BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: Cheeky Kid who wrote (19991)	4/30/1997 3:32:00 PM
From: Augie Goldspechkt	of 28369

I think Freeport is firming up there property rights to BUSANG - ie. they've sent out so many signals (no gold), (we'll back out) and these have been picked up by Barrick & Placer & Indos. who wouldn't mind stepping in if there is gold there. So far anything Freeport has said is bad so anything they say that is neutral can be interpreted to be good news for Bre-X shareholders. I feel they're sending out a signal to others that their not going to let Busang slip away from them until they've had a good long look around. Since they've never had anything good to say this positive. Also, it means Freeport is not afraid of the lawsuits and Jim Bob has got the Board & big investors behind him. Also, it means it's not over Monday with the Strathcona report. Strathcona report is now just a starting point. IMO - won't know the size of the reserve until June 30th at least. Here's a bad scenario - Strathcona report is bad news (fraud) - flushes out all the small investors. Freeport walks in and does full DD and hey (de Guzman was right - there is something here). That way EVERY small investor would get shafted.

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