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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: alan holman who wrote (27820)4/3/1998 6:42:00 AM
From: Mr Metals  Read Replies (1) of 28369
 
THEY ALL KNEW THERE WAS NO GOLD....SO WHY DIDN'T THEY TELL US BEFORE SHE WENT TO ZERO.

Bre-X Minerals Ltd -

Post says board told in late 1996 tests showed no Busang gold

Bre-X Minerals Ltd BXMShares issued 2191033301997-05-07 close $0.09Friday Apr 3 1998See Barrick Gold Corp (ABX) In the News The Financial Post reports in its Friday, April 2, edition that after learning Barrick Gold had tested samples of Busang core and came up empty, the directors of Bre-X Minerals decided to set up an offshore indemnity fund for themselves, company minutes show. The Post's Sandra Rubin writes that that decision was made at a board meeting on December 15 1996, three days after Bre-X shares had moved on to the TSE 300 Index and were flying high. Exploration chief John Felderhof, chief executive David Walsh and vice-president Steve McAnulty, as well as independent directors Rolando Francisco, Paul Kavanagh and Hugh Lyons, were at the meeting. Douglas McIntosh and Leslie Morrison of J.P. Morgan & Co, Bill Edge of Republic National Bank and John Sabine, Bre-X's outside counsel, were among those also invited to take part. Talk of the troubling Barrick test results surfaced during an update on negotiations between Bre-X and Barrick. Mr Sabine told directors Barrick had reported that of 150 samples taken, 148 contained no gold. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

Mr Metals
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