Options Over To B.D.G.
p. 68 · Read in the full issue
Placer Company To Hand
AN arrangement has been entered into between Placer Development, Ltd., and Bulolo Gold Dredging, Ltd., by which it is agreed that the Placer Company will discontinue prospecting in New Guinea: and Papua.
The Bulolo Company will follow up, for joint equal account and benefit to both companies, any future opportunities in those territories, except that properties, contiguous to the Bulolo Co.’s present holdings will be for that company’s ac count only.
The present options held by the Placer Co. in New Guinea will be taken over by the Bulolo Co. for cash consideration equal to the total expenditure incurred by the Placer Co. Should any of these options be exercised, Bulolo Gold Dredg ing Co. will recompense the Placer Co. at a price agreed upon between both companies.