KOMATA REEFS HOLDINGS

Evening Post, Issue 66, 15 September 1936, Page 12

KOMATA REEFS HOLDINGS

(Special to the "Eveninfl Post.") LONDON, August 26. The report of the Komata Reefs Gold Mining Company to March 31 shows a profit Of £6246 (against £5461). plus £588 brought in; to income tax £927 (£671), final dividend 3d per share, making 25 per cent, tax free, payable September 12: £587 is the sum remainins to be carried forward. The directors state that investments continue to be principally in shares of producing dividend paying companies. There has been little opportunity for speculative investments for capital appreciation. North Kalgurli (1912), in which company the Komata Reefs has a large holding, paid dividends amounting to 62J per cent, for last year, and output and profits have been increased during the present year. Ore reserves assure a long life. Holding in shares of North Kalgurli was therefore considerably increased during the year. Investment in Kentan Gold Areas was increased at recent issue of shares. It is stated this company will begin production on a large scale at the end of next year. Other investments are in tin shares, all of which are producing and dividend paying. The company has holdings in Tanganyika Concessions, Boulder Perseverance, South Kalgurli. Waihi Investments, Martha Gold Mining (Waihi), Imoerial Mining, Gold Exploration, and Finance Company of Australia. BULOLO GOLD DEPOSITS OPTION. The directors of Bulolo Gold Deposits, Ltd., report that the company has taken an option over a large potential dredging area situated at Graytown, Victoria, and arrangements will be made at an early date to carry out preliminary testing operations. Should results be satisfactory, negotiations will be entered into for the disnosal of the area. Advice from the New Guinea property of the company states that 13,000 cubic yards wash was treated during 445 working hours for a recovery of 20702 gold. ARGO GOLD. Argo Gold Dredging Company, Limited's official return for the week ended September .12 is as follows:—Yield, 98oz; hours dredged, 130; yardage treated, 13,500. NEMONA PROGRESS. The Nemona dredge has just worked through a narrow spur, below the dam, in poor going, with a rising bottom. As the dredge passes through this spur it goes into an area of twenty acres recently taken up below the original claim. The company intends to bore this ground ahead of the dredge simultaneously with the dredge working into position. The machinery is working satisfactorily. OKARITO. RETURN. The Okarito dredge reports a return of 260z 2dwt for 126 hours' work.