MINING

Hokitika Guardian, 3 April 1933, Page 6

MINING

MATAKI GOLD DREDGING

The annual meeting of the Mataki Gold Dredging, Limited, which is shortly to commence operations in Murchison was held in Auckland Inst week, Mr C'. 0. Mahoney presiding over about 30 ! share-holders. The dredge superintendent-, Mr 11. 0. Rpeed who is supervising construction operations, was present.

The report and accounts were adopted.

The retiring directors, Messrs C. 0. Mahoney and H. Curd, were re-elect-ed. Provision was made for the election of a director representing the Hamilton district shareholders, of whom there are over 100. The choice was left to the shareholders concerned, subject to the conditions laid down.

The directors were voted £250 for their services during the year. In reply to a question regarding flood risk, the dredgemaster said the Mataki River was classed as a swiftlyflowing river liable to sudden rises up to 10 to 12ft The question of a safe harbourage for the dredge was a very important one. The company had secured the freehold of the land on which the dredge' was being erected and had the option over all the alluvial flats down the eastern bank, so*'that all the' time the dredge would be working in perfect safety, building its own protective banks as it went.

As to the length of time the dredge would he working there, Mr Speed stated that there was sufficient' material for 20 years. It was hoped tliat a commencement would he made within five weeks.

The estimated capacity of the dredge is 120yds. of dirt an hour, and the plant is calculated to retain 95 per emit, of the gold.