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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Turk who wrote (19115)4/29/1997 10:44:00 AM
From: Graystone   of 28369
 
Everything is not as it should be in Busang, what went wrong and by how much remains to be seen.

1 IMO there is 20mil+ oz of Au in Busang. If their is 20,000,000 ounces of gold, why would Freeport want to withdraw from the project.
2 Freeport's second news release last week should have cleared up any talk of elementary lab error. They stated that they had reviewed their procedures which would indicate that they think they are right in their conclusions.
3 Freeport has experience in this area (Indonesia) and a review of their procedures would have turned up errors in prep etc.
4 Technically these are different companies and no justification could be made by the Indo's to tar all with the same brush, more important is the lack of COW's for Busang.
5 I believe there is gold at Busang, just not 71 mil ounces, the reports coming from Indonesia are no more informed than reports from here.
6 The runup in price is real and could certainly be indicative of positive results, the price has moved to a new range and shows a lot of resistance to moving out of that range.
7 We all know that "everybody loves a winner" and the backlash from the Freeport news was the press making sure that the world knows they are impartial, if impartial is indicated by rabid articles denouncing a good company.
8 I think that Strathcona's report will raise more questions and we won't know the questions till we see the report. No "salt job" has been proven and most theories cannot account for all the results so we wait.
9 It is always good to have someone point out the obvious, David Walsh is not a criminal, nor does he think like a criminal. I think we will agree that the person who has suffered the most out of all this is Walsh. He is no slick "munky" and has suffered for his lack of sophistication in many opinion forums. I agree that there are many inane theories as to how salting occurred but I still believe that cores could have been switched. As long as the core came from nearby (Busang I maybe ?) it would be difficult to isolate using signatures. As I said, something isn't right and I don't think we know what it is yet.
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