£8 Million From Theodore's Mines
p. 15 · Read in the full issue
Theodore's Mines
ACCOUNTS for the two big Fiji gold mines, Emperor and Loloma, for the year ending June 30 and July 31 re spectively, are expected to show that about £720,000 worth of gold was taken out of the Vatukoula hills in the past year.
In the 11 years since gold production began about £8 million pounds worth of gold has been won.
In the year 1944-45. Emperor made £81,761 profit on over 31,000 ounces of gold.
This year, profit is expected to be double that figure.
In the same period, Loloma earned £65,292 for distribution to shareholders, but profit for this year is expected to be about £150,000. Ore treated this year has been much richer, although operating costs (iB6/4 a ton) are still much higher than Emperor’s operating costs of 29/3 per ton.