From New Guinea

Enterprise Of New Guinea

A LOSS of £7,677 was sustained by Enterprise of New Guinea Gold and Petroleum, Develop ment, N.L. for the year ended August 31 but current assets at that date exceeded outside liabili ties by 89,629.

The output of 9940 z. of gold bullion including 160 oz. won by tributers, was obtained from the alluvial properties, except for 740 z. recovered from the first clean-up of the Edie Creek cyanide plant. The hydraulic sluicing mine at Surprise Creek showed a small working profit. The reel mine at Edict Creek has been brought to the pro duction stage, and additional goldmining leases have been pegged along the strike of the main lode. Application was made for a licence over

seven square miles adjoining the Edie Mine lease boundaries to the north-west.

Petroleum search has been hampered by the Government’s refusal to grant prospecting rights over uncontrolled areas, but tne directors have offered to meet any reasonable conditions imposed in regard to entering the areas.

Production figures since August compare as follows: Aug. Sept.. Oct.

Wash dirt, yards 1,552 2,681 2,176 Overburden, yards 3,725 3,208 2,725 Unrefined retorted alluvial gold, oz. 89£ 68) 70) Edie mine cyanide plant production for October was 87oz. 6dwt. gold bullion from 500 tons of ore treated.

New Guinea Goldfields Ltd.

Mining Trust Ltd., consulting engineers to New Guinea Goldfields Ltd., advise that the slimes treatment plant at the Day Dawn 'nine has been purchased for incorporation in the Golden Ridges mill. Whilst this is being effected and the present plant and ropeway are being remodelled, the mill will shut down for about five months. It is anticipated that the tailings retreatment plant will continue operating during part of this period.

The last three yields are compared in the following table:

Sandy Creek Gold Sluicing Ltd.

The mine manager of Sandy Creek Gold Sluic ing Limited, New Guinea, reported early in Nov ember that production since July had been:

During October' operations were interfered with to some extent by heavy rains, causing flood conditions.

Sunshine Gold Development Ltd.

Sunshine Gold Development Ltd. advised in early November that owing* to the flooding of the paddock on October 13, the boxes were cleaned up for a return of 1420 z. of gold. As pumping operations were in progress, a further clean up was not anticipated during November.

Bulolo Gold Dredging Lid.

Production of the four dredges of the Bulolo Gold Dredging Ltd., for October, compare with that of the previous two periods as follows:

Guinea Gold, N.L.

Guinea Gold, N.L., has declared a dividend of 10£d a share, subject to any variation in the present rate of exchange between Vancouver and Sydney, payable on December 16. Transfer booxs close on December 7. Previous distribution made on June 14 was of a similar amount.

Bulolo Gold Deposits Ltd.

Production, etc. announced by Bulolo Gold Deposits Ltd., New Guinea, early in November was as follows:

Opening out operations were commenced on Morobe deposit area on September 16, and bottom has not yet been exposed. The manager stated that it would taka three months properly to open out and have the elevator working at full capa city.

Upper Sepik Gold Syndicate N.L.

An extraordinary general meeting in Melbourne of shareholders of Upper Sepik Gold Syndicate N.L. on' November 6 decided to place the Co. into voluntary liquidation. Five thousand shares in Eureka Central Gold N.L. (Victoria) will be dis tributed to shareholders on a pro rata basis, the distribution being approximately five Eureka Central shares for each two Upper Sepik shares held.

N.G.’S September Gold Exports

Gold exported from the Morobe Goldfield in September was 46,496 ounces valued at £A244,913, according to the last report of the Warden. This brought the total for the quarter above the half milMon mark. From the Sepik District (Wewak field), 1,764 ounces (£A14,979) were declared for export. (Continued on Next Page)

Morobe: Four Sept 1 weeks ended Sept 29 Oct 27 Hours 600 576 480 Cubic yard 7000 7000 6000 Gold, oz 160 130 140 Morobe deposit: Hours 600t Cubic yard — — 8000 Gold, oz — .— 65 fFrom September 16 to October 30.

Alluvial: July Aug.

Sept.

Fine gold oz 1174 1243 1288 Fine silver, oz 861 890 950 ( ; umen Anuses i»*m; Fine gold, oz 716 745 685 Fine silver, oz 701 639 734 Edie Creek Mill: Fine sold. oz. 1382 1267 1053 Silver, oz. 4027 3514 3134 Operating: Profit: Edie Creek mill £3974 £3341 £846 Alluvial £4924 £5168 £5533 Golden Ridges mill ... £1498 £1844 £1441

July Aug. Sept. Oct.

Cubic yards 14,560 14,139 16,619 17,992 Gold, oz. 308 185 351 360 Per cubic yd. — 3/2 1/11$ 3/2 37- Working cost — •— 1/6$ 1/6

Aug. Sept. Oct.

Cubic yard 901,000 893,600 899,600 Bullion, oz 18,420 18.310 15,999 Gold, fine oz 12,783 12,838 11.037

Value:

Aust. currency* fill,851 £112,332 £96.573 Per cubic yard 29.7 /30.1 /25.7 Working profit £72,108 £75,188 £70,280 *At £A8/15/- per fine ounce.

From Papua

Sapphire Ck. (Papua) Development

Syndicate

QIRECTORS of Sapphire Creek (Papua) Devel opment Syndicate N.L., following the failure of negotiations for the sale of Sapphire King Lease, Papua, have decided to abandon it. Diffi culties have arisen in connection with the secur ing of an exemption of the labour covenants and the Co’s local director has advised that the Co. would not be justified in making a call for the continuance of operations. The Go’s consultant endorses this view, and considers that prospects as revealed by development to date do not justify

com t )ai ‘ a^ve ly heavy expenditure that would be necessary to continue work on the lease's.' The directors, in arriving at their decision, were in huenced by the difficulties that in the past have accrued from the distance and isolation of the nroierty and consequent difficulty of control.

Yodda Goldfields Ltd.

The m anager in Papua of Yodda Coldfield3 Limited reported early in November that the yield for the month of October was 350 z. of gold,

Mandated Alluvials, N.L.

The mine manager of Mandated Alluvials N.L. (a new enterprise operating near Port Moresby, Papua), on October 17 reported as follows: — “No. 2 Adit has been driven a further 50 feet and connected with No. 3 winze. The

timbering of No. 3 Adit is now complete. Kails have been laid down to the old shaft section where ore is now being obtained by open cut method.

“Ore bins to take ore from both Nos. 2 and 3 Adits are under construction. The road from the main road to the mine has been completed and is in good order.

“Good progress is being made with construc tion of smelter. The smelter pins are finished.

Excavations for power plant almost completed.

The additional lease of 20 acres previously recommended has been applied for and granted.’

Cuthbert’S Misima Goldmine Ltd.

The mine manager of Cuthbert’s Misima Gold mine Limited, Eastern Papua, reported for the three months ended October as follows:

Aug. Sept. Oct.

Treated (tons) 2210 2414 2453 Bullion, oz 2536 2548 2597 Gold, fine oz 632 601 705 Silver, fine oz 1762 1802 1792 Est. Value, £A £5145 £4923 *£5729 Value a ton 46.7d 40.10d 46.9d *In addition £440 worth of gold slags and residues have been pi’oduced.