Mining News

From Papua

Cuthbert’S Mis Ima Gold Mines, Ltd.

OCTOBER production at the Cuthbert mine on Misima Island, Eastern Papua, is compared with August and September in the following table; —

Papuan Apinaipi Petroleum Co.. Ltd.

The directors of Papuan Apinaipi Petroleum Co.. Ltd., report that expenditure for the year ended June 30 was £30,754. Advances from the Commonwealth Government amounted to £9,244 and interest to £395. leaving a net expenditure of £21,116 to be transferred to development account. Allowing for the Government advance, total expenditure for three years was £66 913.

During the year a new issue of 151,000 shares of 5/- each increased the capital from £62,500 to £lOO,OOO.

Major drilling operations began on March 15, 1940, with plant hired from the Government.

Prom 1,200 ft. to 2.565 ft. cores sent to Can berra for examination revealed the existence of “marker beds’’, which provide valuable infor mation of the geological structure. Traces of light oil and petroliferous gas were met at various depths. In July the drill stem broke, delaying operations until early October.

The field manager reported early in November that after running and cementing casing to the full depth of 2,565 ft. reached in the No. 1 major bore at Oiapu, drilling had been resumed.

On November 11 the depth was 2,769 ft.

Yodda Goldfields. Ltd.

The field manager of Yodda Goldfields, Limited, reports that the gold yield for October was 86 oz. 15 dwt.

From New Guinea

New Guinea Goldfields. Ltd.

THE latest report issued by the Mining Trust, Ltd., consulting engineers for N.G.G., Ltd., compares September production with July and August as follows:

Bulolo Gold Dredging. Ltd.

Bulolo Gold Dredging, Ltd., reports that Sep tember production from the Co.’s dredges in New Guinea compares with July and August as follows: —

Sunshine Gold Development, Ltd.

Sunshine Gold Development, Ltd., reports that the clean-up for October yielded 688 oz. of gold, compared with 587 oz. for September and 881 oz. for August.

Sandy Creek Gold Sluicing, Ltd.

October production at Sandy Creek is com pared with July, August and September as follows: —

The Co. reports a net profit of £11,736 for the year ended April 30. compared with £19,173 in the previous year. Profit was struck after writing off £4,557 for depreciation, brokerage,

Aug. Sept. Oct.

Mill treated, tons .. . . 3.313 3.210 3,340 Bullion, oz 3,162 3 402 3.455 Gold, fine, oz 802 780 802 Silver, fine, oz 2,278 2,538 2,568 Estimated value .. .. £6,487 £6,343 £6.508 Value per ton of ore 39/2 39/6 39 -

July.

Aug.

Sept.

Edie Creek mill— Ore, tons 3,275 3,105 *2,704 Gold, oz., fine . . . . 912 918 845 Silver, oz., fine . . .. 5,218 5,713 4.040 Golden Ridges mill— Tons treated 2,696 2,616 2,420 Gold, oz., fine . . . . 1,115 1,184 1,052 Silver, oz., fine . . . . 1,237 1,350 1,429 Alluvial — Gold, oz., fine .. 1.417 1.335 1,528 Silver, oz., fine . . 1.005 988 1,155 Operating profit— Edie Creek, £ 2,020 2,019 1,537 Golden Ridges. £ 2.309 2,772 2,021 Alluvial. £ 4,798 5,120 6,885 Koranga alluvials. operating profit for quarter ended September 30. £6.895. *Low tonnage due to water entering the Karuka workings.

July.

Aug.

Sept.

Cubic yards .. 1,545,000 1,613,000 1,790,000 Bullion, oz 20,032 22,304 22,574 Gold, fine, oz. . . 13,822 15,389 15,575 Estimated working profit for September, 7.407 oz. of fine gold.

July. Aug. Sept. Oct.

Cubic yards .. .. 16,052 16,530 14.110 21,160 Gold, oz 316 258 243 265 Per cubic yard .. 3/1% 2/6 2/9 2/- Working cost .. . . /10% 1/1 — 1/2 Va

preliminary expenses, and other items. With £7,057 brought forward, £18,794 was available.

