Islands Mining

News

From Fiji.

Emperor Mines, Ltd.

EMPEROR MINES, LTD., Tavua, Fiji, re ported on January 7 that all sections of the new plant are now operating. The Co. is experiencing some trouble through wet oil in the crushing section after the heavy rain. The through-put is approximately 300 tons daily.

The message referred to the new treatment plant only; in addition the original pilot treatment plant is operating full time. The new plant is being run in and it is expected that the through-put will now gradually increase to full capacity.

“Until the new plant has been in full opera tion for a month or two it would be unwise to forecast the date of commencing payment of dividends, but shareholders can be assured that the board will deal with this question as early as expedient”, said the chairman (Mr. Wallace H. Smith) at the annual meeting of Emperor Mines, Ltd., in Melbourne in mid-December.

Running costs of the pilot mill at the mine for the last 12 months, including mining, mill ing, general expenses, and development redemp tion, were 22/ (Fijian currency) a ton. Mr.

Smith said. It was expected, however, that by means of open cutting on a large scale and with much greater tonnages a considerable re duction in working costs would be obtained. Over the last two years ore reserves had increased more than fourfold. They were now sufficient for some six years’ milling at the maximum ca pacity of the new mill. The latest estimate gave them 906,300 tons, with a gold content of £3,046,408. The increased tonnage during the year was 236,300 tons, and the increase in value £366,408. It would therefore appear that at present showing the gold content of the ore mining, including development redemption, local reserves, after allowing for estimated costs of taxation, etc., was equal to approximately 23/ a share, providing the price of gold remained stable. This estimate, Mr. Smith said, did not take into account the Regent lode, which may prove a valuable addition to ore reserves. On this lode a drive south off the adit had been extended in sulphide ore for a distance of 316 ft., in values averaging 16 dwt. a ton for the full distance. As exploration proceeded on the main Emperor ore bodies, the directors were confident that reserves would be considerably augmented with each ICO ft. of sinking.

Production, recently, has been:—

Loloma (Fiji) Gold Mines N.L.

From the treatment of 1,700 tons of ore at its mine at Tavua goldfield, Loloma (Fiji) Gold Mines N.L., in its third clean-up, produc ed 1,999 oz. fine gold and 755 oz. fine silver.

This represents an increase in gold recovery from 21.13 dwt. a ton to 23.53 dwt. a ton on the previous return. Recent reports that the roaster section of the treatment plant was work ing satisfactorily, following initial difficulties with the oil-fired furnaces, are borne out by a substantial reduction from 8.1 dwt. a ton to 3.4 dwt., a ton in the assay value of the tailings.

Designed capacity of 500 tons a week has not yet been attained. The management states that the wooden elevator frame is being replaced with a steel frame. It is hoped that an improved throughput will result.

Results of the clean-up are compared here under with those of the first two periods since production commenced; —

“With continuity of treatment and the main tenance of the expected extraction from now on, I see no reason why the first dividend should not be declared before Easter of 1938, and there after at regular intervals”, said the chairman (Mr. P. F. Cody) at the annual meeting of Lo loma (Fiji) Gold Mines N.L., Melbourne, on De cember 15.

Since July, driving had been carried out at the 224 ft. level, Mr. Cody said. With the ex ception of a section in the south drive from 59 ft. to 192 ft., which had averaged 8 dwt. a ton, and from 228 ft. to 240 ft., which had aver aged IV 2 dwt., results here and in the north drive had not been spectacular. The downward continuation of the values in the south drive in the 120 ft. level could be expected when the face in the 224 ft. level had been extended ap proximately a further 50 ft. Work would be proceeded with at the 224 ft. level as rapidly as possible. Connections would be made by winzes and rises with the 120 ft. level. It was also intended, when the stope timbering ad vanced. to resume work in the south drive.

