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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: thebeach who wrote (17689)4/25/1997 9:33:00 PM
From: Hymer   of 28369
 
Turk, Let's stop for a minute and evaluate all the new information we have today:
1) Neraca the infamous indonesian newspaper which has close ties with Hasan and originally leaked through an undisclosed source that Freeport did not get similar results to that of BXM on their DD. is now stating Freeport will be pulling out of Busang project.

2)In Jakarta, many mining executives are starting to suspect Busang may contain significant quantities of gold. Speculation is
centred on southeast zone 11, believed to be rich.
"I know how the system operates here," said one executive. "If there was no gold in Busang, the government would have
definitely leaked out that fact, preparing everyone for the bad news.''
He pointed to Wednesday's move by PT Nusantara Ampera Bakti (Nusamba), controlled by President Suharto, to increase
its stake in Busang 11 as a favorable sign.
"This project is being monitored very carefully by the Indonesian government. I think they are on to something and if I had
some money today, I would buy Bre-X shares.''
An Australian mining executive agreed with his assessment.
"This is the largest mining project being undertaken in Indonesia,'' he said. "I think the Mines & Energy Ministry is pretty
confident now that this whole thing will not blow up in their face. I think Bre-X will be tainted for life with suspicions of
tampering, but this still does not take away the fact that Busang 11 must contain significant quantities of gold. Not 70 million
ounces, perhaps, but a more than respectable 40 million ounces."
The favorable sentiment toward Busang surfaces at a propitious time for the Indonesian government.
Campaigning for next month's parliamentary elections starts on Sunday and the government would be profoundly embarrassed
if Strathcona's audit confirmed the worst fears about Busang.
Though the project is unlikely to be a major campaign issue, the opposition parties are hoping to capitalize on any adverse
development over the next three weeks. (From F.P.)
3)Bunting/Warburg has been buying stock like crazy this last week.(Isn't this the Bank that arranged Hasan 500,000,000 line of credit)

Seems to me that most information is not harmful to BXM and another week goes by with "NO SMOKING GUN"

I feel as comfortable as possible in this situation. Now sitting tight for Strathcona results. Looking forward to $20+++
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