Mining News

From New Guinea

Sandy Creek Gold Sluicing, Ltd.

AT the annual meeting of Sandy Creek Gold Sluicing, Ltd., in Sydney, on September 19, the chairman, Mr. H. B. Jamieson, said that the board was concerned with the probability of in dustrial unrest in New Guinea following the introduction of industrial legislation.

“All our employees,” said Mr. Jamieson, “are experienced men, and under present conditions would be difficult to replace. Some have already indicated that they would rather leave their positions than join the union. Other companies are similarly situated. It is hoped for the future of the NG gold-mining industry that some satisfactory solution will be found.”

Referring to the Upper Watut River property, Mr. Jamieson said that a deposit of £1,200 had been paid, and that a further £B,BOO was pay able when the syndicate proved its title and handed over the transfers. The balance of £7,668 was to be paid in eight equal quarterly payments. This balance was interest free, but was secured by a first mortgage over the pro perty acquired.

Results from the Co.’s workings in September were; —Treated, 38,376 cubic yards for 600 oz.; average value, 2/6 per cubic yard; approx, mine working cost for August, 1/1% per cubic yard.

New Guinea Goldfields, Ltd.

August production from NGG, Ltd.’s., work ings is compared with the two previous months in the following table; —

Bulolo Gold Dredging, Ltd.

Results from the Bulolo dredges for July, August, and September compare as follows:

Sunshine Gold Development, Ltd.

Sunshine Gold Development, Ltd., proposes to make alterations and additions to the articles of association. Proposals include provisions to

facilitate administration of the Co. and the con duct of meetings, and to prevent the postpone ment of a poll for an indefinite period.

An interim dividend of 6d. a share has been declared, payable on October 24.

September clean-up yielded 355 oz. of gold.

This compares with 411 oz. in August, 329 oz. in July, 164 in June, and 207 oz. for May.

From Solomon Islands

THE British Solomon Islands Mining Board reports that 1,011 fine oz. of gold were produced in the Protectorate during the half year ended June 30, 1941.

From Papua

Cuthbert’S Misima Gold Mine, Ltd.

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

Australasian Petroleum Co., Pty., Ltd.

Capital of Australasian Petroleum Co., Pty., Ltd., has been increased to £2,000,000 by the creation of 1,000,000 £1 ordinary shares. It is understood that funds are nearing exhaustion, and new capital will be employed to continue exploration. The Co. was formed in 1938 with a nominal capital of £ 1,000,000, and acquired special permits and properties of Oil Search, Ltd., and Oriomo Oil, Ltd., in New Guinea and Papua respectively.

Papuan Apinaipi Petroleum Co., Ltd.

The Papuan Apinaipi Petroleum Co., Ltd., re ports that the new issue of 160,600 shares of 5/- each has been partly subscribed, and that negotiations are in progress which may ensure the issue being fully subscribed. The depth of No. 3 Northern well at Oiapu is now 1,700 feet, and drilling is being continued in grey shale.

From Fiji

AT the request of the Fiji Government, gold mining companies in the Colony have dis continued publication of production returns.

Reports of developmental work, and other items of interest, such as dividends, etc., will continue to appear in these columns.

Emperor Gold Mines, Ltd.

Directors of Emperor Gold Mines, Ltd., have declared a dividend of 6d. a share, payable on October 31. Books closed October 6.

June.

July.

Aug.

Golden Ridges mill — Tons treated 2,575 2,281 2,071 Gold, oz., fine .. 678 771 705 Silver, oz., fine . .. 825 1,242 858 Alluvial — Gold, oz., fine .. 1,284 1,686 2,231 Silver, oz., fine . .. 843 1,216 1,526 Operating profit— Edie Creek, £ . ♦1,639 ♦1,484 ♦1,003 Golden Ridges, £ . . 944 996 929 Alluvial, £ 2,821 7,541 10,387 ♦Loss.

July. Aug. Sept.

Cubic yards . . 1,524,000 1,634,000 1,492,000 Bullion, oz 18,685 18,255 18,305 Gold, fine oz 12,892 12,594 12,630 Estimated working profit for August, 7,128 oz., and September, 7,144 oz. of fine gold.

July.

Aug.

Sept.

Mill, tons treated .. 3,472 3,528 3,402 Gold, fine oz 842 883 855 Silver, fine oz 2.490 2,804 3,437 Estimated value £6,790 £7,145 £6,966 Value per ton of ore . 39/1 40/6 40/11