GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 16 May 1901, Page 2

GOLD DREDGING.

The Kanieri Lake Water-Race Com-

pahy are making steady progress with the construction of their race from the lake towards Kanieri. The meeting of shareholders in the Lake

; Mahinapua G. D. Company held at Wellington on the 15th ult., did not adopt » the proposal to increase the capital to £IO,OOO by the issue of new shares carrying a preferential dividend of 10 per cent., but adjourned to the 16th inst.,- when a resolution to increaso the capital to £12,000 by the creation of new shares with a preference up to 25 per cent will be considered. The West Coast Times Wailio correspondent writes: —Mr George Park has taken over the management of the Wailio Company, I understand he is going to carry the water some distaece further up the Gorge, ;it a place where I should like to have seen them working some time ago. Mr Park is an old digger and knows the locality well. We may expect to hear of some good returns before long.

It is stated on good authority that rich prospects have been obtained on the

Kohinoor and Jlsefton Ucited properties at Ross. A letter was received from Mr Grimmond, Managing Director of the Kohinoor G. D. Company, and who has been supervising the boring operations, stating that the result of the present bore on the boundary of the Kos3 United and Kohinoor claims show that the wash from surface to 42 feet wa3 payable for dredging, and from 42£t to 50ft the results were excellent, the wash going sdwts to the yard. Should this report prove correct the shareholders are to be congratulated on possessing such valuable properties.

Saturday's Record says the week has witnessed a distinct improvement in the dredging market. The tone is more buoyant and speculators show a disposition to operate, recognising that the present slum]) offers the opportunity of getting m at bottom prices. The returns from the Olago dredges last week showed a substantial improvement on the previous week, and the results for the current week ought to show a still greater expansion. The rivers are steadily lowering, and more dredges are able to commence work. On the West Coast also, there is a change for the better. Satisfactory

returns have been obtained from tbe ITelson -Greek, Pactolus, Mokoia and Greenstone Junction dredges, and there are indications that the returns from various other dredges will increase. •Crold yields will stimulate the exchanges, and 'we may reasonably hope to see a steady increase in the output both in Orago and the West Coast. The Bobertson's Gold Dredging Company, Cardrona, are completing the purshase of the Eiver View claim, situated n the Ahaura Eiver, West Coast. They ropose to abandon the claim in the Carrona Valley and place a dredge on Eiver lew. This claim has been thoroughly isted by Mr Norman Sligo, Mr Alexander owan, and recently by Mr Glossop. The turns from the boring we aro informed Bre most encouraging, and indicate that e claim should pr.ovo a good one. Tbe flight (which r,roved so rich on a rei" Hi»l) is next to the Eiver View, while Peterson's is on its other end. The folding are the tests of the Eiver View :

3. 1 bore, 6f j.l/3gr, or nearly 3dwt per rd; Ne. 2 ' oo re, .552 gr per yard; No. 3 re .494 gr "per yard; No. 4 bore, 1.435 gr c yard; 'J O . 5 bore, 10.426 gr per yard; ). 6 bore, .536 gr per yard ;No 7 bore, )88gr "per quarter yard; No. 9 bore, 505 gr per quarter yarn; 60 dishes, D4Bgr ; so dishes. 5.937 gr; 30 dishes, |422gr i. The above figures have all been prke d out by Mr W. El, M'Adam, as}J&:, Bank of' New Zealand.