OXENBRIDGE-SHOTOVER

Evening Post, Issue 50, 27 August 1935, Page 12

OXENBRIDGE-SHOTOVER

The directors ol Oxenbridge-Shot-over Gold, Ltd., in presenting the second annual report and statement of accounts for the year ended July 31, report a year of difficulty and misfortune, which seem inseparable from the working of the Shotover River, and also at difficulty in keeping the company financially solvent. ■ The company fully expected to be winning gold by last Christmas, but unforeseen trouble arose in the closing of the Moke Creek dam, and caused a delay of three months.

It was the original intention of. the directors and the company's engineer to work the mouth of Moke Creek, and sufficient plant for this purpose was provided. A wing dam was constructed at the mouth of the Moke, and everything was in readiness to commence a paddock there when a flood in the Shotover on March 29 carried away the wing dam and the beach at the mouth of Moke Creek. Owing to the continued expense incurred, a further debenture issue became necessary, and an additional £610 was added to the debenture issue, making a total of £2110. . As the company had no means of paying wages should gold not be won immediately, the directors entered into a'tribute agreement with Mr. F. L. Weddell, the claim manager, on -a very satisfactory basis. The company is relieved of the payment of working expenses, and is to receive 45 per cent, of the gold won. WORKSOP EXTENDED. The following is ' the Worksop Extended Gold Dredging Co., Ltd.'s, official return for week ending August 24:—Yield, 440z; hours dredged, 135; yards dredged, 9600. MAORI GULLY RETURN. The return of the Maori Gully dredge last week was 70oz 15dwt for 140 i hours. . ,' . *■ GOLDFIELDS DREDGE. Owing to the Shotover River being exceptionally low the Goldfields Dredging Co.'s dredge has 'temporarily ceased • operations. The low river renders it impossible to keep the working face opened out safely, so the continuance of dredging would most likely leave the dredge stranded. Dredging operations will be resumed as soon as the river rises. In the meantime, the staff is working ■ part-time on minor repair work.

WAIPAPA BEACH GOLD DREDGE. A'return for the week ended Thursday of 40oz for 117 hours' dredging is reported :by Waipapa Beach Gold Dredge, Ltd. '