Bulolo Gold Dredging

Shares Listed in London.

BULOLO Gold Dredging Limited per mission to deal had been granted by the Committee of the London Stock Exchange in respect of all the 765,000 issued shares, and the Company is in course of being listed also on the Montreal Stock Exchange. Shares, registers and transfer offices have been established in London and Montreal, and the shares will be transferable be tween the Vancouver, London, Mon treal and Sydney registers. The shares are being introduced on the London, Montreal and Toronto markets.

In an announcement made by the Company in the London financial press it is stated that, from the information at present available, the directors believe that the total number of shares to be allotted to Placer Development Limited in satisfaction of the purchase from that Company of the Bulowat-Burnside areas, will not exceed 235,000 and that it is anticipated that from dredging the at present proved yardage of one hun dred million cubic yards there will be available for distribution to share holders by way of dividend and return of capital 23,250,000 gold dollars; and that these profits will probably be won during the next eleven years. It is further stated that it is likely that additional dredging ground will be de veloped on the Company’s present holdings; thus extending the life of the operation, and it is also stated that it is probable that towards the end of the present year payment of regular dividends will be commenced. Similar announcement is being published in the Qanadian press.