Pacific Mining
p. 71 · Read in the full issue
Notes
From Fiji
I.Oloma (Fiji) Gold Mines N.L.
I OLOMA (Fiji) Gold Mines N.L., which com menced production in September, 1937 earned a profit of £83,793 for the year to July 31, 1938. The profit was struck after pro viding £24,427 for mine development, £9 877 for depreciation, and £4,300 for taxation.
Bullion proceeds returned £193,949. The treat ment of 18.036 tons returned 22,075 oz. gold and 5,589 oz. fine silver. Total costs were 66/2 56 a ton Fijian currency, of which 52/11.72 rep resented mine administration and general charges, and 13/2.84 development.
Now that the treatment plant has reached capacity, and with improvements being made to increase the tonnage, it is expected that the costs will be reduced materially. The di rectors write that treatment operations are proceeding smoothly, with the plant produc ing at slightly over its rated capacity. Residue values are gradually being reduced.
The general manager (Mr. F. R. W, Godden) estimates ore reserves at 138,815 tons, of which 109,715 are positive and 29,100 prob able. The positive ore has an average value of 27.29 dwt. gold, and the probable ore 19.31 dwt. The favourable development of the south ern shoot at the 224 ft. level, and the per sistence of the southerly pitch of the pay shoots have rendered a new shaft necessary The site selected is 280 ft. east of No. 8 pros pecting shaft. Values in the northern shoot at 224 ft. have been disappointing, but the lode is very disturbed there, and the general manager hopes for something better at the 324 ft. level.
Mr. Godden considers that the opening up of a long length of solid lode of good width and value, and carrying tellurides, on the 224 ft. level, Is one of the best developments that has yet occurred.
Production figures for October-November compare with the previous yields as follows:
Emperor Gold Mining Co. Ltd.
Emperor Gold Mining Co. Ltd., the operating company in Fiji for Emperor Mines Ltd., re ports a net profit of £63.592 (Fijian), equal to £ A 71.541 for the year ended June 15.
Profit is struck after providing £F23,029 for depreciation, £F22.838 for development and prospecting, and £F3,800 for income tax. The operating company paid the first interim divi dend amounting to £A101,250, on September 15, enabling Emperor Mines Ltd. to declare its first dividend of 1/- a share, payable on No vember 10. The bank overdraft of the oper ating company, which had been reduced to £F28,639 at the balance date, has since been extinguished by the surplus from gold pro ceeds.
In the year 128,008 tons of ore were treated for 38 591 oz. fine gold. Operating costs per ton in Fijian currency during the last three four-weekly periods, which the general man ager (Mr. N. E. Nilsen) considers normal, were; Mining 4/7, development redemption 3/8, mill ing 9/10, general expenses 1/7, total 19/6. This does not Include Melbourne and London ex penses, income tax, and depreciation, but it includes a substantial amount a ton for cur rent and future development.
Recent yields are compared In the following table:—
Combined head value averaged 6.81 dwt. per ton. New mill head value 6.9 dwt. per ton.
Pilot plant head value 5.1 dwt. per ton. New mill residues 0.5 dwt. p°r ton. Pilot plant re sidues 0.56 dwt. per ton. Concentrates from pilot plant estimated to contain 46 oz. fine gold stored for further treatment.
Mt. Kasi Mines Limited
Yields from the Mount Kasi Mine, Vanua Levu, Fiji, for the past four months, are com pared in the following table: —
Four weeks ended Aug. 10 Sept. 7 Oct. 5 Nov. 2 Tons treated 1.850 2,080 2.120 2,125 Gold, oz. fine . 2,402 2.742 2,785 2,852 Silver, oz.. fine . 453 460 559 663 Residue, dwt. 2.1 1.95 1.62 1.57
Four weeks ended Aug. 10 Sep. 7 Oct. 5 Nov. 2 Ore treated, tons 14.091 14.583 13,901 13.183 Head value, dwt. 6.29 6.3 6.5 6.81 Gold, oz., fine .. 4,017.5 4,120.6 4.165,7 4.109.4 Residues, dwt. 0.57 0.53 0.62 0.5
Four weeks ended: Aug. 10 Sept. 7 Oct. 5 Nov. 2 Ore. tons . . . 3,030 2,754 2,778 3,318 Gold, fine oz. .. 659 615 662 695 Value (£ A) . . 5,766 5,381 5,792 6.081