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Gold/Mining/Energy : An open letter to jr. gold investers by Ron Pitts 03/27/97

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To: Daytek77 who wrote (66)3/29/1997 8:00:00 PM
From: Dan P   of 297
 
Tony:

I too am concerned if a newsletter writer like Kaiser goes on record
as suggesting that a complex salting job was done on Bre-X, without
any hard evidence. Again, I have to go back to the fact that Barrick
did due diligence on the property, and drilled some 100 holes. How
could that have been a hoax, as no doubt Barrick supervised the
handling of those drill cores?

In the absence of hard evidence of any kind, it is very difficult to
cast aspersions on the motivations or actions of any party involved.
What should concern us primarily, is that the companies we are invested in are doing to demonstrate their responsibility and trustworthiness.

Dr. Robert, you mentioned Corriente, earlier, and perhaps you saw
their announcement dated March 31, which was sent to shareholders:
It would seem very strange to me indeed, that a strong jv partner
like BHP, one of the largest mining companies in the world, would
stay in the deal on Taca-Taca with Corriente, after announcing drill
results consistent with a tremendous coppper/gold find, if there
wasn't hard evidence of a significant find that they themselves had
verified. How on earth can one possibly question that???????and
what is the point?

I agree with Ron Pitts, who suggests that we ought to be able to trust
companies with strong management, particulary if they are allied
with a strong, respected joint venture partner. If not, who on earth
can we trust, and let us sell all our shares and go home.

Regards

Dan
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