Islands Mining

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From Papua

Papuan Apinaifi Petroleum Co., Ltd.

Papuan apinaipi petroleum co., ltd., announced early in September that the No. 4 Oiapu Scout Bore was down to 929 ft. with continuous gas showing, the gauge pres sure at the surface being 120 lb. to the square inch. From 745 ft. onwards the core showed that the formation was becoming more car bonaceous.

Yodda Goldfields, Ltd.

Yodda Goldfields, Ltd., announced in early September that the yield for August was 98 oz. of gold.

Mandated Alluvials. N.L.

Transfer books of Mandated Alluvials. N.L., closed on September 12 in connection with the proposed payment of an interim dividend of 3d. per share, payable on September 26.

Cuthbert’S Misima Goldmine, Ltd.

Figures for the August clean-up from Cuth bert’s mine on Mislma Island. Papua, compared with the two previous yields as follows;

From New Guinea

Sunshine Gold Development, Ltd.

THE directors of Sunshine Gold Development.

Ltd., in a circular to shareholders, state that it is not possible to make a distribution from profits this year.

The surface area of the ground from which overburden has been removed is five and a half acres, and for the past three months, the direc tors point out, the company has been elevating the deeper gravels with profitable results. The No. 5 elevator, however, is working ground of comparatively low value, and it is not expected that the richer ground uncovered by deflecting the course of the Watut River will be reached until later in the year. No. 6 elevator is al ready in position to treat this ground. A pipe line over the Watut River, to sluice the terraces, has been laid, and it is expected that sluicing will be in progress during September. The sluic ing of the terraces will not require the use of elevators.

The directors believe that no further major capital expenditure on the company’s property will be requlredT for some time. The whole of the work undertaken this year has been carried out with the object of increasing production and lengthening the life of the mine.

The clean-up for August yielded 273 oz. of gold.

New Guinea Goldfields, Ltd.

A progress report Issued in August by The Mining Trust, Limited, consulting engineers to New Guinea Goldfields, Limited, compared the production and profit for May, June and July, as follows:

Enterprise Of New Guinea Gold And

Petroleum Development. N.L.

A report from Enterprise of New Guinea Gold and Petroleum Development, N.L., In mld-

August, gave the following details of opera tions: —Edie mine, faces on the three levels still in ore. South crosscut at 1,000 ft. from portal of No. 1 level passed through several makes of quartz. At 23 ft. from the main drive across a width of 21 in., following were values: Gold 8 oz. 19 dwt. 9 grs., silver 16 oz. 8 dwt. 19 grs.

Crosscut being continued, and still in mineral ised quartzitic material.

Sandy Creek Gold Sluicing, Ltd.

The mine manager of Sandy Creek Gold Sluic ing. Ltd., New Guinea, reported early in Sep tember that the last four yields compared as follows: —

From Fiji

Loloma (Fiji) Gold Mines, N.L.

THE sixth dividend from Loloma (Fiji) Gold Mines, N.L., of 1/- a share was declared payable on September 8. Share transfer books closed on August 25.

With this payment (requiring £41,250), Loloma will have returned £247,500 to shareholders, while Emperor has returned £237,500. Total distributions from these two Fijian undertakings has thus reached £485,000 —within a period of four years from the formation of Loloma com pany and the first crushing by Emperor as a public company. (Continued Overleaf)

May. June. July. Aug.

Cubic yards .. .. 13,343 21,201 24,443 26,693 Gold, oz * 153 228 279 446 Per cubic yard . . I/8V2 l/VU I/8V2 2/4 , ,2 Working cost ... 1/- 1/- /II Vi /II

June. July. Aug.

Mill treated, tons .. .. 3.010 3,107 3,326 Bullion, oz 2.793 2.998 3,354 Gold. fine, oz 770 800 842 Silver, fine oz 1.956 2.125 2,436 Estimated value £6.275 £6.525 £6.885 Value per ton of ore 41/8 42/- 41/5

May June July Edie Creek mill— Ore, tons .. 3,269 2,973 3,182 Gold, oz., fine . 803 787 903 Silver, oz., fine . 3,979 3,751 5,280 Alluvial— Gold, oz., fine .. 1,201 653 1,060 Silver, oz., fine . 1,121 1,222 1,923 Golden Ridges mill— Tons treated 1,723 2.5-95 3,116 Gold, oz., fine . . 778 999 2,002 Silver, oz., fine . 778 999 2,002 Operating profit— Edie Creek. £ *865 *765 1,185 Alluvial, £ 1,927 *699 1,578 Golden Ridges, £ 176 1,556 10.294 •Loss.

Loss on alluvial in June was due to low value of the gravel treated.

Loloma’s dividends are as follows:—May 27, 1938, 1/-; August 31, 1938, 1/-; December 9, 1938, 1/-; March 8, 1939, 1/-: June 8, 1939, 1/-; September 8, 1939, 1 Output figures of Loloma showed ah all round increase in the financial year just ended.

Average grade improved to 26.8 dwt. of gold to the ton of ore. Reserves of ore have re cently been augmented by development work in the lower levels. Profits in the six months to January 31 was £97,698 against £83,793 for the previous 10 months.

A recent report from the company stated:— Theodore Shaft.—Skidded to 323 ft. Pipe and ladderway compartments partitioned. Flat sheets and back timbering at Nos. 1 and 2 plats being installed. Pumps installed on No. 3 level and 6 ft. discharge line installed to surface.

General.—Erection of conveyor system from Theodore shaft to Mill well in hand. Regent Lode.—Winze being sunk by the Emperor near Loloma boundary has disclosed values approxi mately 1 oz. over width of 60 in. for depth of 100 ft. Persistence of these values indicates possibility of their extension into our company’s lease.

The September yield is compared with the three previous months in the following table: — Four weeks ended

Emperor Gold Mining Co., Ltd.

Emperor Gold Mining Co. Ltd., reported at the end of August, that 1,101 ft. of chum drill ing had been completed along N. end of the Cardigan main lode. Pour holes disclosed flat make approximately 80 ft. from surface, values averaging 15 dwt. a ton over 15 ft. Further testing will be necessary before tonnage or grade can be reported.

Construction is proceeding satisfactorily on the Vatia wharf. Good progress is being made with the new workshops and store buildings to

serve Emperor and Loloma. The lime kilns at Tau are functioning smoothly.

Returns from the Emperor mine for the past four four-weekly periods are compared in the following table:—

Concentrates stacked, pending further treat ment, 13 tons, estimated to contain 50 oz. of fine gold.

Mount Kasi Mines, Ltd.

Latest yields from the Mount Kasi mine at Vanua Levu are compared in the following table:— '

June 14. July 12. Aug. 9.* Sept. 6.

Tons treated .. 2,244 2,548 2,459 2,525 Gold, oz„ fine . . 3.007 3,408 3,236 3,295 Silver, oz., fine , 580 9t»5 572 660 Residue, dwt. . 0.9 0.95 1.28 0.84 •No old residues retreated. Mill closed 24 hours —public holiday.

Four weeks ended June July Aug. Sept. 14. 12. 9. 8.

Ore treated, tons 14.162 13,971 14,445 13,185 Head value, dwt. . . 6.86 6.5 6.45 7.0 Gold, oz., fine , 4,103 4,103.5 4,086 4,046 Residues, dwt. 0.71 0.46 0.63 0.81

Four weeks ended June 14. July 12. Aug. 9. Sept. 6.

Ore. tons . . 2355 2662 2719 3069 Gold, fine oz. 592 622 652 716 Value. £ A. . 5180 6442 5705 7160