Loloma Profit Slows Up
p. 116 · Read in the full issue
TO June 30, 1953, results from Loloma Gold Mines were lower than in the previous year; but its companion.
Emperor Gold Mining: Co., improved.
Profit of Loloma fell by £13,405 to £ 176,687, while Emperor earned £91,90S 3 against £89,820 last year, Loloma paid dividends totalling 1/9 a share, absorbed only £73,188, during the year, compared with a payout of 27in 1951-52. A further 1/- has been de clared since the close of accounts.
High grade sections of ore in the Loloma mine, worked in recent years, are almost depleted, directors report.
In future they will not be available to improve the yield from low grade ore which will now form the major part of production.
Emperor ore reserves are almost un changed at 850,000 tons, averaging 7.9dwt. a ton.