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: Achilles who wrote (8144)	3/26/1997 1:48:00 PM
From: Bill Jackson	of 28369

Claude; One of the assumptions in drilling is the circle of confidence. In sedimentary rocks you get drill holes 5000 feet apart with the same ore grade at the same depth, this is called a sedimentary horizon. You are safe in asuming great continuity. In the Bre-X deposits, they may not have drilled closely enough to fully map areas, and thus the assumptions of large areas at that grade are wrong. There may be a number of smaller areas that should not be connected and thus a smaller reserve may be indicated. This is not necessarily a complete disaster, as they could have 56 million ounces and not 71. Not bad, and still worth $30+ per share. But if they end up with very low values, the market will take Bre-X down to pennies and at that point there may be buying chances for the strong of heart and wallet. It could go way down and then come way back up. Hopefully you sell now and buy back at the bottom to increase you % holdings. Bill Jackson

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