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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: bob bundy who wrote (8714)3/27/1997 9:29:00 PM
From: Postman   of 28369
 
Walsh made a statement in Calgary today that Freeport should have drilled its check holes deeper than 300 ft. That the gold is at a lower level. The market can only hope that is a correct statement.

BINGO BOB! I thought it was a well known fact that the gold was deeper?

This is a the strangest situation I've ever seen.

A couple of questions:

1. Why was Bre-x allowed to trade again before a responsible check was made?

2. How is 8 holes supposed to prove ANYTHING against 100 miles of core?

Also, was it the same type of drilling?
Maybe it was reverse circulation as opposed to diamond drilling,
which given the nature of gold occurrence could have very different results.
That doesn't seem to be reported.

Didn't the Indonesian government do some due diligence on the situation before making their decisions?

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