Itogon dividend
Media
Part of The Marsman Magazine
- Title
- Itogon dividend
- Language
- English
- Year
- 1940
- Rights
-
- Fulltext
- UNITED PARACALE MINING COMPANY June gold production at United Paracale amounted to P275,277.98 from the treatment of 10,974 tons, average recovery being P25.08 per ton. Extraction was 89.07%. The total development footage was 951 : 649 feet of capital and 302 feet of operating advance. Of the capital advance, 44 feet were in ore, as were 166 feet of the operating development. The 204 Drift North, Longos 200 Level, was started from 127 North Crosscut West and advanced 10 feet along the vein, 3.5 feet wide, giving high average ore. The San Antonio Counter Shaft was sunk 10 feet to a total depth of 106 feet below the 200 Level. The Longos Shaft No. 3 was sunk 31 feet to a total depth of 51 feet below the 400 Level. The Malaguit Shaft, Malaguit Surface, was started and sunk 21 feet. The 301 Drift South was advanced eleven feet along the vein 7.8 feet wide, assaying better than average ore. North Camarines-United Paracale The total development advance during the month amounted to 186.5 feet of which 137 feet were in capital development. The 478 Drift North, Syndicato Level 013, was started from the 471 Stope Raise and advanced 22 feet along the vein 2.2 feet wide. The 478 Drift South was started and advanced 21.5 feet along the vein 2 feet wide, averaging high grade ore. A total of 1,446.2 dry tons were milled containing an average of .3650 ounces of gold and 1.2107 ounces of silver per ton. General: The employees' recreation hall is half completed. The last of 40 new houses in the barrio has been completed. All departments functioned in a normal manner throughout the month. 4 SAN MAURICIO MINING COMPANY Total production for June at San Mauricio was P491,990.32, from the treatment of 14,102 tons. Extraction was 94.37 ro' with average recovery of P34.89. Development footage equalled 2,024, of which 1,577 feet were in capital, and 447 in operating advance. Of the capital advance, 315 feet were in ore, as were 155 feet of the operating advance. The North Drift on the Spokane Vein, 300 Level, was advanced 90 feet in ore. The North Drift on the 2525 Vein, 400 Level was driven 103 feet in somewhat better than average ore. In the Santa Ana Mine, the North Drift on the 340 Vein 150 Level, was driven 67 feet in high grade ore. The South Drift on the 340 Vein, 150 Level was driven four feet in high grade ore. Diamond drilling has indicated ore on the Turayog No. 3 Vein which was cut at 400 feet below the surface. Development will be started within a short time. Work is proceeding with the Traylor ball mill installation and ore bin construction at the mill. The recreation building is almost completed, as is the painting of the 8000-ton oil tank. Timber treatment plant has been completed in addition to fresh water supply tank. ITOGON DIVIDEND The ltogon Mining Company declared a cash dividend of 10 per cent, payable on J ul'y 10 to shareholders of record on June 29th. The dividend, amounting to P250,000, will be the first paid this year by the company, which paid P.04 per share or Pl,000,000 in 1939. THE MARSMAN MAGAZINE for July, 1940