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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: nmk who wrote (24697)5/23/1997 1:49:00 PM
From: mikesloan   of 28369
 
Here we go - investors looking for another scapegoat. What was Kilborn Engineering Pacific hired for - to do housecleaning!!!!! Please give me a break folks the people in the Calgary office did everything they could have done. It is about time we started going after the real culprits here instead of the people who did their job.
>
> Journal says investment experts' fingers now pointed at Kavanagh
>
> Bre-X Minerals Ltd BXM
> Shares issued 219,103,330 May 7 close $0.09
> Fri 23 May 97
> The Wall Street Journal reports in its Friday edition that without Paul
> Kavanagh, Bre-X Minerals probably would not have risen quickly from a penny
> stock into one of Canada's largest companies before tumbling back again.
> Reporters Suzanne McGee and Mark Heinzl quote John Embry, who oversees
> Canadian stock market investments for Royal Bank of Canada's family of
> mutual funds that Paul Kavanagh brought the aura of respectability to
> Bre-X. Other investors and analysts say that Mr Kavanagh's appointment as a
> director of the fledgling mining company in early 1994 marked the beginning
> of Bre-X's transformation. These analysts told the Journal that without Mr
> Kavanagh on board, they would have treated Bre-X with more skepticism.
> Investors note that even after Freeport came up empty at Busang, Mr
> Kavanagh remained a Bre-X booster. In an April interview, he said it was
> absolutely inconceivable that there was such a massive salting operation.

PS Isn't that what Strathcona said or words to that effect. Read the report.
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