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Hi Don,
Wow, that was some commentary. All I can say is that I sometimes feel the same way as you do. If it is any consolation, my Bre-X losses are in the millions. I sometimes catch myself staring into the empty space wondering how this has come to be. I find myself going over the published reports again and again, trying to determine when, how, and why the salting occurred. I just keep coming back to the conclusion that there is gold in Busang I and some part of Busang II.
About Bre-X and Walsh. I am a supporter of Walsh because he has had the courage to stay behind and face the investigators, media, shareholders, politicians, and the public at large. Until he is proven guilty, I will continue to support him. I guess we can argue till we are blue in the face that Walsh as a CEO should have known, but if you had any idea how corrupt the South-East Asian countries are, you would appreciate the difficulty that Walsh has had to manage the Busang operations.
About Felderhof. Well I don't know much about him. IMO, he should have stayed back with Bre-X to fight back allegations. I can only think that he has been advised by his legal council not to give any statements. If he is guilty, he certainly deserves what you have written.
As far as the Bre-X tragedy is concerned, the responsibility also lies with the media, the major gold producers, analysts, corrupt politicians, etc. etc.
I hope you get over Bre-X. As for myself, I have written off Bre-X as a bad dream and have started to rebuild.
Regards, Lalit Jain |
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