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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: alan holman who wrote (27198)10/4/1997 1:47:00 PM
From: alan holman   of 28369
 
THE BRE-X
SCANDAL

Felderhof seen
as key to
Bre-X scandal

Shares close at
8.5« -- 'it's just
a shell now'

Fleming defends
TSE's role

Indonesia
tightens mining
regulations

Stock meltdown
revives plan for
national
securities
commission

Analysts'
objectivity under
fire

The moral of the
story? Greed
knows no
frontiers

THE BRE-X
ARCHIVE

Wednesday, May 7, 1997

Bre-X ignored advice on
testing methods

By DAVID THOMAS
The Financial Post
Despite being advised to change its procedures last year, Bre-X
Minerals Ltd. continued a controversial practice that resulted in the
destruction of damning evidence.
In a review of the Busang project in Indonesia for Bre-X,
Toronto-based consulting company Mineral Resources
Development Inc. (MRDI) advised it to stop crushing its entire
drill cores and to start saving half to allow for verification by third
parties.
"I guess [crushing the whole core] was a convenient way not to
have check core samples available," said Wesley Johnson, a
professor and analytical chemist at Okanagan University College in
Kelowna, B.C.
Customary mining practice involves splitting the core length-wise
and saving half to allow for independent checks.
It is now thought that tampering with Bre-X rock samples took
place after the core was broken or crushed.
Checks on any retained halves could have exposed Busang as a
fraud much earlier in the scam, mining experts insist.
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