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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: R.M.C. who wrote (24744)5/23/1997 1:05:00 PM
From: mikesloan   of 28369
 
Placer Dome CEO says this could have happened to anyone so folks please stop dumping on David Walsh and the people in the Calgary Office. They have been defrauded just like the rest of us.

> Van Sun/Southam says Placer CEO calls Bre-X scams unavoidable
>
> Bre-X Minerals Ltd BXM
> Shares issued 219,103,330 May 7 close $0.09
> Fri 23 May 97 In the News
> Also Placer Dome Inc (PDG)
> The Vancouver Sun carries a Southam dispatch in its Friday edition that
> reports that the head of one of Canada's senior mining companies says that
> it is impossible to devise regulations that will avert a scam like Bre-X
> Minerals. Reporter Jonathan Manthorpe notes that Placer Dome president and
> chief executive John Willson says that if you have people as clever, as
> dedicated, as secretive and technically brilliant as these were, you are
> not going to be able to avoid something like this. Mr Willson told members
> of the Canadian Chamber of Commerce in Hong Kong that there is a lot of
> talk about more regulation, but it is difficult to conceive how you can
> prevent it from happening again. Mr Willson says that although the Bre-X
> fraud has damaged Canada's reputation as a major player in Asia's
> fast-developing mining industry, the incident has on balance been a useful
> shake-out, especially for large well-established companies like Placer
> Dome, who now have their calls returned by desperate juniors.
> (c
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