Company

Tribute To Bulolo

By Guinea Gold

I SHOULD like to dispel once and for all an idea that still seems to prevail in certain quarters that it is a pity that Guinea Gold itself did not retain and work the Bulolo properties instead of disposing of them,” said the Chairman of Direc tors of Guinea Gold, N.L., at the re cent half-yearly meeting of that New Guinea company.

“Without in any way disparaging Australian talent in mining matters,” he continued, “your Directors will never believe that this dredging scheme, which has been carried through with masterly precision and efficiency by the Bulolo Company, could have been as well handled by ourselves.

“With past experience gained in many parts of the world, the principal executives of that Company soon dem onstrated beyond doubt that they had very little to learn from us. More over, the Australian monetary situa tion during the past two years has been such that the local financing of an undertaking of this magnitude would have been almost an impossi bility.

“The relationship between the three Companies, Guinea Gold, Placer Devel opment and Bulolo Gold Dredging as Vendors. Promoters and Operators re spectively could not have been more satisfactory and it is therefore to be hoped that due weight will be given to the fact that our friends from Canada have already proved them selves most able, energetic and punc tual in their handling of this particu lar undertaking on behalf of their shareholders.”