Mining News
pp. 61-62 · Read in the full issue
From Fiji
Loloma (Fiji) Gold Mines, N.L.
THE last clean-up from Loloma (Fiji) Gold Mines, N.L., Tavua, for the four weeks ended June 14 compared with the three previous yields as follows: —
tNo old residues were treated pending the in stallation of a larger pump.
Emperor Gold Mining Co., Ltd.
Emperor Gold Mining Co.. Ltd.. Tavua, Fiji, reports that figures for the last four production periods compare as follow: —
fConcentrates stacked, pending further treat ment, totalled 38 tons, estimated to contain 266 oz. of fine gold.
A supplementary report stated that churn drilling has been continued in the Cardigan area and the ore body has now been well de fined, which will facilitate extraction of ore.
Mount Kasi Mines, Ltd.
Recent yields from the Mount Kasi mine at Vanua Levu are compared in the following table:—
From the Solomons
Charlton South, N.L.
DIRECTORS of Charlton South. N.L., of Mel bourne, cabled their representative at Tulagi, British Solomon Islands, in mid-June, request ing him to abandon the option acquired by the Co. over the mining area adjoining the Solomon Gold Mines, N.L.. area.
Solomon Gold Mines, N.L.
Solomon Gold Mines, N.L., proposes to wind up voluntarily. The Co. was formed in Mel bourne In April to send Mr. T. R. Victor, mining engineer, to Guadalcanal Island, in the Solo mons, to inspect a prospective gold-bearing area.
Of 1,000 shares of £5 in the capital of the Co., 900 were issued at £2 a share application and allotment. Australian Gold Development, N.L, subscribed for 150 of the shares. The abandon ment of the area was recommended by Mr.
Victor in a cable message from the Solomons on June 9, in which he reported adversely on the prospects,
From Papua
Borneo Options, N.L.
IN a circular to shareholders, directors of I Borneo Options, N.L., reported in June, that an agreement has been finalised by which the Co.'s manganese deposits at Kapa Kapa, Papua, arc to be worked on its behalf by Melbourne interests, inter alia, on the following terms and conditions:— They are to mine and ship a minimum of 7,500 tons a year. The royalty payable to Borneo Options is £2 a ton net on the first 5,000 tons; £l/10/- a ton on the balance, 2,500 tons; £l/10/- a ton on any additional ore mined and shipped above 7,500 tons a year and up to 10.000 tons a year. On all ore mined and shipped in excess of 10,000 tons, the royalty will be at the rate of £2 a ton.
Directors state that satisfactory guarantees have been established for the carrying out of the contract, and the agreement covers a term of seven years, with a right to renew for a further seven years. These royalties are pay able tp Borneo Options monthly as the ore is shipped from Port Moresby. The terms free the Co from the necessity of obtaining any further capital as its mines will be worked at no further
cost to the Co. The circular added that as the guaranteed minimum quantity of ore has to be mined and shipped each year, the Co. must receive a minimum net sum of £13,750 a year.
This yearly income will make possible to the shareholders an estimated dividend of at least £2 a share a year.
Mandated Alluvials, N.L.
Returns from No. 11 shipment of matte from Mandated Alluvials, N.L., of Papua, show;—Ore treated (tons), oxidised 689, sulphite 362; matte produced, 38 Va tons, containing 360 oz. fine gold, 803 oz. silver, and 12 3 /4 tons copper, the net value being £3,675. Further shipments, Nos. 12 and 13, of 28Va and 24y 2 tons respectively, have now been made, and, subject to check assays, the approximate total contents are 530 oz. fine gold, 960 oz. silver, and 15 tons copper.
Reports from the mine indicate that what appears to be a new ore body has been opened up north of No. 6 adit. More than 100 tons of high-grade ore has been mined, and work is proceeding on a face over 15 ft. wide and 10 ft. in height.
The Co. repaid its debentures on July 1.
Papuan apinaipi petroleum co., ltd.
Papuan Apinaipi Petroleum Co., Ltd., reports that the transfer of the Sullivan scout drilling plant to the site of the No. 4 Oiapu bore loca tion has been completed, and drilling commenced there. Mr. E. A. Kodyen, the Commonwealth petroleum technologist, accompanied by Mr.
Launcelot Owen, the Co.’s geologist and general manager, returned to Sydney in June, and Mr.
Kodyen proceeded to Canberra to report to the authorities his recommendations for the test ing by deep drilling of the area held under the Co.’s permit.
In a progress report to shareholders, early in July, Mr. Owen stated that since May 31 de tailed study of the Oiapu area had proved that, in spite of the absence of surface indications of petroleum, the underlying mudstone is definitely petroliferous throughout the area. The light gravity of the traces of oil already encountered in the scout drills indicate the possibility that it is derived from a deep reservoir containing petroleum of much heavier gravity. Deep drill ing is necessary to prove or disprove the exist ence of porous horizons capable of producing
Mar. Apr. tMay tJune 22. 19. 17. 14.
Tons treated . . .. 2,355 2.185 2,390 2,244 Gold, oz.. fine .. . . 3,210 2.944 3,172 3,007 Silver, oz., fine . . .. 563 510 657 580 Residue, dwt 1.07 1.23 1.15 0.9
Mar. Apr. tMay tJune 22. 19. 17. 14.
