HIGHER LOLOMA RESERVES

Dominion, Volume 34, Issue 82, 31 December 1940, Page 3

HIGHER LOLOMA RESERVES

Emperor Dividend Prospects

Production and development results of Loloma (Fiji) Gold Mines, N.L., for the rear were highly satisfactory, said the chairman, Mr. P. F. Cody, at the annual meeting at Melbourne. Mr. Cody said that shareholders could reasonably look forward to many years of successful production from the held. The combined positive and probable ore reserves, both in tonnage and fine gold content, on September 4, exceeded the relative figures on July 31, 1937, Jefore the beginning of milling, though Ba,lto tons had been extracted for more than four tons of gold bullion, valued at £1 248,591, Australian currency. The belief that before long Emperor Mines, Limited, would resume payment of dividends was expressed by the chairman, Mr. Wallace Smith, at the annual meeting of the company in Melbourne. Mr Smith said that normally a dividend would have been declared in November. but the expansion of operations on the field and accumulations of larger stocks, spares and stores had temporarily reduced the funds available for distribution.