BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: Michael Brody who wrote (3607)	1/14/1997 4:08:00 PM
From: william smith	of 28369

TORONTO, Jan 14 (Reuter) - Placer Dome Inc's offer to merge with Bre-X Minerals Ltd to control the huge Busang gold deposit in Indonesia does not interfere with Barrick's designs on Busang, a Barrick spokesman said on Tuesday. "Their proposal doesn't affect our proposal with Bre-X," said Barrick spokesman Vince Borg. When asked if there was any room for Placer to move into the bidding process for Busang, Borg said "No." Barrick's proposal with Bre-X meets the guidelines set out by the Indonesian government, Borg pointed out. "These arrangements reflect mutually agreed upon terms." But Placer Dome's bid does not have the Indonesian government's blessing, he said. "Placer's proposal misses the mark because it doesn't provide for a contract of work. That's what's required here," Borg said. Bre-X and Barrick are waiting for a response from the Indonesian government about a proposed joint venture deal presented to government officials last month. The government needs to resolve a couple of issues before the Barrick proposal can go ahead, Bre-X chief executive David Walsh said

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