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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: R Steinberg who wrote (27620)12/31/1997 2:21:00 PM
From: R Steinberg  Read Replies (1) of 28369
 
Kavanagh fights U.S. lawsuit

By PAUL BAGNELL
Mining Reporter The Financial Post

Paul Kavanagh, a veteran Canadian mining executive and a former director of Bre-X Minerals Ltd., has asked a Texas court to rule
that he cannot be a defendant in a huge U.S. class action lawsuit.

Kavanagh, a geologist who joined Bre-X as an independent director in March 1994, argues in an affidavit that he already has been cleared of involvement in the Busang gold sample fixing scandal by a private investigation paid for by Bre-X.

In October, Forensic Investigative Associates Inc. of Toronto said its probe of the Bre-X affair led it to believe there was no evidence linking Kavanagh to the tampering of rock samples.

The FIA report concluded former Bre-X geologist Michael de Guzman spearheaded an elaborate "salting" operation, aided by several assistants.

Kavanagh's affidavit also says he does not have a U.S. residence and has never maintained a place of business in the country.

"I am currently a defendant in several lawsuits in Canada brought by Bre-X investors," he states.

"The Canadian litigation is premised on the same allegations as this action and seeks similar relief."

Prior to joining Bre-X, Kavanagh was senior vice-president of exploration at Barrick Gold Corp. from 1987 to 1993.

Earlier in his career, he held senior positions with Kerr Addison Mines Ltd., Newmont Mining Corp. of Canada and Rio Algom Ltd. He was Newmont's president between 1973 and 1975.
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