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

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From: scaramoucheone	3/25/2005 1:41:04 AM
	of 28369

Key Ontario Securities Commission expert witness attacked yesterday: By ANDY HOFFMAN Thursday, March 24, 2005 Page B3 Andy Hoffman is a reporter with Report on Business Television Lawyers for former Bre-X Minerals Ltd. chief geologist John Felderhof attacked the credibility of a key Ontario Securities Commission expert witness yesterday, suggesting a report by Graham Farquharson focused solely on aiding the regulator prosecute its insider trading case. Mr. Farquharson testified the OSC asked him to zero in on whether early warning signs or "red flags" questioning the validity of gold samples from Bre-X's Busang property in Indonesia should have been apparent to senior Bre-X officials. Mr. Felderhof has pleaded not guilty to four counts of insider trading and four counts of issuing misleading press releases. The OSC alleges he had confidential information when he sold $84-million worth of shares in 1996, shortly before Bre-X collapsed in one of the most notorious scandals in Canadian stock market history. Under cross-examination, Mr. Farquharson said the OSC did not ask him to identify any reasons why insiders might have believed Busang contained one of the largest gold deposits ever discovered. The president of Strathcona Mineral Services was hired as an independent expert by the OSC in 1997 and commissioned to write the report, which he delivered in 2000. However, Mr. Felderhof's lawyer, Joseph Groia, questioned his independence and described him as an "assistant" to the OSC. "Are you going to give [his evidence] more weight than you would a statement by a Commission prosecutor?" he asked outside the hearing. Mr. Felderhof observed from the back of the courtroom. Although he is under no obligation to attend, he travelled to Toronto from his home in the Cayman Islands last week. The above article was in the Globe and Mail today however their title to the article was completely misleading and basically inaccurate so I din't bother repeating it.

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