From Fiji

Loloma (Fiji) Gold Mines, N.L.

PROFIT of Loloma (Fiji) Gold Mines, N.L., in the year ended July 31, was £193,814.

In the previous year, the Co. was producing for 10 months and the profit was £83,793.

Operating profit was £232,785. Of this amount, depreciation absorbed £11,923, mine development £17,342, and taxation £11,400.

Four dividends of 1/- each were paid, requiring £ 165,000. Since the close of accounts, distri bution of a further 2/6 per share has been an nounced. In the year, 27,767 tons of ore were treated for 37,208 oz. of fine gold, and 7,658 oz. of silver. Residues averaged 1.36 dwt. gold per ton, compared with 3.184 dwt. in the previous year. Extraction was 95.167 per cent., compared with 87.656 per cent. The average value of ore treated was 28.14 dwt. per ton. Total produc tion costs were 64/9 per ton in Fijian currency, which is a small reduction on the 19'37-38 period.

The annual meeting of the Co. was held on December 12.

The output for the four weeks ended November 29 compares with the three previous periods as follows:

*ln addition recovered 231 oz. gold from re treatment of accumulated slimes. Increased head values due to exceptionally good values en countered in west crosscut off No. 6 stope 43 ft. above No, 1 level. The position of these values suggests possibility of flat make connecting with footwall of lode corresponding to No. adit south drive.

Emperor Gold Mining Co., Ltd.

A profit of £204,288 was earned by Emperor Gold Mining Co., Ltd., for the year ended June 30. Operating profit was £244.021 in Fijian currency. Of this. £22,551 was absorbed bv depreciation, £29.873 by mine development, and £10,007 by taxation.

Emperor Mines, Ltd., for which the Co.

operates, received £ 196,875 in dividends, and distributed 2/- per share, requiring £190,000.

Another 1/- per share was paid after the bal ance date. Current assets of Emperor Mines, Ltd., total £ A 312,155, and current liabilities £1,667. Investments in other companies are shown at cost at £664,320. Ore reserves at September were estimated at: Positive ore, 193,350 tons of oxidised, average 6.8 dwt. ton; 100,300 of semi-oxidised, average 8.1 dwt.; 493,400 tons of sulphide ore, average 8 dwt. gold per ton.

Operating costs were 20/5.1 per ton in Fijian currency, against 19/6 the previous year.

An extensive developmental programme has been planned for next year. The Co. proposes to spend £30,000 on modifications and additions to the treatment plant, for the treatment of sulphide and semi-sulphide ore.

T t T he fourth annual meeting of Emperor Mines, Ltd., was held on December 12. A resolution considered was the increasing of directors’ total remuneration from £1,500 to £2,000 per annum.

November production of the Emperor mine is compared with the three previous yields in the following table:—

Old mill recovered 284 oz. from treatment of accumulated concentrates, making total for October 4 period 4,122 oz. *ln addition, recovered 450 oz. from accumu lated concentrates, making total production 4,762 OZ.

T 1,066 oz. from accumulated concentrates, total production 5,029 oz.

Mount Kasi Mines, Ltd.

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

Sept.

Oct.

Nov. *Nov. 6. 4. 1. 29.

Tons treated . .. 2.525 2.540 2,532 2.520 Gold, oz., fine 3.295 3,277 3,330 3.780 Silver, oz.. fine . 660 674 Residue, dwt. . ., 0.84 1.0 1.2 1.5

Four weeks ended Sept. Oct. *Nov. tNov. 8. 4. 1. 29 Ore treated, tons .. 13.185 12,655 13.386 12,400 H*?ad, value, dwt. .. 7.0 6.8 72 71 Gold oz, fine . .. 4.046 3.838 4,312 3.963 Residues, dwt 0.81 0.67 0.70 0 70

Pour weeks ended Sept. 6. Oct. 4. Nov. 1. Nov. 29.

Ore. tons . .. 3.069 3,547 3,520 3 058 Gold, fine, oz. . 716 657 707 ’710 Value, £ A . .,7.160 6,570 7,070 7,100