From Papua

Cuthbert’S Misima Gold Mine Ltd.

IN the year ended December 31 Cuthbert’s Misima Gold Mine Ltd., Eastern Papua, won gold and silver of an estimated value of £60,884. This compares with £52,160 in the previous year. Tonnage treated and gold and silver extracted all showed increases. The value a ton of ore treated was a little lower. As ac counts for the year ended December, 1936, re vealed a net profit of £27,635, it seems certain that the 1937 profit will show a substantial increase. The Co. is steadily increasing its treatment tonnages, and in November last had a record throughput. The enlarged plant should soon be treating ore at the rate of 40,000 tons a year.

Production for the last three months are compared in the following table:—

Gold Mines Of Papua Ltd.

Gold Mines of Papua Ltd. advise that crush ing commenced at the Company’s mine on Misi ma Island, Eastern Papua, on February 2. Proved and probable ore was estimated on June 30 last at 250,000 tons of mainly oxidised ore and 150,000 tons of sulphide ore above the drain age level. Milling head value of the oxidised ore, of which 120,000 tons had been blocked out at June 30, was estimated at 46/ a ton.

Mandated Alluvials N.L.

At an extraordinary meeting of Mandated Alluvials N.L., held in Sydney on February 11, shareholders were presented with the report of the directors on progress and development of the Company’s property in the Laloki district, about 25 miles from Port Moresby, Papua. Ar rangements were considered for the provision of immediate finance. It is estimated that full production will be reached in March. To reach this stage an additional sum of approximately £3,000 is needed. The directors suggested that the money should be provided by shareholders as temporary loans, repayable, say, within six months. An alternative was an issue of 10,000 preference shares of 5/- each.

Papuan Apinaipi Petroleum.

After consultation with the Commonwealth au thorities, the Papuan Apinaipi Petroleum Co., Ltd., commenced its programme of scout drill ing in December. The first of these bores has been put down to a depth of 509 feet, the sec ond is at present down 50 feet, and cores are being taken during the drilling operations.

The January output of dry rubber

from the Papuan plantations of Koitaki

Para Rubber Estates, Ltd,, was 38,513 lb.

Nov. Dec. Jan.

Mill treated, tons .. 2,640 2,450 2,611 Bullion, oz 2,475 2.316 2.698 Gold, fine, oz 759 713 788 Silver, fine, oz 1,477 1,368 1,587 Est. value (at £A8 oz.) £6,142 £5,769 £6,374 Value per ton .. .. 46/7 47/1 48/10