Bulolo Gold Co.
p. 43 · Read in the full issue
Increase in Capital
IN the annual meeting proceedings of Bu lolo Gold Dredging Ltd. shareholders were advised that the directors were negotiating with Placer Development Ltd. for the pur chase from that company of a large dredging area located immediately down stream from the company’s dredging property in New Guinea.
The terms of purchase have not yet been fully settled, but as the purchase considera tion is to be in Bulolo shares, the directors recommend that the authorised capital of the Bulolo Company be increased to 6,000,000 dollars, in order that an agreement may be signed immediately the terms are settled.
This proposed increase of capital will pro vide, after the above purchase from Placer Development Ltd. is concluded, a large reserve of unissued capital in case further properties should later be acquired.