SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Richnorth who wrote (12770)4/9/1997 11:35:00 PM
From: Richnorth   of 28369
 
Hi Rich,

Just in case the following letter has not yet been posted elsewhere on this Bre-X thread and just in case anyone is still confused about how and why the Great Bre-X Screw-UP had occurred, I would like to point out that Professor Kurt Grimm of U.B.C. has written to the Globe and Mail (9th April) thus:-

"At the root of the Bre-X Minerals debacle lies the fact that the entire core was crushed and analyzed, leaving zero opportunity for independent, replicate sampling.

"Regardless of culpability, the entire Bre-X fiasco derives from violation of a basic scientific principle: the necessity of replicate sampling and analysis before results are considered reliable.

"As weeks and months passed, expanding gold estimates based on a fatally flawed and perhaps fraudulent sample set created a tsunami of optimistic investment. However, the frenzy was based on flawed science. In simplest terms, billions of dollars were wagered on an irreproducible data set.

"Is there a lesson? In the universities, funding for education continues to decline. Research dollars grow scarcer and are more closely tied to immediate financial returns. Basic science -----guardian of the scientific method and objective enquiry ---- is more commonly sniffed at, then pushed aside. Bre-X illustrates that the costs of bad science are painfully high."

Richnorth
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News