OTHER DISTRICTS

Otago Witness, Volume 02, Issue 2420, 2 August 1900, Page 19

OTHER DISTRICTS

Mining matters at Reeflon, Greymouth, Hokitika, and othei leading centres on the West Coast have been rather dull during the past two ci three months, but there is every appearance of a change shortly. The returns from the Totara dredge, working on the Totara River, south of Hokitika, are reported to be exceptionally good, and although very little reliance can be x'lace^ in rumours at any time, still there is little doubt but that the dredge is paying well. Many who are' well acquainted with the Totara distridt, and who were in doubts as to whether the Totara dredge would prove a pajdng concern or not, are now taking up dredging areas in different parts of the West Coast, and preparing them for flotation on the varioxis markets in the colony. The Grey River Company's dredge will commence operations in the course of a few weeks, and this will certainly cause a flutter pn the Coast, or at least in the Grey Valley, as it is the opinion of all who are acquainted with the locality that the returns from this dredge will be something A few weeks later several other "dredges will start in different parts of the Grey Valley, and should these prove satisfactory, one of the greatest booms that have ever been known on the West Coast will set in. The work of pegging off claims and applying for them has already been carried out, and there is now little or no ground left to be taken up. Still, many of these claims have yet to be prospected, proved payable, and formed into companies. All this will certainly be done providing the first five or six dredges on the Coast pay.

A great many people are running away with the idea that all the best chances on the West Coast are now floated. This is altogether an erroneous notion. Many of the mining experts from Dunedin who have had a considerable experience in dredging in Otago state that some of the best West Coast dredging claims have not yet been placed on the market for flotation. If such be the case, what a future there is in stare for the Coast. Why according to a prominent resident of this town there lies within a stone's throw of G-reymouth a seam of black sand 14ft thick that will go an ounce to the yard, and he mentions to the representative of a local journal that lloz to the load was some of the poorest ground worked on the Doike's Terrace, which is but a shoit distance farther away. REEFTON. Jtily 23. — In company with a friend interested in certain mining ventures on the West Coast, arid better known as a Dunedin mining expert, I left Totara Flat one miserable night last week on a visit to the City of Quartz. Reefton, which is one of the largest inland towns on the West Coast, is a fairly bus3 r place. All the mines around about the place are working steadily, and there is a good deal of money in circulation. There is very little alluvial mining being carried on at this place, although a good many dredging claims have been taken up on the neighbouring rivers, which will probably in tht course of time prove paying concerns. Several dredges are working on the Buller River between Reefton and Westport. One of these is a company known as the Buller Dredges (Limited), with a capital divided into 12,000 shares of 10s, 5s paid-up, and which was registered in October, 1897. This company was originally known as the Buller Gold Dredg-

ing Company (Limited), and was reconstructed for the purpose of obtaining the necessary capi£« tal for the building of the pr 3en dredge. Foil some time this dredge has been, on very pooi - , ground, but the company expects to get ori-j| good gold shortly. The working expenses o5 this dredge run into something like £50 per week. The old company, who were in pos-' session of this claim at first, cleared something like £3000 over working expenses. The present company have paid dividends, but not many. Another company, known as the Al Gold Dredging Company (Limited), with a capital of about is about to work a claim of 72 acres situated on a flat at Redman's Creek, adjoining the Reeves Proprietary. This company will shortly commence operations. The Consolidated Dredging Company (Bulle* River), Limited, is a JE6OOO company, formed to wcrlc a river bank and flat claim of about 130 acies at Three Channel Flat, about seven or eight miies lowei down the rivei than Lyell township. The company commenced operations in October last. Tlu working expenses on this dredge also run ink about £50 pei week As far as I can gather the returns over working expenses so far have not been very great. There are several other di edging companies along the Bullpi- Rivei which will shortly commence operations, and although up to the present the Bullei has not proved to be a second Molyneux, there is plenty of time to see dredges winning handsome returns from the river.