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Increased Profit By NorsemanGold Mines, N.L.Pyrites Industry ExpandingThe net profit of £37,136 by Norseman Gold Mines, NL, reflects the continued expansion of the pyrite industry. This is compared with £20,775 for the previous year.Fifty Years Hence“It may be rasn to attempt a prophecy, but I doubt if those who 50 vears hence find themselves walking round an exhibition anywhere on the banks of the Thames will be seeing a more remarkable di.-plav ih.u, they can see now in their vouth/' snvs Coinpton MackenzieThe directors are pleased to report and advise shareholders, that after extended negotiations, the WA Govt, had relieved the company of an old debt of £24,392 to the Railways Dept, in consideration of the company’s acceptance of the responsibility of up to 25 p.c. of any ultimate loss that may be disclosed in the final accounting for the housing scheme now in progress in Norseman. geologist Mr. h. j. c. con-Accordingly an amount of£24,392 has been transferreu to a special reserve for that purpose.An extensive pyrite development program is at present under investigation. During last year the board sent Mr. P. A. Charsley. general manager to the USA to study the latest methods of mining pyritic ore. The value of Mr. Charsley’s trip was already in evidence.• The company’s consultingnolly visited the mine tw.cc during the financial ytar »o study and advise regarding lb? '-eology of the mine.The gold developme'.tRianned on the company j olding had been delayed owing to the necessity of concentrating on pyrite production in order to overtake us far as possible the extreme shortage of sulphur.However the directors stale that the gold development will lie resumed at the earliest possible’ opportunity.rtecteeRlt;me*dertheW1 are i sever have deca:
Newspaper Details
Coolgardie Miner
Coolgardie, Western Australia, AU
Thu, Feb 14, 1952
Page 3
Full Page
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GB 01 Sep 2022
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