MOLYNEUX DREDGE

Evening Star, Issue 23048, 29 August 1938, Page 8

MOLYNEUX DREDGE

TO WORK FAMOUS CLAIM HARTLEY AND RILEY AREA TO BE TESTED ROCKY BARRIER BARRING PROGRESS When the Molyneux River rises sufficiently to allow passage over a rocky barrier at present barring progress, the Molyneux Gold Dredging Company’s dredge will very probably move upstream to the old Hartley and Riley claim. Although five or six miles from tho present position of the dredge, the claim is expected to yield rich returns, despite the large recoveries around the turn of the century. The low level of the river brought to view just ahead a dangerous rocky barrier which, despite blasting operations, is still impassable. The master of the Molyneux dredge, Mr Chapman, told a ‘ Star ’ reporter that the blasting was of no avail, and they would have to await the pleasure of the river. It was not expected that it would rise sufficiently for several weeks yet. As soon as progress can be made, however, the dredge will be taken upstream to the top end of the company’s claim, which includes the old Hartley and Riley claim in the Cromwell Gorge. Probably the most renowned of Otago’s old companies, it earned profits unprecedented in the province’s dredging history. In the first three years alone the concern returned £8 12s 6d a £1 share, while the stock eventually rose to transactions as high as £25. A dividend a month was its custom during the height of its success, while the first year’s returns totalled 9,6960 z, or an average of 186 oz a week. Since the construction of the Clutha and Molyneux Companies’ dredges there has been considerable speculation in mining and investment circles as to whether they would repeat earlier successes, for it is hoped that with the longer bucket chain the dredges will be able to reach virgin depths and recover payable quantities from the bed of tho Molyneux, long conceded to be one of the richest rivers in tho world. NO FALSE BOTTOM. Dredging men with Molyneux experience debunked the theory that tho river had a false bottom. The theory began when a man came on board the Hartley and Riley dredge to work the graveyard shift, when he had drunk well but not wisely. Not having proper control over himself, he began work by letting the ladder go with a jerk. The blow given by the ladder broke through a hard cement bottom from 20ft to 40ft below the water, and before long gold in rich quantities was being brought up. “ Those small dredges worked any false bottom there was as hard as they could,” said a dredgemaster on Saturday, “ and if there was any left the Clutha and Molyneux dredges are taking it in their stride.” What size Molyneux returns will be when the dredge comes on to the Hartley and Riley claim is in doubt. It is very hard to tell what the _ prospects will be, as the depth and richness of the river vary so much; but if gold is there this 1,200-ton dredge will get it, treating, as she does, as much material in a month as did the old-time dredges in a year.