The treatment plant was running satisfactor ily, and it was approaching designed capacity of 500 tons a week. With greater efficiency in the use of the various units the directors were confident that extractions of 95 per cent, or more would be reached. No further trouble was expected with the oil-firing arrangements on the roaster. Owing to the favourable na

Four weeks ended Oct. Oct. Nov. Dec. 2nd. 30th. 27th. 25th.

Ore treated, tons 2,259 2,700 2,600 2,400 Head, value, dwt. 9.25 8 8.3 8.8 Gold, oz., fine . 948.7 949.9 952 951 It is expected that the first clean-up from the new treatment plant will take place on January 29.

♦Oct. 28 tNov. 24 Dec. 22 Ore treated, tons 1,280 1,580 1,700 Gold, fine, oz. . . 1,228.8 1,669 1,999 Recovery, dwt. a ton 19.19 21.13 23.53 Silver, fine oz. ... 552 757 755 Tailings, assay, dwt. 11.3 8.1 3.4 ♦On raw treatment; plant absorption est. 224 oz. gold. lOn raw treatment 75 per cent, of period.

ture of that part of the Regent lode situated within the company’s boundary, and also the eastern and western ore bodies, a good deal of exploratory work remained to be carried out to ascertain the potentialities, which preliminary investigation would appear to warrant being carried out on these shoots.

In reply to a shareholder, Mr. Cody said that it had not yet been possible to determine costs.

The directors considered that it should be pos sible to get down to 40/ a ton, including ap propriation to development redemption reserve.

Mount Kasi Mines, Ltd.

December production of Mount Kasi Mines, Limited, Vanua Levu, Fiji, compared with pre vious yields are as follows: —

From New Guinea

Bulolo Gold Deposits.

AFTER providing £143 for depreciation, and writing off £202 expended in testing a property at Graytown (Victoria), Bulolo Gold Deposits, Ltd., New Guinea, earned net profit of £3,354 during the twelve months ended June 30, comparing with a loss of £1,387 in the previous year, and a profit of £1.084 in 1934-35.

The profit extinguishes a debit balance of £2,774 and leaves a credit of £5BO to be car ried forward.

During the year 206,000 cubic yards were treated, at an average cost of 6/2 a cubic yard.

Production was 1,492 oz. of bullion, which real ised £7,205, equal to 86/7 an oz. The tribute from New Guinea Goldfields on portion of the Koranga area yielded 970 oz., valued at £3,853.

The manager estimates the Morobe deposits lease on the Wildes property to contain 2,500,000 cubic yards of payable ground. The first clean-up was made at the end of October, 8,000 cubic yards returning 55 oz. 12 dwt. of gold. When plants on both areas—Morobe Alluvials and Mo robe Deposits—are working full capacity in sev eral months’ time, it is expected to treat ap proximately 30,000 cubic yards a month. Since closing the accounts recoveries from the Morobe area have averaged 22/3 a cubic yard. Values are improving.

Recent productions compare with December output as follow: 1

The work of opening out and sinking the ele vator on Morobe Deposits has not yet been com pleted. The yardage treated from this lease is small, owing to the heavy nature of the ground.

The manager states that better ground will be met with in the next paddock.

Oil Search, Ltd.

At the annual meeting of Oil Search, Ltd., held in Sydney on December 23, the chairman (Mr. W. A. Freeman) said the directors con sidered that the ultimate result of the nego tiations initiated in London by the managing director (Mr. Griffin) would be to place the company in a highly satisfactory position in regard to its New Guinea interests, and in other ways.

During the year, the field parties in Papua and the Mandated Territory of New Guinea had carried on geographical surveys on the permits and completed much valuable work.

Since June 30, the date of the accounts, he continued, heavy expenditure had been incur red, mainly in New Guinea, where, under the terms of the permits, the company was bound to spend specified sums annually in each terri tory. In spite of this expenditure, the Com pany had in hand ample funds to pursue its present programme.

Sunshine Gold Development, Ltd.

