SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Walter who wrote (28000)6/22/1998 10:34:00 AM
From: Mr Metals  Read Replies (1) of 28369
 
Bre-X Minerals Ltd -

Post says Freeport knew something smelled at Busang immediately

Bre-X Minerals Ltd BXMShares issued 2191033301997-05-07 close $0.09Monday Jun 22 1998The Financial Post reports in its Saturday, June 20, 1998, edition that the first geologist allowed by Bre-X Minerals to carry out independent tests on Busang knew something was fishy before seeing a single drill result, says the man who led on-site due diligence work for Freeport-McMoRan Copper & Gold. The Post's Sandra Rubin writes that Colin Jones, who was Freeport's vice-president of exploration in Indonesia, says his team was struck by serious discrepancies and concerns the moment they set foot in the jungle camp on March 1, 1997. Dozens of geologist and mining engineers from investment banks and brokerages had marched through Busang as Bre-X's stock soared, but none reported signs of trouble Mr. Jones says it's "mindbogglingly amazing" no one spotted the scam before him. Mr. Jones said the Freeport team was alerted by a series of clues, starting with senior Bre-X technical staff who were in the dark about the most basic operations. He says the Bre-X technical staff didn't even know where the drill holes were. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News