A dividend of 2d per share was paid in Feb ruary, and a further dividend of 2d per share is recommended, the two dividends requiring £10,333, leaving £8.460 to be carried forward.

During the year 232,017 cubic yards of material wepe treated for a recovery of 3,422 oz. of gold, which realised £28,469, after deduction of £2,014 gold tax, an average value of 2/5V 2 per cubic yard. The mine working cost averaged 11.4 d per cubic yard (sluicing 9.6 d, royalty and gold realisation expenses I.Bd>.

Tests are being made on the property of 330 acres, comprising Bulolo River flats and terraces over which the Co. recently took an option.

Directors consider that payment of the dividend now recommended will leave the Co. with suf ficient funds to purchase and equip the property if the option is exercised.

From Fiji

Emperor Mines, Ltd.

RESULTS from the Emperor mine, at Tavua, for the past four periods compare as follows:—•

Loloma Gold Mines. Ltd.

Production at the Loloma mine during October is compared with the three previous periods as follows:

Mt. Kasi Mines Ltd.

Latest figures, issued Nov. 6, show that 615 oz. of gold were won during October at the Mt.

Kasi mine, Vanua Levu. Tons treated amounted to 3,104; and the value was £A6,150. During the period the mine was idle four days during machinery overhaul.

All Races Send Help to Britain

WARM praise has been given by the Governor of Fiji and High Commis sioner for the Western Pacific (Sir Harry Luke) to the manner in which the low-wage earners in the Colony of Fiji and in other Pacific territories have con tributed to the various British war funds and appeals.

A carnival, held in Suva a few weeks ago, resulted in £5,000 being telegraphed from Suva to the Red Cross and St.

John's Joint Appeal Fund in London— and Europeans, Fijians, Indians, Chinese and various Islands people joined to gether in the most friendly manner in assisting this carnival. Regular contri butions for the war funds have come in from even the most remote islands where, as Sir Harry expresses it. “food is plenti ful and cash is scarce”.

“The manner in which many of the low wage-earning classes have contributed a day s pay to the various war funds has been remarkable”, says Sir Harry Luke.

Mr. Francis Adoiphus Horne died at Edie Creek. New Guinea, in mid-October at the age of 50 years. He went to the Territory in September, 1935, and was engaged in mining for N.G.G., Ltd.

A new member of the Pacific Islands Society in Sydney is Rev. Richard Piper, general secretary for the Methodist Missionary Society of Australasia, who resided in Fiji for many years.

Aug. Sept. Oct. Oct. 7. 4. 2. 30.

Ore treated, tons 10,367 10.05S 9,899 *11,279 Gold, oz.. fine . , 3,716 3,653 f3,026 14.029 Head value, dwt. . 6.95 7.1 10.75 7.6 Residues, dwt, .. 0.95 1.0 1.1 0.67 *In addition, 256 tons of Customs ore were treated. Practically all oxidised ore treated in last three weeks, tlncluding gold from concentrates.

Aug.

Sept. ♦Oct.

Oct. 7. 4. 2. 30.

Tons, treated .. 2,493 2,527 2,628 2,612 Gold, oz., fine 3,428 3,361 3,419 3.450 Head value, dwt. . 28.83 27.7 27.4 27.22 Residues, dwt. 1.33 1.1 1.38 0.61 A dividend of 1/a share has been declared. payable on December 9.

Price Of Gold

(Australian Official Quotations) Pine Standard oz. oz.

January 1, 1940 .. . £ 10/12/6 £9/14/9% February 5 £ 10/12/9 £9/15/0% March 4 to June 17 . £ 10/13/3 £9/15/5% June 24 to July 7 £ 10/12/6 £ 9/15/0 % July 8 £10/11/- £9/13/5 August 5 to Sept. 14 . £10/12/6 £9/14/9% Sept. 21 to Nov. 2 . £10/14/- £9/16/2 November 9 £10/14/- £9/16/2