GOLD DREDGING.
LONDON CAPITAL INTERESTED. DUNEDIN, October 10. The possibility or London capital becoming interested in gold dredging m Otago promises to take delinite shape in the near future. The secretary of the Molyneux Hydraulic Gold Dredging Co., whose claim is under offer to a London syndicate, lias received the following cable from London: “Terms arranged with purchasers. Post option to me for six months, and cable date of dispatch, —Payne.” The -Molyneux Gold Dredging Co. holds a stretch of the Molyneux river, some 14 miles in length, of which t-lie greater portion is said to be virgin ground. Air E. W. Payne, who signed the cable, was formerly in business in Dunedin as an engineer and designer of gold dredges. He bad lived in London for many years, and bis fhm Payne and Son, is connected with some of the largest tin dredging companies in the world. He is well acquainted with the stretch of river which London interests propose to acquire, and he is associated with a very wealthy group of mining investors. The flotation of the London company is likely to be successfully effected.
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Hokitika Guardian, 13 October 1928, Page 2
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187GOLD DREDGING. Hokitika Guardian, 13 October 1928, Page 2
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