Page 12 Advertisements Column 1

Sun (Auckland), Volume II, Issue 388, 23 June 1928, Page 12

Hamilton amilton A LEXANDER LEXANDER INSTITUTE. NSTITUTE. PRODUCTION. MARKETING. FINANCE. ACCO. .. . ING Auckland Representative: C. Li. ROLLO, 214 Dilworth Building, Auckland. Phone 40-500. Or P.O. Box 422, Auckland.

Dredging for Gold By Electricity £40,000 DUNEDIN CONTRACT. Messrs. J. Sparrow and Sons, the old-established dredge building firm, of Dunedin, are now building the most modern ELECTRIC ALL STEEL BUCKET DREDGE yet constructed in New Zealand, to the order of THE GOLDEN TERRACE EXTENDED GOLD DREDGING CO., LTD. Completion of dredge is due about the end of the present year, when immediate dredging operations will commence on the company’s claim of 665 acres of PROVED GOLD-BEARING GRAVELS, situate on the famous SHOTOVER RIVER, OTAGO, 5 miles from Queenstown. To date the rich alluvial deposits in this district have furnished gold to the value of over £30,000,000. By continuous dredging of 24ft. per day the claim will take 20 years to work out. Cheap electric power will be derived from the company's own Hydro Power Scheme at Wye Creek, adjacent to the claim. Construction of this Power Plant, costing £IO,OOO, is now proceeding. With the advent of Electricity, Dredging for gold has proved a most profitable form of obtaining the precious metal. The great success now being enjoyed by the "RIMU PLAT DREDGE” at Hokitika—controlled by American Capital—proves what can be done by modern methods. Over £250,000 valne of Gold has already been won by the dredge, and record returns are being obtained at the present time. The Golden Terrace Company’s Claim has been proved GOLD BEARING by means of 32 bores put down on the claim by Mr. G. E. D. Seale (late Government keystone drill expert), and by the company’s own engineer, Mr. Geo. Pettigrew. Gold was found in every bore, and proved on test to be worth seven pence per yard. Working costs will be less than one penny, leaving six pence per yard profit. The huge electric dredge will treat 40,000 cubic yards per week, with a profit of £I,OOO weekly. The results of Mr. Seale’s boring tests bear the wisdom of the directors of the Golden Terrace Company in refusing an offer of £50,000 cash for the claims and water rights. Mr. Geo. Pettigrew, Supt. Engineer and Dredgemaster, has had over 30 years* experience in Gold Dredging and has built 16 successful Gold Dredges, including the ‘‘Worksop’*, ‘‘Mystery Flat,” and ‘‘Master” Dredges, which were Gilt Edge Investments that returned £B. £6, and £5 respectively for every £1 invested. Carefully computed estimates, after allowing for upkeep and depreciation, show a profit of £50,000 per annum. A DIVIDEND OF 50% PER ANNUM IS CONFIDENTLY EXPECTED. Most of the capital has already been subscribed. Only a limited number of shares are now available. Immediate application is essential. There are no preference shares. All shares stand on an equality. No cash consideration is given to any promoters or others. All contracts have now been left. Within 9 months the dredge will be working full time. Now when the company is abont to commence active operations is the time to buy. Early and snbst-antial dividends are assured, value within 12 months is printed on all latest prospectuses. The Chairman of Directors’ £I,OOO GUARANTEE that the shares will double in value within 12 month is printed on all latest prospectuses. Shares are £1 each, payable 2/- on application, 2/- on allotment, and the balance in monthly calls of 2/- per share. Write or call for free prospectus. Reserve your shares by post to: C. W. RICHARDSON, Representative, The Golden Terrace Dredging Co., Ltd., 14 National Bank Bldgs., Shortland Street, Auckland.