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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: clifford atkin who wrote (19409)4/29/1997 9:13:00 PM
From: julius diamond   of 28369
 
Cliff you sent this post to me after the "inconclusive" statement was released by Freeport. Why? With regard to the memo:

1. If there is no Gold you can check the same holes as much as you like but you won't find any. The question is, as I have repeatedly stated, was there no Gold in the ground and Bre-x salted or did Freeport make a mistake? We need Freeport to reveal everything they did. It is not worth analysing the release it is meaningless.

2. Another thing that bothers me about the release is that Freeport only mentions that they analyzed their holes. I find it incredulous that they did not analyze the twinned Bre-x holes to compare to their results. I would bet that they did. Even if they didn't want to be rigorous, their curiosity would dictate the investigation. I think imcompetence could be applied to them if they did not or worse some other motive.

3. Today after a month, Moffat says "inconclusive". They have been working for a month with priority at the Assay Labs (I'm sure) and their results are "inconclusive". Does that sound strange to you. It says to me that I (Freeport) made some original statements have spent a month trying to verify them and can't. Therefore, the best I can say is "inconclusive".

4. When you started to back up your hypothesis with arguments that on the surface appeared to have logic, I believed that we might have the opportunity to explore the elements to arrive at a conclusion based on removing weak arguments. However your immediate switch to the switching core theory leaves me in doubt about your motives. You know that Strathcona mapped the deposit. Switching cores would immediately be detected.

5. Lets be clear and honest. I am long Bre-x. But I have an open mind. I don't mind selling my position if you or anyone else can provide arguments based on fact and or solid logic. I don't know what your motives are. Mine is to try to find the truth with the other interested investors - long and short on this thread.
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