At the annual meeting of Sunshine Gold Development, Ltd., New Guinea, in Sydney, on December 21, the chairman (Mr. F. W. Torring ton) said that results for the 14 months to Sep tember 30, had been unfavourably affected, due to unforeseen stoppages and the necessity for treating ground located outside the originally selected area. The former had been satisfac torily overcome, and the plant was now work ing well.

Work was in progress on ground which con tained good values, and it was expected that recoveries would be quite satisfactory. It was believed that 300,000 yards would be treated dur ing the 12 months ended September 30, 1938, and that all-in costs would be in the vicinity of 9d. a cubic yard. Subject to normal condi tions prevailing at the mine, it was expected that a second dividend of 6d. a share would be declared in January, and thereafter quarterly dividends. During the year additional areas had been acquired, and such drillings as was deemed advisable would be carried out when the directors were of the opinion that the interests of shareholders would be best served by such a course.

New Guinea Goldfields, Ltd.

New Guinea Goldfields, Limited, reported in December as follows:

Sandv Ck. Gold Sluicing, Ltd.

The mine manager of Sandy Creek Gold Sluic ing, Limited, New Guinea, issued the following production figures In January:—

Developments (N.G.), N.L.

Expenditure amounting to £1,767 was incur red by Developments (N.G.) N.L., in the year ended July 31, at which date current assets

exceeded outside liabilities by £634. Following the abandonment of operations in New Guinea, the directors state, options over properties in Australia have been considered, but no suitable property has yet been secured.

Bulolo Gold Dredging, Ltd.

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

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Oct. 7 Pour weeks ended Nov. 4 Dec. 2 Dec. 30 Ore, tons .. 2900 2524 3304 1558 Go!d, fine, oz. 616 593 611 354 Value, £ A. .. 5390 5189 5346 3097 Mill was shut down 15 days in December for annual overhaul and repairs. Crushing was resumed on December 28.

Four weeks ended Sept. 29 Oct. 27.

Dec. 24 Morobe Alluvials— Hours 576 480 450 Cubic yard .. 7000 6000 6000 Gold, oz. .. 130 140 110 Morobe Deposits— Hours — 600* 490 Cubic yard .. — 8000 4500 Gold, oz — 65 35 ♦From Sept. 16 to Oct. 30.

Oct.

Nov.

Dec.

Cubic yards . .. 889,600 751,100 826,400 Bullion, oz. .. 15,999 12,573 16,404 Gold, fine.oz. . . .. 11,037 8,703 11,319

Value—

Aust. currency* .. £96,573 £76,151 £99,041 Per cubic yard 25.7 — — Working profit .. £70,280 £60,608 £62,343 * At £ A8/15/ per fine ounce.

November treatment included about 70,000 cubic yards tailings.

» Sept.

Oct.

Nov.

Edie Creek mill— Gold, oz , fine .. .. 1.053 1,014 1,109 Silver, oz., fine 3,134 3,185 3,218 Alluvial— Gold, oz., fine .. .. 1,288 1,321 1,132 Silver,* oz., fine 950 961 833 Gold Ridges mill— • Gold, oz., fine 685 483 377 Silver, oz., fine .. 734 536 374 Operating profit— Edie Creek £846 £1,090 £2,013 Alluvial 5,533 6,002 5,308 Golden Ridges 1,441 2,394 1,882

Sept.

Oct.

Nov.

Dec.

Cubic yards . 16,619 17,992 19,981 26,558 Gold, oz. 361 360 271 377 Per c. yd. . 3/2 3/ 2/01/ 2 2/1 ft Working cost 1/6 ft 1/6 1/5 1/2 During October operations were interfered with to some extent flood conditions. by heavy rains, causing

From New Caledonia

Chrome Alluvials. Ltd.

THE engineer in charge of Chrome Alluvials, Ltd., at Grand Port, New Caledonia, re ported on December 27 that a trial run of the plant was entirely satisfactory. He ex pected that full production would be reached be fore the end of January. There had been some delay because of cyclones.

