From Papua

Mandated Alluvials N.L.

jyiINING operations of Mandated Alluvials, N.L., near Port Moresby, Papua, have recently been enlarged by the extension of adits, drives and winzes. This work is expected to facilitate the supply of ore at a rapid rate.

Directors report that the whole of the plant and machinery have now been delivered, and that erection is proceeding. The last shipment, com prising all units of the power plant, consisting of a 150 h.p. Yarrow boiler, a 50 h.p. Robey engine. 40 k.w. generator, 24 h.p. motor, Tangye 3-throw ram pump, 10,000 gallon tank, and com plete electrical equipment, were shipped by the November Macdhui together with the first con signment of over 100 tons of metallurgical coke.

In the year ended July 31, the Co. spent £7,200 on one mine development account. Pre liminary charges absorbed £2,400.

Sapphire Creek (Papua) Syndicate

At the half-yearly meeting of Sapphire Creek (Papua) Development Syndicate N.L., at the end of November, the chairman (Mr. R. E. Tracey) told shareholders that the Sapphire King lease in Papua had been abandoned and that considera tion was being given by the directors to the ques tion of taking up a silver-lead property in Tas mania.

Cuthbert’S Misima Goldmine Ltd.

Cuthbert’s Misima Goldmine Ltd., Eastern Papua, on November 26 declared an interim di vidend (the 7th) of 6d a share, payable December 17. The previous distribution, of 6d a share, was made on September 24. In view of the irre

gular steamer service between Misima Is. and Samarai, and the restriction to a period not ex ceeding 30 days a year for the closing of the share registers, the directors have decided in fut ure to pay dividends half-yearly instead of quar terly, as at present.

November production, as compared with Sep tember and October, was:

Gold Mines Of Papua Ltd.

Gold Mines of/Papua Ltd. (one of the “Pratten Group”), which holds 286 acres in 14 mining leases on Misima Island, Eastern Papua, expects to have a modern 20-head battery and a complete sand and slime cyaniding plant in operation early in the coming year. The Co. has proved the existence of 250,000 tons of mainly oxidised ore, worth 46/-> per ton at the mill-head,'- and 150,000 tons sulphide ore, of lesser value; and it plans to put through 3,000 tons per month, for an estimated annual profit of £36,000.

The Co. has an issued capital of about £105,000.

Its 5/- shares are quoted at around 10/-, and have been up, in the past year to 17/-. On the, disclosed figures, the shares are worth at le«*st 15/-. These are careful, conservative people, however ; the mine is on the same line of country as Cuthbert’s money-spinner; the estimates of ore proved and in sight are more notable for what they do not say than for what they do say -—and, generally, it is probable that the share holders who get in eg,rly will find themselves on a good thing.

They deserve it. Many weary years have pas sed since a little Sydney group joined Genera!

Bertie Lloyd in Misima Options Ltd; and some of the faithful were in a syndicate that even preceded that. Their judgment was sound the gold was there —but the place was haunted by wild cats, word-jugglers, and practised wasters of capital. Developments have proceeded sou i dly since the Pratten interests came in, but with dreadful slowness; the plant should have been in operation months ago. It is cruel country, how ever, with a pleasant habit, in the night-time after a rainy day, of sliding away into an abyss.

Sept. Oct. Nov.

Treated, tons 2,414 2,453 2.640 Bullion, oz. 2,548 2,597 2,475 Gold, fine oz 601 705 759 Silver, fine oz 1,802 1,792 1,477 Estimated value £A £4,923 £5,729* £6.142 Per ton of ore - 40/10 46/9 46/7 *In addition, £440 worth of gold slags and residues shipped for realisation.