Sandy Creek Is Sluicing
p. 111 · Read in the full issue
Again
EXTENSIVE repairs, alterations and im provements to its race line allowed Sandy Creek Gold Sluicing, Ltd., to resume sluicing operations on the com pany’s Watut property, in New Guinea, on November 16. Uninterrupted sluicing, to December 2, produced 146 ounces of gold, out of 5,480 cubic yards of material.
In the year ended March 31 last, this company made a loss of £2,100 —the result mainly of its water supply being either interrupted or cut off for long periods.
This was the result of lack of mainten ance during the war. The outfit appears now to be in good order, and better things
are hoped for. The company gets revenue from its own sluicing operations and from a tributer who has its Sandy Creek property. The original subscribed capital of the company was £77,500, with a general reserve of £21,512; but this has been written down substantially as the re sult of a revaluation of the Sandy Creek property, and the shareholders’ funds now total £32,456. The Directors are Messrs.
H. G. Hyde (chairman) J. W. Hinks and A. J. Smeaton.