From Papua

Lakekamu Goldfields

THE whole of the saleable plant of Lakekamu * Goldfields (Papua) Development, N.L. (in voluntary liquidation) has been realised on, and the amount available for distribution to share

holders is equal to 3/4 per share on the 3000 issued shares of £5 each. The loss entailed by the realisation was £1235. Expenditure for the period ended April 30, including liquidation ex penses £l4O, was £478, and this, with previous losses of £11,878 and £9OB preliminary expenses written off, raises the total loss to £14,500. Cash for distribution is £5OO.

Cuthbert’S Misima Output

Although Cuthbert’s Misima Gold Mine Ltd., Papua, treated a decreased tonnage of ore in May, compared with that for April, there was an appreciable improvement in the production of gold. The value a ton of ore rose by 11/8, to 49/1. Production figures:

Cuthbert’s Misima Gold Mine Ltd., is installing a second 10-head stamper battery, and the enlar ging plant designed to treat at the rate of 40,000 tons per annum is now expected to be completed at the end of the month.

The new 180 h.p. Ruston and Hornsby crude oil engine on a trial run worked most satisfactor ily. The vibrating screen also proved satisfactory.

Stronger wire screens have now reached the mine to give greater efficiency in this unit.

Dominion Gold Ltd.

Dominion Gold Ltd. reports that Messrs. T. R.

Victor and F. M. Murdoch having completed their examination of the mine at Laloki, Port Moresby, over which the company has an option, have reported that they accept the statement of the previous owner, the New Guinea Copper Co., that 450-000 tons ore had been developed, assaying 4.5 per cent to 5 per cent copper and 2dwt. gold, of which about 50,000 to 70,000 tons had been smelted. The methods and cost of reopening the mine are being considered.

Samarai

Published on May 29Road to G.L, 5 made, and all plant dismantled; at G.L. 5 a pit 35ft. x 25ft x sft excavated for barge, and ramp made for unloading of plant. Two trucks are at work shifting the plant, and much already transported to new site; plant) will be installed, and sluicing commenced by end of June.

Sapphire Creek

It is reported (May 22) that the staff and mining leases of Papua Development Syndicate N.L., Sapphire Creek, Astrolabe Mining Field have been paid off and the company, it is understood, intend no further operations on the field.

Mar. Apr. May Ore treated, tons ., 1,800 2,066 1,900 Bullion, oz. 2,747 2,085 2.433 Gold, fine oz 540 473 570 Silver, fine oz 2,114 .1,529 1,768 Estimated value: (gold at £8 an oz.) £4,430 £3,869 £4,662 Value a ton of ore 49/3 37/5 49/1