From New Caledonia
p. 71 · Read in the full issue
Chrome Alluvials Ltd.
the granting by the Governor of New Caledonia of permission to export chrome, the options of Chrome Alluvials Ltd., in the French colony, will be exercised.
The directors report that the Co. obtained an option over three additional areas, covering ap proximately 1188 acres. For this further option, a payment of £l,OOO was made, and the vendors had applied and paid for 1000 preference shares.
Other than royalty, there was no further purchase consideration payable for these three ar*as.
An area of 362 acres adjoining had been applied for on behalf of the Co. Mr. A. M. Reid, who reported on the property, would design and secure the necessary plant (costing about £8,000), and supervise its installation and preliminary running.
In his report, Mr. Reid stated that the actual reserve of mine ore is 695,000 tons, ard of the alluvial ore, 472,000 tons. Probable ore closely approximated those quantities. It was proposed with the aid of three nozzles to treat mine ore only at present. Costs of production were estim ated at 38.744 d a ton. Deducting the cost of pro duction from the average value, the result showed a profit of 26.056 d a ton. Treating 600 tons a day, the profit should amount to £19.543 a year.
Consideration of gravel pumping the large re serve of alluvial material had been deferred pend ing the solving of the problem of large-scale treatment and concentration to standard quality.
Other mineral products of the Co. would be cobalt and sienna, the commercial value of which could not be estimated on the meagre data available at present.