Excerpt from The South African Mining Journal, Vol. 27: With Which Is Incorporated the South African Mines, Commerce and Industries; Part I; Oct. 27, 1917
IN a report dated June 28, 1917, to the chairman and directors of the Consolidated Main Reef Mines, Mr. D. Wilkinson writ-es: - In accordance with your request, I have made an estimate of the value to your company of the whole of the assets of the Main Reef West, Ltd. Profit Value of Ore in Sight, and Probable. - The lowest level on which any development has been done is the 16th. This level, and the 15th, are only partially driven, and in estimating the probable payable tonnage from the 14th to the 16th, a percentage of payability and the assay value of this percentage has been determined from the data avail able o'n the 12th, 13th and 14th levels. So far as the 15th and 16th levels have been driven, they fully support the above assumption. The value of the profits from the ore in sight, and the probable ore to the 16th level, to the Consolidated Main Reef, is which, obtained over a period of three years on a 7 'per cent. Interest and 3 per cent. Amortisation fund basis, has a present value of after deduction of profits tax and war levy. Value of Buildings owned jointly by the Consolidated Main Reef and the Main Reef West - 1 estimate the Main Reef \vest portion of the buildings, etc., that are now owned and used by the two companies jointly, and are necessary to the Consolidated Main Reef, to have a' present value to the Consolidated Main Reef of Cyanide Plant - The cyanide plant of the Consolidated Main Reef is at present too small to treat in a fully satisfactory manner tons per month of the grade supplied by this mine. In order to give more elasticity as regards the tonnage to be treated, and to obtain satisfactory residues, it would be necessary to spend, some three years hence, a' sum which I estimate to have a present value of I estimate that a saving of at least 4d. A ton could be made by this increase in the cyanide plant. Break-iip Price of Remainder of Main Reef West Plant - It is estimated that this could be sold, three years hence, at thus having a present value of Gold in Plant - The estimated value of the gold in the reduction plant is Assuming that this would be realised at the end of three years, its present value, on a 7 per cent. And'3 per cent. Basis, is Shareholdings. - These consist of Victoria Falls and Transvaal Power Company preference shares, having a book value of their present market value is a little greater. Sundry shares in Witwatersrand Native Labour Association, Native Recruiting Corporation, etc, Value of Plantation, say Cash in Hand, May omitting debenture interest from March 31st.
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