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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: Bobby Yellin who wrote (8148)3/26/1997 2:05:00 PM
From: Bill Jackson   of 28369
 
Bobby; If this plays out(IF) to a fraud scenario and 240 million shares turn to wallpaper it will have a chilling effect on grass root exploration. Majors associated operations(with Dome, Teck, Barrick, Royal Oak, etc.) will get the lions share of interest as they will be done under well controlled conditions. Joe Blow and His Rocks Inc (JBHR.VSE)?? Will have a hard time becoming high flyers. There will be bargains to find with good research, and SI will help with this. Obviously a large number of the posters who hid under fake names were part of this scam, and I fully expect that the SEC/OSC will be after
SI for their names etc. I also expect that there will be a need to strip the veil of anonymity from posters. Would you speak to a masked man in a bank. Is there money at risk here? There are hundreds of people who might have exited BRE-X 1-2 months ago, when I was first reading the writing on the wall. I got attacked by legions of anonymous posters, some under multiple names, whose purpose was to keep investors in BRE-X. Why was this? So the crooks could unload?
There will be lawsuits galore from this, I suspect.
There will still be good and honest companies out there to invest in.
Just avoid bandwagon effects.
If you want a few good Companies. Here is a list.
Pacific Rim (PFG VSE) JV with Barrick
Moneta Porcupine Mines(ME on Toronto SE) JV with Barrick
St Andrews Goldfields (SAS Totonro) Started milling yesterday
Mongolia Gold (MGR VSE)
Penn Gold (PNB VSE)
I have two of them at this time.I am not rich enough to buy more, but soon, maybe on PFG, I will get richer. But they are all well run with excellent upmarket potential, and no crooks at all, none, zero.
Bill Jackson
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