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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Nugget who wrote (7807)3/24/1997 8:27:00 AM
From: bigdude   of 28369
 
"SALE ON BRE-X SHARES TO END THIS WEEK" must pay retail going forward
As posted in 7674 on Saturday night, my view on this situation has improved greatly following the arrival of Felderhof. (I wish he got there sooner) The elimination of the concern of what happened to Mike de Guzman will also lift a cloud surrounding the situation.

Out this morning, Hasan's spokeswoman said on Bloomberg "We have no findings that would statisically indicate anything yet" My interpretation of what may have happened is that some of the initial work turned out a bit weak and that got the ball rolling on these rumours. So, we are going to have to wait for the end of Freeport's due dilly before we know for sure because extrapolating a few poor results over the entire deposit is a dangerous thing. (Just my interpretation, so don't read too much into it)

Of more of a concern is that it appears the CoW is expected to be signed the beginning of April, so the rolling horizon on the CoW continues. Having Sudjana look into the situation is also not a positive thing either.

Also, on the trading of Bre-X, some people think that institutions trade only in blocks. Based on my experience, I have found it tough to trade in blocks due to liquidity issues, so stock gets pieced out in little chunks.

Cheer up dudes, looks as if things will stabilize this morning. If Mr. Paranoid thinks this, the stock could even rally.

Cheers

Bigdude

P.S. Gerald, yes that article you posted last week did go a long way to wiping off half a billion market cap off the stock.

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