results were obtained from the first few days’ work with the first box, it had since been located at another point, where he obtained ‘‘ex cellent prospects in the dish” in a nice looking wash. Bottom had not been reached when these prospects wei’e taken. Mr. Curtain emphasised that “boxing” can only be canned on successfully at certain selected points of the creek, where concentrations from the higher terrace ground occur. It was not anticipated that “boxing” could be carried out except at some such favour able locations, the main interest in the areas being to prove values for treatment by sluicing or dredging.

As regards the higher level wash, Mr. Curtain stated tlxat the camp is situated on a bed of wash 10 or 12 ft. above the flat w'here “boxing” will be carried on, and that some excellent pros pects can be obtained in many places on the terrace, which extends both up and down the

river from the camp. Boring will eventually prove the value of these beds.

Expenditure to date amounted to approximately £B4O. The proceeds of the application and allot ment money of 2/- a share amounted to £lOOO, and the balance in hand is £l6O. It is not expected that “boxing” will be sufficient to meet the full cost of the boring campaign. A call of 1/- a share was made on April 14.

Upper Watut Gold Alluvials N.L.

The first clean-up from No, 2 pontoon of Upper Watut Gold Alluvials N.L., New Guinea, gave a return of 88 oz. from 12,218 cubic yards treated, stated the management on April 5.

Prior advice had been received that some pre liminary work had to be carried otit before wash was reached.

The damage to the water race, caused by the recent heavy flood, was repaired, and operations were resumed on March 15.

Placer Development Ltd.

Placer Development Ltd., which has large hold ings i/i Bulolo Gold Dredging Limited, New Guinea, reports that Messrs. CTreen shields and Co., Montreal, Canada, have' exercised their option on 20,000 shares placed under offer to them in February at 20 dollars per share net.

The issued shares of Placer now total 730,000, of one dollar each.

Sunshine Gold Development Ltd.

Sunshine Gold Development Ltd., reports a clean-up for March for 2310 z. gold. The clean-up did not represent actual value of the ground broken down owing to a previous stoppage and consequent temporary flooding of the paddock.

Bulolo Gold Deposits Ltd.

The March clean-up of Bulolo Gold Deposits Ltd., was:—Bulolo Terraces, 84 ounces from 18,000 yards; Morobe area 71 ounces from 3800 yards. Construction of the water race and in stalling the elevating plant on the Morobe area is proceeding satisfactorily. Meantime, sluicing is being continued.

March production compares with other months as follows: December, 40,000 cubic yards treated for 80 oz. ; January, 37,000 cub. yds. for 120 oz. ; and February, 24,200 cub. yds. for 86 oz.

New Guinea Goldfields Ltd.

The report issued in March by New Guinea Goldfields Limited showed production during recent months as:— Dec. Jan. Feb.

Edie Creek Mill— Gold, oz., fine 860 1,435 1,552 Silver, oz., fine 2,462 3,067 2,972 Alluvial— Gold, oz., fine 645 714 900 Silver, oz.. fine 476 535 C 44 Gold Ridges Mill— Gold, oz., fine 1,132 1,643 1,127 Silver, oz., fine 908 1.176 821 Oj»erating Profit— Edie Creek 93 £4.333 £4,982 Alluvial £1,942 £2,732 £4,107 Golden Ridges £3,359 £8,562 £4,438

Enterprise Of N.G. Gold And

Petroleum Dev. N.L,

Early in April, Enterprise of New Guinea Gold and Petroleum Development N.L. reported that 4440 cubic yards, consisting of 2048 wash dirt and 2392 overburden, had yielded 460 z. 6dwts., during March.

Revenue received by the Co; for the three months to the end of February from mining was

£1932. Calls received totalled £2343 and interest £l6. Debtors paid £199. Expenditure was £5391.

Cash at end of term was £9232, aaginst £10,149 at the beginning. Debtors owed £503. Creditors were owed £1169.