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: Nugget who wrote (8077)	3/26/1997 11:43:00 AM
From: Gerald R. Lampton	of 28369

Here's another Dow Jones from this morning: The Asian Wall Street Journal Copyright (c) 1997, Dow Jones & Company, Inc. Wednesday, March 26, 1997 International Brief: Bre-X Minerals Ltd. An Indonesian official said the government will approve Bre-X Minerals Ltd.'s mining contracts to develop the Busang gold deposit in Indonesia, believed to be the world's largest. Mining company Bre-X, based in Calgary, Alberta, along with partners Freeport-McMoRan Copper & Gold Inc. of the U.S. and private Indonesian companies PT Askatindo Karya Mineral and PT Amsya Lyna, received government approval last month to form a joint venture to develop Busang. Under the agreement, Bre-X will hold 45% of the mine; Freeport, 15%; the Indonesian companies, a total of 30%; and Indonesia's government, 10%. (Dow Jones) ================================================== I don't doubt that Dow Jones has accurately reported what the Indonesian official said. However, whether the Indoensian official got it right remains to be seen. I am glad they halted trading. I want to hear what Walsh has to say about this.

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