Los Angeles herald., 1907-01-13
WILL. OREOGE IN
SOUTH AMERICA
USE MACHINES TO RECOVER
GOLD
Expert Believes 1t to Be the Most
Successful Branch of Mining
Industry, with Little
Risk

Eugene Teats, one of the best known
dredge mining experts in the world,
has left California to carry the system
used in this golden state to the gold
laden countries of South America.
The expert left for New York to con-
suit certain companies before his de-
parture for another continent and who
spoke highly of the methods pursued in
this state.
Mr.. Teats made the following state
ment at a meeting of eastern mining
experts at New York during the past
week and his view of dredge mining is
considered as the best of authorities:
Dredging as a means of recovering
gold has become the most successful
branch of the mining industry There
is less risk with greater profit than in
any other class of mining.
The mechanical features of dredging
have been so rapidly developed that in
six years it has advanced from almost
an experimental basis to one of abso-
lutte certainty. In fact, results have
become so sure that profits are with
accuracy figured months ahead and
dividends determined with as much
precision as interest is figured on term
deposits in a savings bank.
Not Irue or Lode Mining
This cannot be said of lode mining
or, in truth, any other class of mining
Such a result in the instance of dredge
mining is so remarkable and sudden IN
it's development that only those with
the exact knowledge being posted tC
date on mining matters are aware o1
| the fact. Unmistakable evidence of tbs
| substantial position it has attained is
| there is little or no stock for sale II
dredging corporations" said Mr.. Teats
Mr. Teats has ben a close follower OF
dredging development throughout the
world.
During the last five years he has Civ
en- notable attention to California dredg-
ing operations in the vicinity of Oro-
vile and, while he Is still a close ad-
herent to the Oroville practice, he has
chosen a more distant field for his
operations.
Associated with Mr.. Teats are such
men at Mr. Moffat of the Moffat road,
Sam Newhouse, Kuntz Bros, bankers
of New York, and other heavy financial
men of the east.
"The company's field of operation is
South America" Mr.. Teats said in his
eastern address. Colombia, Venezuela
and Guiana are the richest countries
under heaven. The gold belt extending
through those countries is almost of
unbelievable richness"
Their principal operations will be
dredging based on the California prac-
tice. Mr. Teats speaks in the highest
terms of the operations being carried
on III this state. The system and econ
omy developed in working cost, even
within the last two years, is remark
able.
This is a credit to California opera
tors, as the margin of profit from
ground of low value made it necessary
to reduce operating costs to the lowest
possible point.
Benefit to Industry
This has worked beneficial effect
on the industry in general and especial
ly in opening up 4" vide field for appli-
cation of the dredge in working gold
bearing lands in the state which could
not be mined by any other system. ,
THE reduction in operating cost so
essential in ground of low value is not
OF great Importance in dredging in
ground of high value. like in the rich
streams of South America. Dollars ex-
list there where cents ordinarily exist in
gravels elsewhere, which brings operat-
ing costs down to a per cent of the
production hardly worth the mention.
within a very short time the eyes
of the world will be on South America
and the output of gold which will fol-
low will eclipse all hitherto records OF
Alaska or the KlOndike"