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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: alan holman who wrote (28018)7/29/1998 9:31:00 AM
From: Mr Metals   of 28369
 
Those BUMS at ABX could of saved us a fortune.

Barrick Gold Corp -
Post says lawyers argue Barrick had "role" in Busang fraud
Barrick Gold Corp ABX
Shares issued 375,645,771 1998-07-28 close $26.4
Wednesday Jul 29 1998
See Bre-X Minerals Ltd (BXM) In the News
The Financial Post reports in its Wednesday, July 29, 1998, edition that Barrick Gold should be forced to answer for its role in the Bre-X Minerals fraud because it failed to warn investors of the "bombshell results" when it tested 135 core samples and 130 showed no gold, says a filing in a Texas-based class action lawsuit. The Post's Sandra Rubin writes that Barrick has asked it be dropped from the suit because it was conducting limited due diligence on Bre-X's Busang property and had no direct duty to Bre-X investors. Barrick has also said it was bound by confidentiality agreements. But lawyers behind the class action argue Barrick made statements aimed directly at Bre-X shareholders when it promised to be "fair" in any partnership deal to develop the Busang deposit, and that changes everything. The Texas filing says, once Barrick started making such statements targeted at Bre-X shareholders, it assumed an important duty; to make full and complete disclosure. Barrick violated that duty, lawyers say.

(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

Mr Metals
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