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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Rick McDougall who wrote (15356)4/20/1997 12:31:00 AM
From: Dustbin   of 28369
 
To all: My first question to any company that I check is," Are your assets within the grasp of Indonesian thieves? (Any govenment official, high or low) If there is any association, none of my money will be there. None of these companies who tread in "poacher infested territory" raised the least cry of protest over the treatment of Bre-x shareholders.. Are they hoping that they will be lucky enough to escape being ripped off? Or are they just content to spend our investment dollars greasing hands instead of drilling?

As for the Canadian brokerages, I suspect that they now have a vested interest in the failure of Bre-x. They made money on trades; customers who were stripped on Black Thursday will not be heard in court or in the media, and the panic cry "Your shares are worthless!" will be SEEN TO BE justified ONLY BY THE COMPLETE COLLAPSE OF BRE-X. They are already preparing the public by chastizing BXM management for trading their own stock, this while they turn a blind eye on MM who regularily use borrowed certificates to short sell. One does not have to look far for the motivation to open the market on black Thursday. Short positions in all of the mining sector were covered at sacrifice prices. The Canadian Business Establishment and its many funds appear to have but one sacred client: themselves. You and I are objects of derision among them. They are amused by the misfortunes of "the unwashed". Even if BRE-X is exonerated, it is not "one of the boys".
The "boys" are praised as "hard nosed" if the pull off a less than honourable deal. Bre-x management have a set of unflattering adjectives (beefy, beer drinking, once bankrupt, "out of their league", naive). Bottom line, "our analysts, business media, and CEO's were unwilling to call the Indo gov. what everyone has seen them to be; worse yet, they still want to curry favour with them in order to be allowed to invest their customer's money in that political cess pool.

Does anyone expect SHF to be anything but snivilling, bowing and scraping low to pretend that they alone are not going to be bled dry by the poachers?

H.
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