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: Nugget who wrote (8477)	3/27/1997 10:57:00 AM
From: Walter	of 28369

To Nugget and ALL: Thanks for the latest post from Dow Jones Business. I think they have been the most objective of any newswire. I find the following quite amazing (there may still be hope): 'To pull off a scam at this level would be very difficult to propagate,' said the Australian mining executive. 'These companies are both highly respected, and you'd hope Freeport would more comprehensively test Busang. It took Bre-X more than two years of work to reach their resource conclusion. You'd think Freeport would drill more than seven holes.' This mining executive, who visited the Busang property, added that Canada's Barrick Gold Corp. - previously an aggressive bidder for control of Busang - drilled at least one hundred test holes as part of due diligence work on Busang. He said that it was only after Bre-X tutored the company on its own assaying techniques that they reached a similar conclusion. 'Maybe they (Freeport) should have been more patient in making a decision,' the executive added.

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