ANOTHER BID TO WIN GOLD FROM SHOTOVER

Press, Volume XCIII, Issue 27993, 13 June 1956, Page 14

ANOTHER BID TO WIN GOLD FROM SHOTOVER

A company which intends to mine for gold in the Kawarau and Shotover river-beds is being floated in Christchurch. The company is seeking to raise £lO,OOO capital in Is ordinary shares.

The company intends to purchase from Shotover Kawarau Consolidated Ltd., 20 tribute leases or mining claims on the Kawarau river, near Queenstown, and to mine for gold “after the dewatering of the necessary portions of the Kawarau and Shotover rivers has been achieved.”

The prospectus says that the two rivers have yielded fabulous stores of gold in all those portions where miners have been able to work. “There has never been any doubt in the mindq of experienced miners that the unworked stretches of these rivers contain rich deposits. The only problem has been how the deposits could be laid bare. The original scheme to dam the Kawarau river at its source was unsuccessful because of the volume of water flowing into it from its tributary, the Shotover. “The present scheme should com-

plete the control of the Shotover and Kawarau rivers and realise the dream of miners for more than 90 years—the almost complete dewatering of these rivers. Construction work on the first dam is well advanced and costs to date are under the estimate.” Provisional directors are Messrs R. H. England. L. A. Bodger. J. L. Willis, and G. J. Kane, all of Christchurch.