GOLD DREDGING.

Auckland Star, Volume LIX, Issue 227, 25 September 1928, Page 4

GOLD DREDGING.

LONDON GROUP INTERESTED. PROSPECTING FAVOURABLE. (By Telegraph.—Special to "Star.") DUNEDIN, this day. That a powerful group operating extensively in gold dredging areas is prepared to spend upwards of half a million pounds in developing mining properties in New Zealand, and more particularly in Otago, was th« information given by a local firm this morning. Several cablee have been received by this Dunedin firm that a London group hae dispatched its representative engineer, of world-wide experience, to New Zealand to inspect gold-dredging areas in Otago, over which his principals have secured an option. It ie the intention of bhe London people to erect what will probably be the most up-to-date electric dredge in the Dominion, one capaible of putting through a targe output. The London company ie interested in mining propositions all over the world, and hae large interests in South America. Alaska, China, Spain, and Australia. This ie the first occasion on which it has been induced to operate in New Zealand, but results of prospecting and bores on property over which it has an option have been so favourable that it has exercised its option, and should be commencing operations at an early date. This company does not confine itself to golddredging, as it aleo has large interest* in tin, copper, coal, antimony, and mining propositions generally.