MINING NEWS.

Auckland Star, Volume LXX, Issue 120, 24 May 1939, Page 8

MINING NEWS.

PLACER DEVELOPMENT, LTD.

IXTBRIAT DIYIDEXD. Cabled advice has been received that the directors of Pato Consolidated Gold Dred?injr, Ltd., have declared an Interim dividend Xo. 1 of 10 cents Canadian per fullv paid share, pavable on June 20. 193fi. to shareholders registered in the book* of th« company at close of business on May 29, 1939.

MOUNT IKASI PROFIT, £11=647Mount Kasi Mines. Limited (Fiji), showed a n.-t proflf of £11.647 for tie year v\m]>a December 31, 1935. compared Willi tWUfI f'-r-3!•."■.". and .1 loss of £2793 for I!>3<; Thi" fiirnres r.re expressed in Fiji ourri-ni-y. The profit has been reinvested in the mine. 'Hi- rr.-iilt w;is obtained after writing off !.').n-i:iii> nt; -tot 1. against £3741 in 1 ■>:•:. ii'n] development £3479. against ti::."i«-. .111.1 allowing 4:620 for taxation. Willi L'V.HO brought forward, the credit li.-iaiiff is £ 13.r.57. Ilrsults for the year, with those of the previous year in parenthesis, are as folI,.ws :—Ore treatPd, 35.420 (3.>.232) tons; value a ton. r>.o<". <lwt; recovery, SriiiU (7407) fino ounces: residues, .71 (.9) <lwt; working costs. 21/'J.25d (24/2.75 d) a ton. A now power unit is lifinjr installed, and will overcome the short acre of power which has hampereil operations. Results of devrOnpmi-nt are doscriborl as disappointing on the whole. Although some patches of payable ore were wicmintoretf, there iras a general lack of continuity.

FIJI OPERATIONS. I.oloma fFijH.—22lfr Irvel : Main sontb drive ndvanood to lf'73ft; avorape value last 2Hft was 11.1.1wt a t..n iivrr a width of 7f>in. Work has ber>n stopped temporarily. drive was stripjicl and timbered for loft making a total of 102& ft.

MANAGER'S REPORT. Mount Lyell (Tasmania).—Fortnight ended May 10 :—Mines, tons extracted: North Lyell. 2201; Crown Lvell. 2504; West Lyell, 34,750; Lyell Comstock. 3621. Reduction works: Furnace in blast full period; 7285 tons refinerv anodes made for current year. Concentrator: Mill operated 336 hours and treated 42 535 tons ore, producing 20RG tons concentrates. Copper refinery: Tank house in operation throughout fortnight: 546 tons eopprr produced for period. Total for current year, 7547 tons.

YIELDS OF COMPANIES. Bulolo (Now Guinea I.—For April the total gross production amounted tn 15.526 ounces of bullion containing 10.7130z of fine sold from 1.177.'i0n cubic yards. Estimated working profit, msr.r.z nf fine gold. The above production i< equivalent to £93.739. and working profit to £54.127, on the b;uis of £S 15/ (Australian) a fine, ounce of cold. Two rlr>-.lj:e.s were in low grade ground that had to be dredged as reached.

Mataki Dradiinsr (Mur« , l>i»on). —Dredging operations ceased r.:i May 13 for the purpose of replacing the ladder and the installation of new ilrivini; plant. It is anticipated that dredsin? will recommence about Saturday.

Bulolo.—For month of April the total ?ross production ammnitr-.l to 15.52Cn* of bullion containing: IO.TISoz of fine sold from 1,177.000 cubic yard!!. Estimated working profit 61SC"Z of nne gold. The above production is eguivaleni to £93.739, and working profit to *. 54.127 on the basis of £S I."i< (Australian i per fine ounce of gold. Two <irecls;e.s wen: in low crade grounfl that had to be drfdfp.Hl as reached.