Islands Mining
pp. 67-68 · Read in the full issue
News
From Fiji
Emperor Mines, Ltd.
DIRECTORS of Emperor Mines, Ltd., advise that alterations to the old mill are well advanced and present indications are that the flotation plant will be in operation by April 1.
All flotation equipment has arrived at the mine, and good progress is being made with its erec tion.
Production for the past four periods is shown in the following table: —
•Concentrates stacked for further treatment estimated to contain 21 oz. fine gold.
Loloma (Fiji) Gold Mines, N.L.
February production from the Loloma goldmine is compared with the three previous periods in the following table: —
Mount Kasi Mines, Ltd.
Reports from Mount Kasi mine on Vanua Levu, Fiji, compare February production with those of November, December and January as follows:—
The directors have announced a first dividend of 3d. per share, payable March 20. Books closed March 5.
From New Guinea
New Guinea Goldfields, Ltd.
A PROGRESS report issued on February 17 by the Mining Trust. Ltd., consulting engineers to New Guinea Goldfields, Ltd., compared the production and profit for November, December and January, as follows; —
Considerable activity in the Co.’s shares was reported on the London Stock Exchange late in February, as a result of a statement by N.G.G.’s chairman, Mr. Julius Kruttschnitt, concerning the return of capital to shareholders to offset the effects of ore depletion on the Co.’s capital structure. It is anticipated that action in this direction will be taken at the end of the current financial year.
Sunshine Gold Development, Ltd.
Sunshine Gold Development, Ltd., reported in March that the clean-up for February yielded 539 oz. 16 dwt. of gold from 44,428 cub. yds. This compares with 362 oz. in January, 364 oz. in December, and 201 oz. in November.
Sandy Creek Gold Sluicing, Ltd.
February production figures for Sandy Creek Gold Sluicing, Ltd., are compared with the three previous months in the following table:—
From Papua
Mandated Alluvials, N.L.
DIRECTORS of Mandated Alluvlals, N.L., re ported early in March that further ship ments of 73 tons of copper-gold matte. Nos. 21 and 22, have been made from Port Moresby.
Preliminary assays give the contents as 508 oz. fine gold, 1,326 oz. silver, and 16 tons of elec trolytic copper. The estimated net value is £5,800. The total production for the first six months of the current financial year is 1,950 oz. fine gold, 5,020 oz. silver, and 88 tons of elec trolytic copper, the net value of which exceeds £22,600.
Papuan Apinaipi Petroleum Co., Ltd.
A new issue of 150,000 shares of 5/- each is being made by Papuan Apinaipi Petroleum Co., Ltd. The shares will be issued at par to
Pour weeks ended Nov. Dec. Jan. *Feb. 29. 27. 24. 24.
Ore treated, tons .. 12.400 10,563 13,132 13,114 Head value, dwt. .. 7.1 7.25 6.37 — Gold, oz., fine .. 3,&-63 3,433 4.049 3,657 Residues, dwt. ... 0.70 0.70 0.50 —
Four weeks ended Nov.
Dec.
Jan. •Feb. 29. 27. 24. 24.
Tons treated .. 2,520 2,220 2,522 2,514 Gold, oz., fine . .. 3,780 3,357 3,821 3.821 Residue, dwt. ... .. 1.5 1.36 1.43 1.25 •Head value, 31.65 dwt.
Retreated, 334 tons, for 178 oz. fine gold.
Total recovery, 3,999 oz. fine.
Nov. Dec. Jan. *Feb.
Cubic yards . . 18,920 14,267 21,214 17,667 Gold, OZ 243 240 203 178 Per cubic yard 1/11 2/6V2 l/6Ya 1/7V2 Working cost .. 1/ — l/6*/2 /10 ♦No. 1 plant operated for half the month only, the remaining time being taken up in moving to a new position.
Bulolo Gold Dredging, Ltd.
January production figures of Bulolo Gold Dredging, Ltd., New Guinea, are compared with the two previous months in the following table: — Nov. Dec. *Jan.
Cubic yards . . .. 1,619,000 1,543,000 1,606,000 Bullion, oz 24,684 19,996 20,664 Gold, fine oz. . . 17,032 13,797 14,259 Estimated working profit for January, 8,646 oz. of fine gold. ♦No. 3 dredge was closed throughout January for alterations to the gold-saving equipment.
Four weeks ended Nov.
Dec.
Jan.
Feb. 29. 27. 24. 21.
Ore, tons .. . • 3,058 3,044 3,058 3,040 Gold, fine, oz. . 710 683 660 663 Value, £ A .. .. 7,100 6,830 6,600 6,630
Nov.
Dec. tJan.
Edie Creek mill— Ore, tons 2,703 2,981 2,773 Gold, oz., fine .. . . 748 789 688 Silver, oz.. fine .. .. 6,108 5,369 4,039 Alluvial — Gold, oz., fine .. .. 1,763 1,341 1,258 Silver, oz., fine .. .. 1,216 950 898 Golden Ridges mill— Tons treated 2,500 2,268 2,676 Gold, oz., fine .. 1,186 1,108 1,226 Silver, oz., fine .. 1,363 1,235 1,395 Operating profit— Edie Creek, £ .. •144 132 •638 Alluvial, £ 5,236 4,191 3,580 Golden Ridges, £ .. 3,440 3,123 4,002 •Loss. tProduction affected by influenza epidemic, and low extraction on mill heads basis.
shareholders in the ratio of three for five.
Directors state that ofice major drilling has commenced delays must be avoided in order to achieve success at a reasonable cost. Under the Papuan ordinances, petroleum cannot be ex ported until the lease has been taken out, which would involve the Co. in a payment of a deposit of £lO,OOO. Mr. E. A. Kodyen considers deep drilling will begin on March 15.
At the termination of his engagement as chief drilling inspector with the Commonwealth Gov ernment. Mr. Kodyen, with the approval of the
Federal authorities, will enter the service of the Papuan Apinaipi Petroleum Co., Ltd.
Sapphire Gold, N.L.
At a meeting of Sapphire Creek (Papua) Development Syndicate, N.L., on March 8, it was decided to change the name of the Co. to Sapphire Gold, N.L. It was also resolved to subsidise the present capital of 5,000 shares to £2 each, into 50,000 shares of 4/- each, and increase the face value of these shares to £l.
Cuthbert’S Misima Gold Mine, Ltd.
Figures for the February clean-up from Cuth bert’s mine on Misima Island, Eastern Papua, compare with the two previous yields as follows:
Yodda Goldfields, Ltd.
Yodda Goldfields Limited reported early in March that the yield for February was 104 oz.
Dec.
Jan.
Feb.
Mill treated, tons .. 3,300 2,928 3,390 Bullion, oz. . 3,265 3,285 3,661 Gold, fine oz. .. 832 751 864 Silver, fine oz. . . 2,370 2,457 2,728 Estimated value .. £6.775 £6,145 £7,055 Value per ton of ore 41/1 41/11 41/7