a treasure or 2 in Indonesia? Message Board

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Gold/Mining/Energy : a treasure or 2 in Indonesia?

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To: Ron Pitts who wrote (48)	3/22/1997 3:46:00 PM
From: J A Levings	of 55

Ron, not withstanding the bre-x fiasco; indonesia has one of the best and most secure system of mineral tenements in the (3rd) world (Contract of Work or COW). You can look at the track record and see that there have been several significant metallic mineral mines developed and put into production over the past 10 years (eg Grasberg Kelian Pongkor Mesel (newmont) Rawas(Laverton Gold). In addition there have been huge and very sucessful investments in coal mining. What other country in asia can boast such a track record? bre-x made a number of fundamental error operating in indonesia and do not have a signed COW over their main deposit. I think antwhere in the world there would be a risk in making Busang-like announcements without valid title. This is not to excuse the greed of certain indonesian parties in this particular case. John.

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