Bre-X, What happens after Strathcona results? Message Board

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Gold/Mining/Energy : Bre-X, What happens after Strathcona results?

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To: Dave.S who wrote (5)	4/20/1997 8:52:00 PM
From: Robert Dirks	of 31

You bring up a good point about the DHK fiasco in the NWT diamond play. Many stocks did collapse, but some of them came back and had a second life. Aber, Diamet and Southerera are still high priced stocks with mines in the works. Of course the Gold market is much larger than the diamond market, and Gold mines are much easier to find. I have to agree with many of the top analysts that Bre-x is most probably a bust. If they really had 71 million ozs. of Gold in the ground, it would be very apparent and there could be little doubt. You should be able to sink a drill blindfolded with your hands tied behind your back, and pull up some rich core. I tend to think that 70% of the Bre-x hit has already been discounted by the market (I hope). If the announcement does show its a bust, I think the market will go into a short freefall where the bids disappear, and some people will sell at very low prices. My strategy will be to put in very low bids and hope to get hit. It's not gonna be pretty for a couple of days but I think we will slowly recover from it... Good investing........

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