BULOLO GOLD

New Zealand Herald, Volume LXXVII, Issue 23850, 28 December 1940, Page 3

BULOLO GOLD

NEW PRODUCTION RECORD EIGHT DREDGES OPERATING The results of Bulolo Gold Dredging, 3>itnitc*< 1 (New Guinea), for the year, ended May •' 1, 11)10, eclipsed the record production figures of 1939. Fine gold won totalled 185,0160z., against 158,9700z, in the previous year, and silver produced was 8L5070z., against 67,9390z. The yardage treated was 18,353.000, compared with 14,688,000, and the average worked out at 4.862gr. fine gold a yard, equal to 25.5 d, Australian, compared with 5.221gr. in the previous year. The average includes silver values converted into gold. Eight dredges were in operation. Approximately 4312 tons of machinery and supplies were air-transported to the' property from Lac, thus making 34,020 short tons carried by the company's aeroplanes to May 31, 1940. The new 2800 horse-power hydro-electric power plant lias been completed. The profit rose to 4,800,408 Canadian dollars, approximately £1,373,259, Australian, against £1,106,881, Australian, in the previous year. Details were published on November 11. Production for November was 19.2860z. bullion, containing 13,3080z. fine gold front 1,677,000yd5. The estimated working profit was G5380z. line gold. During the period, several dredges were operating in ground carrying low values.