MINING NEWS
Clutha River Dredge.—For the week ended on Friday, the Clutha River dredge, operating at Alexandra, worked 131 hours and recovered 148 ounces. The yardage for the last four weeks was 188,000. Barrytown Company.—The Barrytown Gold Dredging, Ltd., is proposing to sell its dredge for £85,000, Australian currency. The directors will ask shareholders to agree to the sale of the dredge as it lies dismantled at Barrytown, New Zealand, together with replacement parts. They said in their last report that they were negotiating with Australian interests for the sale of the dredge. Production ceased in May, 1945, because of dredging difficulties and the shallow nature of the ground. The cost of dismantling and crating the dredge to March 31, 1948. was £19,596. The dredge and plant then stood in the books at £124,761. The company, which is Sydney controlled, was formed 15 years ago. Dredging began in 1937, but results were disappointing. Only one dividend—6d a share in 1940—was paid. The capital is £NZ128,750.
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Bibliographic details
Otago Daily Times, Issue 27166, 23 August 1949, Page 7
Word Count
165MINING NEWS Otago Daily Times, Issue 27166, 23 August 1949, Page 7
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