NEW DREDGING ENTERPRISE

Dominion, Volume 19, Issue 155, 27 March 1926, Page 10

NEW DREDGING ENTERPRISE

SEARCHING THE CREVICES. HIGH-POWERED SUCTION DREDGE FOR THE SHOTOVER. OPPORTUNITY FOR INVESTORS. Most of us remember the fabulous returns of gold that were won from the Shotover when dredging was at its height, and how fortunes were made almost over night. Will the good old days ever return ? It is stated with confidence by experienced miners that there is more gold left in the Shotover than has ■ ever been taken out of it. Can this gold be raised from its bed in the crevices ? The modern powered suction dredge now enables one to say “Yes.” It is well known that the old-fashion-ed dredge simply scratched the surface. It had neither the power nor the ability to lift the geild where it lay in the largest quantities-—in the crevices. To achieve this a new type of dredge is necessary—one that will work the crevices and draw the gold-bearing material up by suction. This type of dredge is to be installed by the Shotover Consolidated (Limited), a new company that has secured approximately nine miles of claims of the famous Shotover River, and will dredge this wonderfully rich patch with the latest scientific methods and equipment. The company 'already has been registered, and it will commence operations at an early date. The promoters themselves have so much confidence in the enterprise that they have taken up 17,000 £1 shares, and have paid this amount in cash, thus ensuring the flotation of the company Twenty-three thousand £1 shares are now being offered to the public at par, 2s. on application, 2s. on allotment, and the balance in calls not exceeding 2s. per, share at intervals of not less than one month. The company is in no way dependent on the Kawaran scheme, and pays no tribute. As it is anticipated that developments in a certain direction will at an early date place a high premium on the shares intending investors are advised to make immediate application. There is only a limited number of shares available, and as they are being taken up freely applications will dose at any date. It is the most attractive mining proposition that has been offered the public for many a long day. Copies of prospectus, with full particulars, may be obtained from recognised sharebrokers, anv branch of the National Bank of New Zealand, or direct from R. Finch, secretary, Shotover Consolidated (Limited), Thames Street, Oamaru.—A&4