BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: Cyber Rock who wrote (7932)	3/25/1997 11:20:00 AM
From: gunhyun	of 28369

There is nothing to fear but ourselves... [B] Adviser says Canada Bre-X (BXM) victim of Busang Internet plot BRIDGE Basic News - March 25, 1997 09:47 10448 STO PRE MET IND BXM V%KRDDF P%KRBN ------------------------------------------------------------------------ Jump to first matched term Bridge News Toronto--Mar 25--An analyst reportedly hired by Bre-X Minerals (TSE:BXM) claimed today the company was the victim of an organized conspiracy to drive down its stock value. Andrew Racz of New-York based brokerage Bishop Rosen and Company made the comments during an interview on CBC Newsworld. Racz's firm has been hired by Bre-X to investigate last week's share plunge, the CBC reported. Bre-X shares tumbled 13% Friday after Bridge News reported an Indonesian newspaper story that quoted an unnamed source at Bre-X partner Freeport McMoRan as saying the Busang gold site is not as big as earlier believed and may not be worth mining at all. The Bridge News report of the story was posted to the Internet before the stock began trading on Friday, and analysts have blamed that for contributing to Bre-X's dive. "This was an organized raid," Racz said. "This was the firstrumor raid which used, effectively, the Internet." Asked who organized the conspiracy, Racz said "that is very difficult at this stage to ascertain. Somebody did, but it was an organized raid, an Internet-helped raid." Racz said Bre-X and other companies are unable to protect themselves from these kinds of conspiracies, and called for government legislation. "Bre-X cannot defend itself against the Internet," Racz said. "Anybody who has a position to benefit from the movement of a stock, in this case Bre-X to go down, can set himself up after meticulous planning." No-one at Bre-X was immediately available for comment. <Picture: BRIDGE News> <Picture>Headlinesÿ ÿ<Picture>Next Story Search for: ------------------------------------------------------------------------ News: Search News \| Your Personal News Personal News Manager \| News by IndustryQuotes (free): Quick Quote \| Mutual Funds \| Money Market Funds \| Corp Info What's Hot/What's Not \| Market at a Glance \| ADR Search Portfolio: Your Portfolio \| Corp Info Research Corner: BRIDGE Market Summaries \| ADR Search User Info: Register \| View Balance \| Update Account Info \| Mail \| OtherAbout News Alert: Info \| Pricing \| What's New \| Sources ------------------------------------------------------------------------ Copyright c 1997 News Alert Inc. All rights reserved.

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