Wombo tells Blinky about the legend of Captain Moonbeam's treasure and the gang decide to look for it underground. The Dingoes steal the treasure chest but are less than pleased when the actually treasure is revealed to be old bean cans.
According to the story, many years ago a local bushman had hidden a chest of treasure in the area. Blinky and his friends go on a scavenger hunt and they find an old chest. However they are not the only ones interested by it. Will the Dingoes steal the chest from Blinky? And what is inside the chest?