An earlier report (December 18) stated;—Con centrating plant complete except for the disin tegrator; process entirely successful; trials sug gest working profit of more than 100 per cent.

Water race and dam shall be in full swing early in January. Taken up additional area known as Melbourne, containing very promising body of chrome, which runs down to seashore. Com pany now has very extensive properties, includ ing Bebert, Leonie, Stella, and Melbourne. These, with Les Deux Amis No. 2, justify at least two subsidiary companies.

From Papua

Cuthbert’S Misima Goldmine, Ltd.

A DECREASED tonnage of ore was treated by Cutfibert’s Mislma Goldmine, Ltd., Papua, in December. The value a ton of ore rose 6d., to 47/1. Production figures for the last three months are compared in the following table:—

The directors report that a change of season epidemic of colds and influenza has affected op erations. A Resident Doctor has now been ap pointed by the Papuan Government, and has taken up residence at Misima, hence It Is ex pected that this sickness will be shortly cleared up and reduced to a-minimum in the future. The

private wireless station maintained by Cuth bert’s, Ltd., Misima, has now been taken over by A.W.A., Ltd., who are operating it as a pub lic station.

Quartz Investments. Ltd.

Quartz Investments, Ltd., a mining company incorporated in the Dominion of New Zealand, was registered in Port Moresby in December as a foreign company under the Papuan Compan ies Ordinance. Nominal capital is £7,500, in 30,000 shares of 5/- each. The Public Officer is Mr. R. D. Bertie, solicitor, Port Moresby. The Co.’s registered office is at the office of Mr.

Bertie, Douglas St., Port Moresby.

Papuan Apinaipi Petroleum Co., Ltd.

Early in January, the directors of Papuan Apinaipi Petroleum Co., Ltd., reported that their field officers commenced drilling on December 22, and depth of bore was 54 feet on Dec. 31.

On January 17, the Co. reported:—Drill reach ed 297 ft., January 13; first 50 ft. weathered mudstone, balance hard calcareous shale, ex cellent for drilling. Gas with showings of oil coming in at various points ? in last 40 ft. in creasing with depth.

Oriomo Explorations, Ltd.

At the annual meeting of Oriomo Explorations, Ltd., in Sydney in December, the chairman (Mr.

J. D. Fell) said that it was expected that the plant of Hill End AUuvials* N.L. (N.S.W.) would be completed so that sluicing could be commenc ed before the end of January. The directors considered that the Hill End venture would en able the company not only to pay a reasonable dividend but also to recover over a period the capital which had been lost in exploratory work in Papua in the past. This would enable the company to pursue the exploratory mining work, for which purpose it had been formed.

Mandated Alluvials, N.L.

The directors of Mandated AUuvials, N.L., in a supplementary report to shareholders in De cember, stated that since the accounts closed on July 31 the mining operations have been en larged by the extension of adits, drives, and winzes to facilitate the supply of ore at a rapid rate, and the completion of the smelting plant is within measurable distance. All the plant and machinery has been delivered at the site select ed for the erection of the treatment plant,

and is being rapidly assembled. During the year an additional 50 acres adjoining the main pro perty was secured, and it is anticipated that this will be of value in future operations.

The issue in September, 1936, of 28,000 reserve shares at a premium of 5/- per share was fuUy subscribed. This makes the total number of shares issued 98,000. The directors will later submit a proposal with reference to the balance of 2,000 shares.

Oct.

Nov.

Dec.

Milled, tons 2,453 2,640 2,450 Bullion, oz. .. 2,597 2,475 2,316 Silver, fine, oz. 705 759 713 Estimated value (at £8 p. oz.) £5,729* £6,142 £5,769 Value per ton 46/9 46/7 47/1 *In addition. £440 worth of gold slags and residues were produced and shipped for realisation.