Ore treated, tons . 14,750 13,650 13,912 14,162 Head value, dwt. .. 6.31 6.5 6.61 6.86 Gold, oz.. fine . .. 4,188 4.023 4,033 4,103 Residues, dwt. ... 0.5 0.47 0.55 0.71
Mar. Apr. May June 22. 19. 17. . 14.
Ore, tons . . . 3.310 2.826 2.893 2,355 Gold, fine, oz .. 652 633 669 592 Value, £ A .. .. 5,705 5,538 5,854 5.180
commercial oil, and the area should be tested to a depth of 5,000 ft. or more.
Cuthbert’S Misima Goldmine, Ltd.
Figures for the June clean-up from Cuthbert’s mine on Misima Island, Papua, compared with the two previous yields as follows: —
‘Reduced tonnage and grade caused by heavy rains and sickness.
From New Guinea
New Guinea Goldfields, Ltd.
A PROGRESS report issued on June 19 by The Mining Trust, Limited, consulting en gineers to New Guinea Goldfields, Limited, com pared the production and profit for March, April, and May, as follows:
April production at all centres was affected by the Easter holidays and by heavy rains. The Edie Creek mill loss in May was due to low heads. Other operations were affected by heavy floods.
Day Dawn South (N.G.), N.L.
The liquidator of Day Dawn South (New Guinea), N.L., has decided a final return of capital to shareholders of 28/- for each 100 shares. This will be paid on surrender of share certificates.
Enterprise Of New Guinea Gold And
Petroleum Development, N.L.
The general manager of Enterprise of New Guinea Gold and Petroleum Development, N.L. (Mr. H. Taylour), reports that the Co. treated 4,104 yards at Surprise Creek in May for a yield of 22 oz. 7 dwt. gold.
On June 14, the Co. made a call of 5/- per share, making 60/- paid.
Sunshine Gold Development, Ltd.
Sunshine Gold Development, Limited, reports that the clean-up for June yielded 375 oz. gold, the plant working 549 hours. The yield for the previous month was 276.2 oz.
Sandy Creek Gold Sluicing, Ltd.
Early in July the mine manager of Sandy Creek Gold Sluicing, Ltd., New Guinea, reported that the last four yields compared as follows;
Morobe Goldfields Output.
The £ A 2,000,000 mark for the Morobe Gold fields’ 12 months’ production to June 30 is be ing rapidly approached, wrote our Wau Corres pondent on June 24. The exact figure to April 30 was £ A 1,692,571. May output was 29.490 oz., representing £A154,039. The bullion value for the 11 months to May 31, therefore, was £ A 1,846,610.
April showed a return of £A166,052, compared with May’s £A154.039. However, considering the three floods which occurred in May, putting many miners out of action and seriously in terrupting New Guinea Goldfields, Ltd.’s opera tions at Golden Ridges, and Koranga Gold Sluicing Co., the average was well maintained; and it is reasonable to suppose that the £ A 12.000 drop might have been more than cov ered had mining kept on an even keel. Flood weather appears to have ceased and there is every prospect of the remaining £A153,390 be ing more than produced in June, thus establish ing a record annual output.
Equator Exploration Syndicate, N.L
Equator Exploration Syndicate, N.L., has been formed in Sydney with a capital of £5,000 in £25 shares to send Captain A. J. Kenrick to South Africa, England and Holland to complete a contract for a licence under Dutch laws for prospecting for gold and petroleum. Captain Kenrick has a concession of about 17,000 square miles in the Netherlands Indies and New Guinea possession. Directors are: Messrs. S. McKellar- White, A. H. Wildridge, and Major-General H.
G. Bennett, all of Sydney.
Mr. J. Hornell, late Director of Fisheries in Madras, will arrive in Fiji in August to carry out an investigation into the fishery resources of the Group and ad vise on the possibility of establishing a
fish canning industry.
Mr. D. McGregor, of the Automobile Association of New Zealand, is now spending several months in Fiji attend
ing to A.A. business.
Mr. G. Toogood, Patrol Officer in the
Papuan Administration, left Port Moresby
by the “Strathaird” for Sydney in June on three months’ leave, during which he
will fly to England.
April. May* June.
Treated, tons 3,056 2,698 3,010 Bullion, oz 2,966 2,525 2,793 Gold, fine oz 808 617.6 770 Silver, fine oz 2,088 1,840 1,956 Est. value £6,591 £5,052 £6,275 Value per ton . . 43/2 37/5 41/8
Golden Ridges mill— Tons treated 2,804 2,597 1,723 Gold, oz. f fine . . . . 1,015 947 778 Silver, oz., fine .. 1,545 1,435 1,121 Operating profit— Edie Creek, £ .. 2,523 *189 *865 Alluvial, £ .. 1,918 1,428 1,927 Golden Ridges. £ .. 1,627 1,555 176 •Loss.
Mar.
Apr.
May.
June.
Cubic yards . . .. 17.834 15,609 13,343 21.201 Gold, oz 463.1 310 153 228 Per cubic yard .. 3/10 Vi 2/11% l/SVi 1/7’A Working cost .. . 1/5 1/4 1/- 1/-
Mar.
Apr.
May.
Edie Creek mill— Ore, tons 3,443 2,769 3,269 Gold, oz., fine .. . 1,111 795 803 Silver, oz., fine .. . 4,143 4,062 3,979 Alluvial— Gold, oz., fine .. . 969 836 1,201 Silver, oz.. fine .. . 716 572 857