From Papua

Papuan Apinaipi Petroleum Co.

RADIO advice from Mr. Launcelot Owen, the Papuan Apinaipi Petroleum Co.’s geolo gist, stated on September 12 that the Oiapu bore was down 853 feet, that the trace of oil struck at 774 feet was continuous to 842 ft., and that there was slight gas at 774 ft. to the bottom. Dr. Wade and Dr. Ward having com pleted their inspection of the Company’s area, returned to Sydney in September by the “Macdhui”. They have submitted a report to the Minister for Territories.

The following report of their visit has been received from Mr. Launcelot Owen: ‘‘The de tail work done and the results of my exam ination of the air photographs taken since

my report of May 31 have fully confirmed my favourable opinion of the Oiapu structure as a potential oil producer. The showing of oil does prove that the lower argillaceous ser ies in which we are now drilling, is petrolifer ous at the actual well site. Such work as has been done, and the results from the Oiapu bore have amply confirmed the statements in my published report and the conclusions which I reached. The cores have been minutely ex amined by Dr. Wade and Dr. Ward, and my self. A noticeable feature of the cores is the abundance of plant remains, which proves shallow water conditions of deposition”.

Mandated Alluvials N.L.

Mandated Alluvials, N.L., Papua, reports that returns from Chillagoe smelters, give the net assay of the fourth shipment of matte as 286 oz. gold, 4590 z. silver, and 7 tons copper, the total value being £3,048.

Misima North Ltd.

Misima North Limited has been registered in Sydney with a nominal capital of £lOO,OOO in £1 shares to acquire mines and mineral pro perties in Eastern Papua. The first directors are Messrs Joseph Tomlinson, Robert Dugan, Claude M. Cox, and Alfred N. Harding.

Yodda Goldfields Ltd.

Yodda Goldfields Ltd., Papua, reports a net profit of £l,OBB for the year ended April 30, and, after deducting a debit balance of £712, brought forward, there remains a credit of £376 in profit and loss account. The direc tors recommend payment of a dividend of Id a share, amounting to £365. In May last, capital was reduced by writing off assets suf ficient to reduce the nominal value of shares to 2/- each. Gross proceeds of gold won during the year totalled £3.737 from 25,882 c. yds., averaging 2/10 a yard. Continued improve ments in results are anticipated and a conse quent payment of quarterly dividends.

Mr. H. T. Kienzle, mine manager of Yodda Goldfields Ltd., said at the annual meeting in Sydney in mid-September, that the mine had a life of about 10 years. The present output was about 70oz. per month. A dividend of Id. per share was declared at the meeting, and,

in a statement submitted by the directors, a further dividend of Id. per share, payable on October 15, was foreshadowed.

Yield for Yodda Goldfields for September was 87oz. 3dwt.

Gold Mines Of Papua Ltd.

Comparative monthly returns from Gold Mines of Papua, Ltd., Misima Island, show:—

Cuthbert’S Misima Goldmine Ltd.

Figures for the monthly cleanup on Sep tember 23 from Cuthbert’s Misima mine com pare with the previous two months as fol lows: —

Total developments for August 401 ft.; 511 tons ore won from development; 2,347 tons from stopping; total 2,858 tons; average assay, gold 6dwt. 6gr. per ton; silver, 36dwt. 3gr. per ton.

Mr. Percy Morris, a director of Morris, Hedstrom, Ltd., and a former resident of Fiji, visited the Colony on a holiday trip in September.

Mrs. Montgomery, wife of Mr. J. N.

Montgomery, chief geologist of Oriomo Oil Co. Ltd., arrived in Port Moresby from Melbourne by the “Macdhui” on Septem ber 30.

June. July.

Aug.* Sept.f Crushed, tons 1,690 2,190 2,128 2,750 Gold, oz., fine — — ' 396 Silver, oz — — — 1,749 Value £1,775 £2,675 £2,705 £3,620 ♦ Average battery head value by assay was 5dwt. and the tails 6 grains. t Residues, 7 grains.

July. Aug. Sept.

Treated, tons .. .. 2,800 2,858 2.905 Bullion, ozs 2,466 2,872 2,922 Gold, fine, oz 804 822 835 Silver, fine, oz 1,570 1,939 1,986 Value, £A8 oz. .. £6,517 £6.684 £6,797 Value per ton .. 46/7 46/9 46/9