GOLD DREDGING.

Greymouth Evening Star, Volume XXXI, 20 December 1901, Page 4

GOLD DREDGING.

Several unedin brokers and mining men are coming over to the coast from Dunedin during the forthcoming holidays. The secretary of the Mokoia Company reports that the dredge, which has been idle since Tuesday last, while the screen was being repaired, started dredging last Friday morning.

Lasi week’s return of 58ozs Bdwt from the Hokitika River Company’s dredge brings the total amount of gold won since the starting of operations in October up to 1990 z 3dwt, or an average of over 19oz per week. Last week’s return is the largest yet recorded from dredge. The Otago Daily Times, understands that Mr Harold Orkney at present on the Stafford-Waim-a dredge, has been appointed dredgemasterof the Great Lead Company’s dredge, and expects to be at the dredge in readiness to take it over from the contractors when passed by the consulting engineer. Mr Kerr has been appointed to the vacancy as engineer. Arrangements arc now being made to start the dredge at an early date.

The question cropped up on Dunedin ’Change on Tuesday morning as to whether the ordinary Leviathan shares sold on the market carried any preference rights with them. It has been ascertained from a reliable authority that the shares carry no preference rights, since the time has expired for making application purely and simply on the shareholding interest. The directors, however, in allotting the preference shares applied for will give first consideration to old shareholders. This is the last week of stock exchange meetings before the coming holidays. The only movement of note occurred in Pactolus, which, after a record return of lo9oz advanced to 31s. Sales of Hokitika River shares also hardened appreciably. These developments on the Nelson Creek and tho Hokitika River are of great importance to both those branches of the dredge system of tho Coast. The former is quite established as a payable field, and the 58oz return of the Hokitika River Company’s dredge will do much for other dredges in that locality, notably the Woodstock, which is well on towards completion. The Premier (Buffer) dredge had a most successful week’s trial last week. Dredging during the day time only, she put in 65 hours with the satisfactory result of 13£ozs amalgam. The return well for the future of the claim considering that only loose drift was treated, and owing to some necessary links going astray, the ladder could not be adjusted sufficiently long enough to dredge on tho bottom, consequently the best gold was not touched. It must be explained that owing to a shallow bar at tho bottom of White Cliffs Island, a rise of 6 feet is required to allow the dredge to be taken down to the bottom of the Company’s claim. It is the intention as soon aS opportunity offers to got down stream and work the dredge systematically from ihs bottom of the claim, when it is confidently expected that uniform average returns will be obtained for a number iof years No further dredging will be done tiff the afore mentioned spot is reached. In the meantime all necessary adjustments will take place after the New Year. So far the dredge has proved to be a most up-to date powerful machine, and when fully out of the contractors hands will prove a credit to the builders.