From New Guinea
pp. 71-72 · Read in the full issue
Bulolo Gold Dredging Ltd.
TREATMENT figures issued by Bulolo Gold Dredging Ltd., New Guinea, show that during the last two half-yearly periods, the yardage treated, gold recovered, and work ing profit have all become lower. The Co. is still earning substantial profits, however, and recent estimates give the areas a life of about 17 years.
In the six monthly period ended November 30, 1937, the Co. had a working profit of £387,290 as compared with £412,986 and £451,- 894 in the two preceding six-monthly periods.
Over the last six months, values have risen slightly from 5.9 grains a cubic yard to 6.0 grains a cubic yard. When the property is equipped with the two new dredges. Nos. 6 and 7, a reduction in working costs should be effected. About the middle of last year, output was affected because of the changing of the courses of two dredges. This required the dig ging of a large volume of tailings and some overburden.
A comparison of the treatment figures in the last three half-yearly periods is given in the following table:—
Bulolo Gold Deposits Ltd.
The January report of Bulolo Gold Deposits, New Guinea, compared with recent yields as fol lows:
Nov., May, Nov., 1936. 1937. 1937.
Yds. treated .. . 5,866.400 5,365,190 5,158,300 Bullion, oz 106,182 93,975 93,328 Gold, fine, oz. 74,171 65,070 64,662 Est. work, profit, oz. 51,645 47,199 44,262 Prod, value £648,997 £569,369 £565,799 Working profit £451,894 £412,986 £387,290 January’s production of the five dredges of Bulolo Gold Dredging Ltd. compares with that of the previous two periods as i follows:— Nov.
Dec.
Jan.
Cubic yards .. .. 751 100 826,400 16,404 Ann Bullion, oz ooz.ouu 15,096 Gold, fine, oz. 8,703 11,319 10,408 Value— Aust. currency .. £76,151 £99,041 £91,070 Working profit .. £60,068 £62,343 £65,493
Oct. Dec. Jan.
Morobe Alluvials— Hou rs 480 450 625 Cubic yard 6,000 6,000 7,500 001(1 02 140 110 110 Morobe Deposits— Hours 600 490 450 0111,1(5 yard 8,000 4,500 3,000 °° ld . 02 65 35 25 The January clean-up for the Morobe Deposits area is reported as incomplete, and the
ground being treated is still heavy. The balance of the clean-up from this area for the Decem ber period and not included in returns was 15 oz. 17 dwt. from 950 yards. The chairman of directors, Mr. C. E. Hopkins, has returned from a visit to the properties, and reports satisfac tion with the management and working opera tions.
Sunshine Gold Development Ltd.
Sunshine Gold Development Ltd. has declar ed a dividend of 6d. a share, payable on Feb ruary 28. Books closed on February 17. The previous dividend of 6d. a share was paid on October 1, 1937.
The clean-up at Sunshine’s area in New Guinea during January was 428 oz. gold.
New Guinea Goldfields Ltd.
The Mining Trust, Ltd., consulting engineers for New Guinea Goldfields Ltd., reported as follows on January 24:
Enterprise Of New Guinea.
Mr. Harold Taylour, general manager of En terprise of N.G. Gold and Petroleum N.L., re ported that production of unrefined retorted al luvial gold from all sources for the month ended January 31 was 30 oz. 17 dwt. from 5,103 cubic yards wash dirt and 3,159 overburden.
Owing to the small tonnage treated at the Edie Creek mine no clean-up was made. These figures compare with November and December as follows:
Oct.
Nov.
Dec.
Edie Creek mill— Gold, oz., fine .. 1,014 1,109 1,190 Silver, oz., fine 3,185 3,218 3,951 Alluvial— Gold, oz., fine 1,321 1,132 1,337 Silver, oz., fine . . . . 961 833 961 Golden Ridges mill— Gold, oz.. fine 483 377 296 Silver, oz., fine .. 536 374 346 Operating profit— Edie Creek .. £1,090 £2,013 , £2,329 Alluvial 6,002 5,308 5,540 Golden Ridges 2,394 1,882 1,199
Sandy Ck. Gold Sluicing Ltd.
The mine manager of Sandy Creek Gold Sluicing Ltd., T.N.G., issued the following comparative figures Siof production on February Oct. Nov.
Dec.
Jan.
Cubic yards 17,992 19,981 26,558 (15,150 Gold, oz 360 271 377 249 Per cubic yd. 3/ 2/0 y 2 2/1% 2/5 % Working cost 1/6 1/5 1/2 1/6
Nov.
Dec.
Jan.
Wash dirt, yards .. .. 2,837 2,779 5,103 Overburden, yds. . .. 4,426 2,600 3,159 Unrefined, retorted alluvial gold, oz 833/4 293/4 303/4 Edie Mine— Ore, tons 553 552 Gold, bullion, oz. 121 1273/4 —