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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: alan holman who wrote (26596)8/22/1997 9:48:00 PM
From: Keith F. Wunderlich   of 28369
 
Alan,

In my opinion the initial fraud was perpetrated by Walsh, Felderhoff and
de Guzman. In my opinion any gains associated with this fraud should be
taken from them as part of the justice action against them.

As far as re-distribution of the seized gains, I do not have a firm belief
as to what is fair. I can sympathise with investors who have lost money
on this stock. I can also see various other uses for the money. The
end result will need to serve that which is just for those affected.

This hoax has impacted many and I really cannot even say that I have
grasped the full import and scope of those affected. Do we consider
only small shareholders or all shareholders? Do we look at Canada only?

There are trickle down effects, from many angles, in many countries.
I sympathize with the person who has to make that decision, when that
time comes.

It is interesting to see some posters on the thread are not even
considering that Walsh is guilty. Some of them are not even people paid
to post on the thread for spin and damage control.

Just for fun, imagine that you are the CEO of a company that is considered
to have the largest gold find in history, located in Indonesia. Your
VP in charge of explorations is with you in Canada.

You get a phone call from an irate executive of a company doing due
diligence on you property, telling you that you have no economical
gold and the gold that was there is different from your previous
results indicating salting.

Do you a) immediately get on the phone to the TSE, have the stock
halted, have your secretary book you and your VP Explorations
on the next flight to Indonesia. Arrive there and sort out
whether a mistake has been made. Handle the results in a manner
that is demanded by your fiduciary duty to your investors.

or b) send the field guy and hope he can solve it. If he happens to
commit suicide on route, well I guess you should probably well
maybe get around to getting your VP to somehow see if he just
possibly find the time to get it into his schedule to hopefully
get there 10 DAYS LATE . If he is not able to sort it
out, well should you go, what can you do, your just the money
guy. Would you be struck with the perfect solution that would
solve the whole mess. Yes...yes....send the VP on vacation to
the Cayman Islands and tell the reporters it is a well deserved
vacation that is needed.

I suppose my opinion is clear.

Keith

PS. Have books actually been put on the market? By whom? Which
bookstore? I wouldn't mind reading all about it. Hope it is not as long
as 26,000 posts. Or at least not as slanted.
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