Bre-X - Is it a good buy at these levels ? Message Board

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Gold/Mining/Energy : Bre-X - Is it a good buy at these levels ?

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To: vinod Khurana who wrote (4)	4/2/1997 2:11:00 PM
From: vinod Khurana	of 75

REPORT ON BUSINESS INDEX Wednesday, April 2, 1997 The Bre-X saga The Globe and Mail Wednesday, April 2, 1997 Mystery still surrounds the death of Bre-X geologist Michael de Guzman His relatives say they suspect foul play. Bre-X Minerals shares resumed trading and promptly overloaded computers at two stock exchanges. The frenzy came as the company was hit with two more U.S. class action lawsuits. TSE president Rowland Fleming offered reassurance that the exchange won't see a repeat of the problems when trading resumes this morning. All of the lawyers involved in the U.S. lawsuits filed against Bre-X have a long history of extracting big awards from companies. Bre-X didn't have to go through the time-consuming and expensive process of preparing a prospectus. The controversy is being particularly hard-felt at the place where most junior mining companies get their start in life: the VSE. Kilborn's report on assay methods is too complex to be released to the public, says Bre-X president David Walsh. The dollar touched ominously close to its lowest level in nearly two years, at 72 cents (U.S.), down 0.25 cents from Monday. The brouhaha over Statscan's seemingly conflicting job market figures is hot stuff for political junkies with the prospect of a June election. Ontario Hydro has failed to win unfettered access to the U.S. electricity market, putting increased pressure on the Harris government to open up energy sales in the province to competition. Domtar may try to acquire all or part of Repap Enterprises on its own after Avenor shareholders dimmed hopes for a three-way merger. CP Rail plans to abandon or sell up to another 1,656 kilometres of Prairie branchlines. The Bre-X saga is notable, among other things, for the frequency and duration of the halts in trading of company stock due to newsworthy developments. Investors have sent SNC-Lavalin's shares tumbling, primarily because of uncertainty overs its subsidiary's involvement in calculating the amount of gold in Busang. V.K

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