Mining News

From New Guinea

Bulolo Gold Dredging, Ltd.

TY ESULTS from the Bulolo dredges for May, AV June and July compare as follows:

New Guinea Goldfields, Ltd.

July production from NGG, Ltd.’s., workings s hß co ®f ared Y ith the two P re vious months in the following table:—

Sandy Creek Gold Sluicing, Ltd.

Directors of Sandy Creek Gold Sluicing, Ltd. have declared a dividend of 2d. a share, payable on September 19. Books closed September 5 The mine manager reports that during August 23,419 cubic yards were treated for 402 oz of gold. Average value was 2/8y 2 per cubic y'ard.

Approximate working cost for July was 8 3 / 4 d per cubic yard.

Sunshine Gold Development, Ltd.

Sunshine Gold Development, Ltd., reports that August clean-up yielded 411 oz. of gold. This compares with 329 oz. in July, 164 oz. in June and 207 oz. for May.

From Fiji

Mount Kasi Mines, Ltd.

pROFIT production, etc., from the Mount Kasi A mine on Vanua Levu for 1940, is compared with the two previous years in the following table;—

Cubic yards May. 1,659.000 June. 1,567,000 July. 1,524,000 Bullion, oz. 22,054 20,388 18,685 Gold, fine oz, 15,217 14,067 12,892 7,545 oz.

Estimated of fine gold. working profit for July,

Golden Ridges mill— May.

June.

July.

Tons treated .. . 2,575 2,281 Gold, oz., fine .. 678 771 Silver, oz., fine .

Alluvial— — 825 1,242 Gold, oz., fine .. 1,275 1,284 1,686 Silver, oz., fine .

Operating profit— 820 843 1,216 Edie Creek, £ . *2,098 *1,639 * ! 1,484 Golden Ridges, £ . *1,563 944 996 Alluvial, £ . .. . *Loss. 3,026 2,821 7,541 There was no output from the Edie Creek mill during the period from April to , July.

1938. 1939. 1940. £F. £F. £F.

Net profit 11,648 14,130 15,966 Div — /3 /6 Div. amt — 4,379 8,758 Forward 13,588 — 7,208 To res — 23,339 Devel 3,478 6,342 8,241 Deprec 4,044 4,146 4,007 Crude ore, tons .. 38,420 39,434 43,847 Fine gold, oz 8,362 8,695 8,814 In the four weeks ended August 13 (1941), 3,089 tons were treated for 549 valued at £5,490. oz. fine gold,

Loloma (Fiji) Gold Mines, Ltd.

Loloma (Fiji) Gold Mines, Ltd., has declared a dividend of 1 - a share, payable September 8.

This dividend, the Co.’s 14th, is for the final quarter, making 4 - a share for the year ended June 30, compared with a total of 6/- a share in the previous year. Production for the finan cial year was 45,124 fine oz. from 33,308 tons, compared with 48,006 fine oz. from 33,342 tons in the previous year.

Production for the period ended September 4 is compared with the three previous yields in the following table: —

Emperor Mines, Ltd.

Production at the Emperor mine at Tavua, Viti Levu, during the past three months com pares as follows: —

In a report issued on September 8, the Co. states that development at the No. 6 level is encouraging, as shattered zone formation now appears extending further south than originally anticipated. Consideration is being given to connecting the No. 6 level with Loloma No. 4 level —they are practically on the same ele vation.

From Papua

Cl'thbert’S Misima Gold Mine, Ltd.

A REPORT from Cuthbert’s Misima Gold Mine, Ltd,, compares the figures for August with the two previous months as follows:

Papuan Apinaipi Petroleum Co., Ltd.

Directors of Papuan Apinaipi Petroleum Co., Ltd., have decided to issue a further 160,600 shares of 5/- each, making the total shares issued 561,600 and increasing subscribed capital from £100,250 to £140,400. Shares will be offered in the ratio of two for every five held, without regard to fractional interest. Terms are 6d. per share on application, 6d. on allot ment, and the balance when required in calls ■not exceeding 6d. per month. Applications close on September 22. Additional capital is required, the directors point out, so that the possibilities of the permit area in Papua can be fully ex plored by continued and extended drilling opera tions. The Commonwealth Government will make advances up to £20,000 as the work pro

ceeds. in addition to previous advances of £30,000 and hire of the major drilling plant.

A report issued at the end of August stated that the No. 2 major well at Oiapu had reached a depth of 2,040 ft. Work is being continued on the No. 3 northern well, where casing has been inserted, and on September 8 was reported to have reached a depth of 1,293 ft.

Yodda Goldfields, Ltd.

Yodda Goldfields, Ltd., reports that produc tion for August was 127 oz. of gold, compared with 106 oz. 18 dwt. for July.

Mandated Alluvials, Nl.

In a report issued early this month, directors of Mandated Alluvials, NL, stated that during the four months ended July 31, 162 tons of matte were produced, containing about 630 oz. gold, 1,920 oz. silver, and 23 tons copper. Con siderable quantities of ore have been mined from re-opened areas. Assays over 100 feet averaged more than 1 oz. gold per ton. In this area, there are indications that at least a further 1,000 tons of stone will be obtained. Other areas appear to be promising.

June 11 July 9 Aug. 6 Sept. 4 Ore, tons . . . . 2,650 2,630 2,660 2,576 Head val., dwt. 25.6 25.54 25.97 26.01 Gold, fine oz. . 3.226 3,253 3.281 3,196 Residue, dwt. .. 0.95 0.8 1.3 1.2

July 9 Aug. 6 Sept. 4 Crushed, tons .. 12,858 12,097 10,168 Head, value, dwt. . 5.8 6.2 10.9 Yield, oz 4.003 2,996 4,005 Residues, dwt 1.2 1.2 0.8

June. July. Aug.

Mill, tons treated .. .. 3,317 3.472 3.528 Gold, fine oz 789 842 883 Silver, fine oz 2.804 2,490 2,804 Estimated value .. .. £6,434 £6,790 £7,145 Value per ton of ore . 38/9 39/1 40/6