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: alan holman who wrote ()	5/3/1997 8:26:00 PM
From: Ray Resendes	of 28369

From the perspective of a lawyer with securities law experience, I offer the following comments on the "delay " in the release of the Sthrathcona report, which I consider to be a good sign for the following reasons: 1.Sthrathcona must have known the assay results by last Thursday at the latest. If these showed a "no gold" finding Sthrathcona, in my view ,would be duty bound to immediately notify Bre-X of such. It could not simply "sit " on such evidence of fraud without exposing Strathcona itself to some litigation risk from Bre-x shareholders. 2. David Walsh, in turn , would have had to have released these results immediately (i.e. before the opening of trading on Friday or earlier) after being informed of the "no gold" finding in order to prevent a possible litigation risk against him personally. In other words, one cannot simply sit on evidence which strongly suggests fraud without immediatele disclosure. Bre-X has very good legal counsel and I am sure they have been propoerly advised in this regard .IMHO delayed news here is more likely to result in good news.

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