GOLD DREDGING

Hokitika Guardian, 27 September 1928, Page 3

GOLD DREDGING

BIG VENTURE IN OTAGO, DUNEDIN, Sept. 24. Information which has been supplied to tho Press indicates that a powerful London group, operating extensively in gold, dredging areas, is prepared to spend upwards of ha!l' a million pounds in developing mining properties in Otago. Several cables have been received by a- Dunedin land agency firm stating that the London group has dispatched its representative, an engineer of world-wide experience, to New Zealand to inspect a gold dredging area in Otago, over his principals have secured an option. It is the intention of the London people to erect what will probe. >ly be the most up-to-date electric dredge in the Dominion—one capable of putting through a large output. Tire London company is interested in mining propositions all over the world, and has large interests in South America, Alaska, China, Spain, and Australia. This- is the first occasion, however, on which it ■ has been induced to operate in New Zealand, but the resultsiof prospecting and bores on the property over which it has an .option have be|% so favourable that it has exercised its option, and should be commencing operations at an early ! date. .Tlie/'company does not confine itself to gold dredging. It also has large interests in -tin, copper, coal antimony and mining propositions generally. The results of its operations will he a whited with much interest, and it is hoped they will mark a- new era in the history of gold mining in Otago. ‘