Pacific Islands Mining Notes

From Fiji

Mount Kasi Mines Ltd.

A FTER writing £1767 off development account, Mount Kasi Mines Ltd., Fiji, shows a loss of £2,795 (Fijian currency) for 1936, which, with the loss of £3,311 for the previous period, in creases the debit balance to £6,106. The plant treated 14,137 tons for a recovery of 4024 fine oz. gold, equal to 5.69 dwt per ton, which compares with 4.93 dwt for 1935. The net idealisation was £28,810.

The directors write that the reconstruction of the plant was not completed in time materially to benefit the year’s operations, and there was no production during December owing to repairs to the former plant. Since production was re sumed on January 6 last, operations have been almost continuous. Tonnages this year have been greater, and costs have been reduced by more than £1 per ton. They expect that, with still larger tonnages the cost per ton will be still further reduced. Ore reserves are estimated at 110,000 tons of a grade of 5 to 6 dwt, against 6.4 dwt stated estimated previously.

At December 31 the Co. had cash £1960, sundry debtors £5B, stores £3063, and sundry creditors £4OlB. Development account stood at £lB 358.

Mr. D. W. Robertson (chairman) at the annual meeting on July 29. after outlining the difficulties experienced by the Company during the past 12 months, said that a substantial profit had been made during the period from January 1 to Julv 15. 1937, and intimated that the major trouble at the mine had now been overcome under the management of Mr. A. J. Peterson.

The shortage of native labour, Mr. Robertson said, had been a serious problem, and had made it impossible for the Company to carry out the developmental work desired. He said that the Co. had much improved its financial position, and with the continuance of recent results it should not be long before shareholders received a dividend.

Production since April has been:

Emperor Mines Ltd.

Holders of options over certain shares in Em peror Mines Ltd. have agreed to assist the com pany to finance the completion of the new treat ment plant on the property at Tavua (Fiji), by subscribing for a proportion of the shares before the due date, March 18. The option over 52,450 shares, fully paid to 10/- a share, has therefore been exercised, and the shares have been issued.

The company reports that values have been recently revealed further easterly than hitherto.

The proving of these values gives promise of disclosing new developments.

Recent production figures compare as under:

Four weeks ended.

May 20 June 17 July 15 Auty. 12 Ore, tons 2.566 2.408 2,556 2 972 Gold, fine oz. — 576 597 628 554 Value f£A) ... 5.040 5,223 5.495 4,847

May 15 June 12 July 10 Aur. 8 Tons, crushed 2.025 2,236 2,333 2,550 Head value, dwt. 10.0 9.8 9.4 8.3 Fine gold, oz. 933 951.3 953.7 951.4 Dwt. per ton — 7.9 8.5 8.1 7.46