Show I CON Mf REPORT tr i I IS OUT I Company Made Net Earnings During the Year Amounting i ti t To j I t PAID IN DIVIDENDS f t f 4 1111 in I I nf ut OUT J r l 1 os of ur t rt Were cre f The report relt of ot tite rs of ot the tho Consolidated Gold iod Mines thes WM wu w late lal Sit Sat Saturday urda and nd covert tb the Ibe opera of oC that flint company during the yr June Jane to O last It t tf f According to 10 the financial UIO net earnings s amounted ti tl t a g 1 J j of ot a out oUI of ot which I was wi paid paki J j joo In Jn quarterly dividends and 34 V vi B expended In lion lending nearly riy to 10 be tie added lidded to tho the surplus which amounted to at it the clos lIo e or of the tho year eur The gross gro value lIlue of ot the oro ore wan I Th per ton 1011 und the Ih operating crts cots were ere U 48 per ton le of oC run ron Item A t comparison oll with J I the previous years ear record shows that j I costs ol have hae ten lIMn reduced about ut lucent per Ier er ton tori J the he I year r a total tott of oC OSO I ton tofu of ot orp WON was mined and linel j making an average of or io tons lOlls a m Of or IhU torn toni or 41 n 4 per cent I f was sM base bOPP or ore while ton lor tore wa wrt 01 ore A table lable holla t the tha values In lulling h by months In Into two to different month hew were vero held heldI I down to 9 M 61 c for the I ho year r I In ia our OUt experimental plant nays las ay I Manager Goo Oco II 11 In bin hix state statement I ment we wo hine hu the well I known proves el In which I tho the solution Is hi recovered Train from the ore by IJ 1 repeated repealed crt IlIo s and 11 Wo We e BUl t In quite extrac extraction 1 Hon tion by b thIs thin means but bitt we have liae found that the pulp 1 does docs not settle nettle HO o well ell as ilS was WIS as expected In iii consequence of ot which the final tailings entry carry such och a n law large III c ci i I percentage of moisture that lint n a prohibitive tive Ih asle walle of ot water waler In lii entailed l There III In not hot water Wilier enough h In Mercur to treat our nor L bv Lv tho meth moth J od uti We nrc ne obliged to 10 set elt setout e lt I out a satisfactory tutoring filtering and ond ande wo e C strong hopes of ot finding t tie lie lieI vc I that will Ili do the work cheaply the year r Just JURI closed clo ed nearly f went over ocr the dump In the tall tait 1 Ings Inge Of Ot this amount wan soluble gold most of or which could be recovered with Improved methods The problem of ot doing tills this without greatly Increasing Inden lol pence pences Is what we e are ore working on IIII I and It warrants thorough in ta investigation The Tho first firM lefts were In the labor labora r tor tory lory Then a II plant ilant capable t f hand handling f ling hug a few Cell hundred of or ore are WItS WM erected rind mid a n long Icing series cones of ot very er 1 thorough experiments wern earned on all therein The Tue results were uniformly encouraging but before embarking upon any an new Je change of pro or meth methods JI it mined desirably to 10 experiment ur on Oil a ft larger scale ecale I J re rl authority from Irom from the LoaN board of or di dl director rector who Iio ho were fully tull In forme I of ot the results already obtained to 10 expend up to 10 in the I hI construction con of an on experimental plant of to 10 what sort sott of or multi could be expected on n B s le If Such Hueh a n plant was erected eret t ot Dt t It cost colt of ot as all I Ii shown under construction tion lion Items on the Ibe financial Although our experiment have not lot been heen and the Inn ha hu his not hot yet t come to 10 make recommendations as all asIt lo It II new methods yet jet 0 I 1 may stole State that We Me hurt have proven proun conclusively IHly that It II ought lucht to be lie possible po to 10 ft et tailings average between LOo and GOc GOe Instead of ot e os DI n they averaged for tor the past year yar On the whole the report l is III consid considered ered erod a n satisfactory one JIll and ami received favorable comment during the day lIa |