The Cobeldick dredge worked leases along the Fraser River north of Lytton, particularily the Van Winkle Bar, between 1899 and 1904. During this time, an unspecified amount of gold was recovered.

The Cobeldick Dredge No. 1 Co. was bought out by Fraser River Gold Dredging Co., Ltd. in 1903. The dredge ceased operation in about 1904.