DREDGE FOR THE SHOTOVER.

Press, Volume LXII, Issue 18635, 9 March 1926, Page 10

DREDGE FOR THE SHOTOVER.

■ ♦ . ' I The Golden Terrace Extended Gold Dredging Co., Ltd.. is now being formed to operate a dredging claim on the famous Shotover river—a river famous-in the gold annals of this Dominion for the large amounts of gold won from its banks by primitive methods in the years gone by. In the prospectus of the -proposed company the annual gross earnings of the company are estimated at £64,800. This figure is based on the returns of an old dredge that prospected the claim in 1898. .During its limited period of workirig, the oid dredge impartially worked over the claim from end to end, and though the total area worked was only 71 acres, £6785 worth-of gold was secured in 275 actual working days. The new dredge will have nine times the capacity of the old 1898 dredge, and will be operated at one-third the cost. The proposed company will have a dredging claim 3} miles long, and covering about 405 acres. The company's operations are in no way affected by or dependent on the Kawarau scheme, and as soon as the dredge is erected earning will commences Elsewhere in this issue appears the abridged prospectus of the proposed company.