Page 8 Advertisements Column 1

New Zealand Herald, Volume LXXIV, Issue 22643, 3 February 1937, Page 8

Passed by the Cnnstcnurcn stock Exchange on the 21st of January, 1937. DATED the 27th day of January, 1937. A copy of this Prospectus has been duly filed with the Registrar of Companies at Wellington on the 27th day of January, 1937. All monetary figures are expressed in New Zealand Currency. PROSPECTUS RIVER DRED

LIMITED XA Company limited by Shares and incorporated under "The Companies Act, 1933.") CAPITAL - - £300,000 Divided into 600,000 Shares of 10/- each 800,000 Shares credited as fully paid up are to be allotted to The Rimu Gold Dredging Company Limited or its nominees in payment of the rights being acquired from that Company and the expenses of investigating, prospecting and drilling. The Rimu Company has agreed not to sell these shares in New Zealand or Australia prior to Ist January, 1939. §OO,OOO Shares will be dealt witli as follows :—> (a) 120,000 Shares will be subscribed for and paid for in cash by The Rimu Gold Dredging Company Limited. iapplication, 1/3 per share on allotment and the balance in calls as required, but not exceeding 1/3 per call at intervals of not less than two months. All these Shares have been underwritten by members of the Stock Exchanges iaffiliated with the Stock Exchange Association of New Zealand. f(c) 30,000 Shares will in the meantime be held in reserve. These shares will be under the control of the Directors and will be issued as and required but will not be issued without first being offered to the members of the Company in proportion to the existing shares held by them at a price to be determined by the Directors. DIRECTORS: New York: SAM A. LEWISOHN E. H. WESTLAKE J. G. GREENBURGH EDGAR L. ROSSIN of address 61 Broadway, New York. New Zealand: A. K. S. MACKENZIE D. G. JOHNSTON both of Wellington. WALTER J. RADFORD of Hokitika. all of whom are Directors of The Rimu Gold Dredging Company Limited of Hokitika, New Zealand. Registered Office: Accountants Chambers, 39 Johnston Street, Wellington. Bankers: THE NATIONAL BANK OF NEW ZEALAND LTD. Solicitors: BELL, GULLY, MACKENZIE and EVANS 104 Featherston Street, Wellington. PAKK and MURDOCH Hokitika Auditors: CLARKE, MENZIES, GRIFFIN & CO. Public Accountants 102 Featherston Street, Wellington Secretary: DONALD GORDON JOHNSTON Public Accountant Johnston Street, Wellington General Manager for New Zealand: WALTER JAMES RADFORD of Hokitika, New Zealand General Manager of The Rimu Gold Dredging Co. Ltd. Application for shares may be made to any member of any Stock Exchange affiliated with the Stock Exchange Association of New Zealand.

SUPERVISION AND MANAGEMENT r The Company will ha.ve the advantage of the supervision and management of a Board of Directors who are also Directors of The Rimu Gold Dredging: Company Limited, which is one of the successful gold dredging companies operating in New Zealand. The Company will also have the advantage of the technical experience of the Engineers and General Manager of that Company, and also the benefit of using the same organisation for the marketing of the gold won. The Directors of the Company resident outside New Zealand are associated with a group of Companies in New York , which supervise the management and operation of four other gold dredges in Colombia, South America. OBJECTS OF THE COMPANY ' The Company has been formed for the purpose of acquiring from The Eimu Gold Dredging Company Limited certain options and agreements which that Company has obtained over freehold and leasehold lands and certain special dredging claims which it holds near Ikamatua in the Mawhera-iti Survey District in the Nelson Land District, New Zealand, and of constructing and operating a gold dredge on those lands. Where the land has been privately owned options over the freehold of the land have been acquired in addition to the mining rights from the Crown. Some of the options provide that on the completion of the mining the land comprised in the option will be reinvested in the grantor for a nominal sum. .The additional objects of the Company are set out in its Memorandum of Association which forms part of this Prospectus. The total area of the land covered by the options is slightly less than 3000 acres from which a selected channel of commercial gold dredging ground has been chosen comprising at present about 1700 iacres. Particulars of the land and rights acquired are set out later in this Prospectus. s Since it commenced operations in New Zealand some sixteen years ago The Rimu Gold Dredging Company Limited has investigated and tested many properties in New Zealand, and the present area represents the best property so far encountered. PARTICULARS FROM ENGINEERS' REPORTS The following information and data have been compiled from ffoe reports made on the area by Mr Walter J. Radford, Engineer j'and General Manager of The Rimu Gold Dredging Company Limited, and Mr Sydney W. Ford, Consulting Engineer of San Francisco. These reports may be inspected at the Registered Office of the Company during office hours. LOCATION The property is situated in the Mawhera-iti Survey District, Nelson Land District, on the West Coast of the South Island of New Zealand. It lies in the Blackwater Valley, extending four miles downstream along the course of the Blackwater River to its confluence with the Mawhera-iti River (locally known as the "Little Grey The area then continues down the Mawhera-iti Valley for a further four miles to the confluence of the Mawhera-iti River with the Grey River, making in all eight miles of river bottom land. The property lies adjacent to Ikamatua, a station on the Grey-mouth-Reefton Railway, about thirty-three miles from Greymouth, and eighteen miles from Reefton. The Greymouth-Reefton Railway and highway run alongside the property, and the cost of transporting the Company's equipment and supplies to the property will therefore be low. DESCRIPTION OF PROPERTIES The Blackwater Valley has long been known as a gold bearing area. It is fed by many side creeks and streams which have helped to enrich the deposit with gold. Blackwater Creek, which runs into the Blackwater River near the upper end of the property, was dredged in the early days by the Blackwater Dredging Company, which operation was saidl to have been successful, and a large area turned over. A very small area within the boundaries of the property at the mouth of Red Jacket Creek, another tributary of the Blackwater River, was also dredged in the early days but no authentic records of that operation are available. At the present time sluicing and hydraulic mining are being carried on in the Blackwater Valley at points adjacent to the property. Among the tributaries of the Mawhera-iti River is the Snowy River, upon a branch of which, Mossy Creek, the Mossy Creek Dredging Company is now operating. The dredgable gravel in the property consists of eight miles of flat river bottom land rising on very slight grades, with terraces on either side. The deposit averages from half to three-quar-ters of a mile in width, the surface being remarkably flat, consisting in the main of cleared land with only a small amount of uncleared bush. Clearing cost will therefore be low. At some stage during the operations of the property the dredge will have to cross the railway line, which traverses the centre of the property. l.This the Company's Engineers estimate can be done at low cost by constructing under Government supervision, a deviation in the ■railway line approximately 3500 feet in length. !| TITLES AND ACREAGE r The Rimu Gold Dredging Company Limited holds options and agreements to purchase a little less than 3000 acres of freehold and leasehold property. It also holds two Special Dredging Claim Licenses, Nos. 8522 and 8523, of two selected areas of 858 acres and 854 acres respectively, and a Prospecting License, No. 8513, over the land which is considered to be the commercial dredgable channel of the property. An application for the amalgamation of these mining rights into one Special Dredging Claim, containing about 1700 acres, will shortly be made. The total purchase price payable for the property in respect of which options and agreements are held is £54,543. This obligation will be taken over by Grey River Dredging Company Limited, and details in connection with the terms under which the amount is to be paid are shown later in this Prospectus. The annual rental payable for licenses to be taken up is calculated at the rate of 2/6 per acre the first year, 5/- per acre th® second year, and 7/6 per acre thereafter.