He believes the pre-World War 2 site has the commercial potential to "pick up the slack" for coal and mining industries on the West Coast.
"I think there is a good future [for gold], you can see the prices tracking up and with the uncertainty in the world, I think it is likely that the price could go quite a bit higher this year.
"There is a lot of gold here, we haven't really scratched the surface yet," he said.
The Birchfield family has had a long history of working in coal, gold mines and sawmills on the West Coast.
Birchfield said the site needs a new owner with industry experience.
The 3500 tonne dredge originally operated in Kaniere, but moved to Ngahere in 1987.
Fifty seven tonnes of gold had been extracted from the West Coast since 1870.