N.G. Gold
p. 35 · Read in the full issue
Output Now Exceeding Two and Half Millions p.a.
From Our Own Correspondent.
WAU, January 16.
THE output of gold on the Morobe field for the year ended June 30 last was valued at £A2,041,317, on its original valuation. This figure may have been increased by the rise in the price of gold at the end of the period.
The output reported for the two months November and December, 1939, reached the very high level of £A629,316.
The total output for the six months, July to December, represents a value of £A1,269,054.
With Bulolo working eight dredges, now, and the new Koranga workings of New Guinea Goldfields Ltd. producing large quantities of gold, it is reasonable to presume that last year’s total will be substantially exceeded during the current year.
New Guinea Government royalty (5 per cent.) on a production of £2,500,000 per annum will be no less than £125,000 p.a.; and, on top of that, there will be another sum (from £lOO,OOO to £200,000 p.a.) de rived from the Commonwealth excise tax on gold, which will be used in some form for the benefit of New Guinea. If the Administration, in such circumstances, shows another deficit, it cannot hope to escape a thrashing.
Mr. Arthur L. Milner, of the Melane sian Mission at Maravovo, Solomon Islands, arrived in New Zealand recently on lone furlough. He sailed later for England.