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: IngotWeTrust who wrote (7796)	3/24/1997 7:38:00 AM
From: Nugget	of 28369

Dow Jones Business News -- March 24, 1997 Bre-X States Confidence In Busang's Assay Results Dow Jones News Services JAKARTA -- Bre-X Minerals Ltd. (BXMNF) reiterated its confidence in the integrity and accuracy of assay results and resource estimates reported by the company for the Busang gold deposit since the start of exploration in 1993. "Unfortunately, when the first ounce of gold is poured at Busang, I am sure the naysayers will complain about the color,'' said Bre-X's President and Chief Executive officer, David G. Walsh. The company's technical team headed by John B. Felderholf has arrived in Jakarta to ensure continuity of the process that will secure the expeditious development of the Busang gold deposit, Walsh said Monday.' Bre-X made a statement following newspaper reports Friday that quoted an unnamed source as saying that check samples Freeport-McMoran Copper & Gold Inc. (FCX) has taken from Busang revealed less than 71 million ounces of gold that Bre-X claims is there. Freeport is one of the four companies which will develop Busang. Following the report, Bre-X's share price tumbled C$2.25 to C$15.20 on the Toronto Stock Exchange Friday and fell $1.625 to $11 a share on the Nasdaq over-the-counter market. Bre-X President and Chief Executive Walsh said the continuing proliferation of misinformation based on unsubstantiated allegations by unnamed sources, as well as recent personal attacks on Bre-X management, has prompted the management of Bre-X to consider legal action against certain parties and publications. The company cited an erosion of share value that has resulted from those reports.

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