Islands Mining

Notes

From Fiji

Loloma (Fiji) Gold Mines N.L.

THE first clean-up of Loloma (Fiji) Gold Mines N.L. has been made at Tavua, for the month ended October 28. The yield, with plant absorp tion, was more'than an ounce a ton, which the directors consider very satisfactory.

The general manager reported the treatment of 1280 dry tons for the period, having a head value of 34dwt. a ton, with residues of ll.Sdwt. a ton, yielding 1228.80 z. fine gold and 5520 z. silver. The estimated plant absorption was 2240 z. gold. The absorption and high residues was due, the general manager reports, to the plant being on raw treatment for practically all the period.

During the period considerable mechanical ad justment was necessary to the plant, and continu ous running was not possible. The roaster gave a great deal of trouble, and alterations in the firing method were necessary. The use of crude oil in the roasting of raw ore is a new practice, and it will be some little time before the _opti mum conditions and roaster temperature and throughput will be obtained.

Mr. A. E. Paton (the Go’s consulting metal lurgist) with Mr. E. F. Baker (Major Furnace and Cbmbustion Engineering Co. Pty. Ltd.), who is an expert in oil firing, made the necessary adjustments to the roaster furnaces, and they have now returned to Australia.

Some of the doubts that have arisen lately about the value of Loloma shares will be dis

pel led by the above report. The head value of the ore treated was in exdess of cne estimated value of positive ore reserves. If this grade is maintained there appears to be at least three years of highly profitable work ahead of the Co. on the higher grade ore alone, based on the general manager’s estimate of reserves at July 31, and a mill output of 500 tons a week. Inves tors in Islands gold shares have had some ex perience in recent years of mines that, when production began, have failed to x’ealise expec tations. It the case of Loloma, when allowance is made for the eccentricities of a new plant, and the troubles attendant on the application of the new principle of crude oil firing to the roaster furnaces, the result of the first clean-up must be regarded as satisfactory.

Mt. Kasi Mines Ltd.

Production of Mt. Kasi Mines Ltd., Vanua Levu, Fiji, for the past four* months has been : Four weeks ended

Mineral Developments (Fiji) Ltd.

A loss of £3,395 is shown in the accounts ot Mineral Developments (Fiji) Ltd. for the year ended May 31. Current assets at the balance date showed a surplus over outside liabilities of £2,946, excluding contingent assets of £960. The directors report that during the year the Yanawai area in Fiji was abandoned. An area at Forest Reefs (N.S.W.) was diamond drilled.

Emperor Mines Ltd.

The general manager of Emperor Mines Ltd. advises that, notwithstanding a curtailed devel opment programme caused by concentration ot effort on construction of new milling plant and preparation of the mine for the supply of larger ore tonnage required for that plant, the ore reserve tonnage has been considerably increased since the last annual report. He estimates proved ore and prospective ore reserves at September 4 as: Proved, 444,600 tons oxidised ore, average assay value 6.Bdwt. a ton; 133,600 tons semi oxidised ore, average assay value S.ldwt. a ton. 255,100 tons sulphide ore, average assay value 10.9 dwt. a ton. Total proved ore, 833,300 tons. Prospec tive, 73,000 tons sulphide ore, probable grade of 10 dwt. a ton. Total proved and prospective 0re,906,300 tons. This represents an increase of 236,300 tons on the tonnage estimated in the last annual report. Regarding the prospective ore, the gen eral manager states that his estimate is a con servative one, as he has not projected ore much beyond the actual mine openings.

The Stock Exchange of Melbourne has granted official quotation to 35,100 fully paid shares of 10/- issued for cash under share option in the Company.

Since August production has been:

Tavua Gold Developments Ltd.

Tavua Gold Developments Ltd. incurred expen diture amounting to £9,816 in the year ended May 31, at which date cash on hand amounted to £3,383. Other current assets totalled £1,115, and there was a contingent asset of £251. Credi tors were owed £331. The directors report that they have abandoned their Fiji areas! and : negoti ations are proceeding for the acquisition of an area at Forest Reefs (N.S.W.), adjoining that intensively drilled by Mineral Developments. The directors consider that if the negotiations result in the acquisition of the property an excellent opportunity will be afforded of rehabilitating the affairs of the Company.

Aug 12 Sept 9 Oct 7 Nov 4 Ore, tons ... 2972 2712 2900 2524 Gold, fine oz. 554 553 616 593 Value, ,£A 4847 4839 5390 5189

Aug 7 Sep 4 Oct 2 Oct 30 Tons crushed 2,556 2,176 2,259 2.700 Head value, dwt 8.3 9.8 9.25 8.00 Yield, oz 951.4 963.1 948.7 949.9