Sandy Creek Begins In A

Small Way

THE 12th annual report of the Directors of Sandy Creek Gold Sluicing Limited shows much the same state of affairs as is general to all New Guinea gold mining companies. Re habilitation of properties to the point where production can be resumed is slow, being hampered by lack of native labour and essential equipment for repairs, and lack of shipping from Australia.

Although the report deals only with financial affairs up to March 31, 1947, it states that between the end of the financial year and the meeting, on Oc tober 15, operations had begun in a very small way on the Sandy Creek property and that one small clean-up had been made in September, when 68 ounces of gold was recovered from approximately 2,300 yards of gravel.

Rehabilitation has been slower and more difficult on the company’s Watut property, chiefly owing to lack of road and air transport. Planes are now land ing at Slate Creek, however, which is only three miles from the Watut property, and a motor road has been constructed from the drome to within one mile of the workings. It was hoped that gold recovery would commence before the end of October. A sawmill has been installed in this area and this had played a big part in rehabilitation.

The company has an issued capital of £77,500 and a special reserve of £24,856.

It owes £8,686 to creditors, and has £16,220 cash on hand, so it is nicely placed for resumption of operations. Its few administrative costs during the year were covered by £238 received from in vestments.