From New Guinea

Enterprise Of New Guinea

A DDRESSING shareholders at the annual meet ing of Enterprise of New Guinea Gold and Petroleum N.L., in Melbourne on November 24, the chairman (Mr. Edward Ward) said although directors were disappointed that the Co. had not secured the oil leases for which it had made ap plication in New Guinea, efforts would be con tinued to that end. The leases sought were in an “uncontrolled” area and permits had not yet been granted by the Administrator. Mr. Ward said he was sure that no favouritism was being given to other oil companies, because no' permits had been issued in “uncontrolled” areas. He had no idea when the Administrator would be in a position to make the areas available.

The general manager in New Guinea (Mr. H.

Taylour), who was present, said he considered the Edie Creek mine had promising prospects. It was difficult to estimate its tonnage at present, but he considered that prospects merited the installation of machinery. The mine was a low grade proposition. Values should range from 5 to 6dwts. a ton and milling and treatment and treatment costs should total about 25/- a ton. The vein system on the mine was strong and at depth veins were cut that were not ex pected, indicating that values should live down.

The Surprise Creek mine was an alluvial pro position, but it had difficulties on account of its isolation. It should show a profit on capital invested. Transport and labour, especially skilled labour, were drawbacks to New Guinea gold min ing, Mr. Taylour added.

Accounts of Enterprise for the year ended August 31, showed that expenditure of the Co. exceeded income by £7,677. Current assets ex ceeded outside liabilities by £9629.The Co.’s gold output during the year was 9940z5.

Enterprise’s November report stated:—Produc tion unrefined retorted alluvial gold from all sources: 83oz. 12dwt. from 2,837 cubic yards wash dirt and 4,426 cubic yards overburden. Edie mina cyanide plant production for month; 120 oz. 19dwt. gold bullion from 553 tons.

N.G. Goldfields Ltd.

The Mining Trust Ltd., consultihg engineers for New Guinea Goldfields Ltd., issued the follow ing report on behalf of N.G.G. on November 29:

Bulolo Gold Deposits Ltd.

Bulolo Gold Deposits Ltd. reports that abnormal rains caused a flood in the Little Wau Creek and on November 18 the boxes and gold on the Morobe Alluvials area were washed out. The damage has been repaired and sluicing was re commenced on November 23, but because of the time lost during repairs there will be no clean up until just before Christmas.

Bulolo Gold Dredging Ltd.

Production of the four dredges of Bulolo Gold Dredging Ltd. for November compares with that of the previous two periods as follows:

Sandy Creek Gold Sluicing Ltd.

The mine manager reported on December 4 that November production compared with the three previous months as follows:

Sunshine Gold Development Ltd.

Production of Sunshine Gold Development Ltd., for the quarter ended November 30, was:

A net profit of £14,124 was earned by Sun shine Gold Development Ltd., New Guinea, for the 14 months ended September 30. A first di vidend of 6d. a share absorbed £5,000, and £1,318 was written off formation expenses and brokerage leaving £7,805 to be carried forward.

During the period 261,472 cubic yds. were sluiced for a recovery of 4,409 gross oz,, which realised £27,058 net after paying royalties, trans port, smelting, and other charges,- The directors state that the principal difficulties in the way of continuous operations of plant have been over come, and regular dividends are expected.

Sluicing operations have borne out generally the values determined by boring where such tested areas were treated. A diversion from the original layout was made, thereby increasing the sluicing areas. By taking in this ground, the value of the gravels actually sluiced during the period were below the average estimated value of the whole property, but, nevertheless, were profitable. As this extended area has now been treated it will be possible to sluice the old bed of the river, containing gravels of higher values, which should bring the average up to the esti mated for the whole.

The working cost has varied ; but for the three months to May 31, when, during a continuous run of 1761 hours, 78,256 cubic yards were

treated, sluicing and overall combined cost of lOd per cubic yd. was obtained. It is anticipated that, with a clear run, this cost will be main tained and in all probability reduced. The balance of 32 acres of the Widubosh D.C. 63 claim was acquired, which consolidates the prin cipal working claims and extends the total sur face area to about 300 acres.

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Aug. Sept. Oct. Nov.

Cubic yards 14,139 16,619 17,992 19,981 Gold, oz. 185 351 360 271 Per cubic yd. 1/11* 3/2 3/- 2/0* Working cost ... — 1/6* 1/6 1/5

Cub. yd.

Hours Gold(oz.) September 17.500 496 303.25 October 9,000 (est.) 350 141.76 November 24,000 435 416 Total 50,500 1281 861 Previous quarter 76,644 1569 856.9

Aug.

Sept.

Oct.

Edie Creek mill: Gold, oz. fine 1.267 1.053 1.014 Silver, oz. fine 3.514 3,134 3,185 Alluvial: Gold, fine oz . 1.243 1,288 1,321 Silver, oz. fine 890 950 961 Gold Ridges mill: Gold, oz. fine ... 745 685 483 Silver, oz. fine 639 734 536 Operating profit: Edie Creek £3,341 £846 £1,090 Alluvial 5,168 5,533 6,002 Golden Ridges 1,844 1,441 2,394

Sept.

Oct.

Nov.

Cubic yards 893.600 899.600 751,100 Bullion, oz 18.310 15,999 12.573 Cold, fine oz 12.838 11,037 8.703

Value:

Aust. currency* £112,332 £96,573 £76,151 Per cubic yard /30.1 /25.7 Working profit £75.188 £70.280 £60,068 *At £A8/15/- per fine ounce.

November treatment included about 70.000 cubic yards tailings.

Chrome Alluvials Ltd.

OHROME production by Chrome Alluvials Ltd. is expected to commence in New Caledonia shortly, according to a message from Noumea, fearly in December. Progress with the erection of the water race has been rapid, and the engineer in charge expected the race to be finished by December 15.

Further details of the engineer’s report were as follow: ‘‘Concentrating Plant.—Bendelai now firmly set on cement ready for operation ; neces sary feed boxes and launders under construction ; also classifier vibrator screen being set on cemdnt foundation. Wharf .—Timber cutting and delivery continues. General.—Have no doubt of successful treatment by process introduced; profit of opera tions , will be large.”

In a report dated November 22, he states that fluming and by-washes were being placed in position. Race cutting exposed a body of nickel ore and a body of cobalt. It is not yet possible to estimate values. Little work remained to be done on the construction of the dam.