PUNT GOLD DREDGING COMPANY.

Otago Witness, Issue 2805, 18 December 1907, Page 30

PUNT GOLD DREDGING COMPANY.

Tk» following & the director* annual re>, port, to be submitted to taUin atthe; irmual meeting to b* Held onl» 20th mri.£ "In presenting tne animal report and balsno* Vh«rf for the je« ending Ootoben 3L 19OT, your directors. ragr«« haring to re* port a, riry unprofitable J~** °V*£*£ Is you are awace, it was found" $««•«* to carry out artsnsivs rep»» sad alteration* to the dredge, which were no* complete^ until April of the present year. On recominendng work «t tfie foot of tha claim rtt w£? folnd a*Msabl« to dredge througfi • corner of the Bising Sun ciaun. Goo« gol£ was *ot in- opening out, but as wns w*^ obtained on thVßising Sun claim ourcom* pany derived little- benefit from it. Unfcg innately for some months; the a™****! xfr mained rery low, makins it difficult f& bottom the ground, and although good golcl was proved to exist, extending into the ftefr hold, it was found necessary to open out ft larer face to enable it to be worSeeT to <$* beX advantage. The dtedee £as agu* started work on the ground W J* W «°&«XS wae left, and 1 your dradgemaster oonfldentw expect* improved rsturas will result. Xp# retiring director is Mr W T Talboys, wifo bcing«ligible, offers himself for te-eleotiort The auditor <M» W. Vivian? also retires! and offsrs himself for re-election.