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: Steven Lolas who wrote (3611)	1/14/1997 8:49:00 PM
From: Walter	of 28369

To All: A month ago some of us here pointed out how Placer should make a bid for Bre-X anyway as it would be a win-win for all. Now that they have, it's extremely bullish for all Bre-X shareholders. Looks like the Placer proposal is worth $28-$32 cdn. to Bre-X. Now we have a standard with which we can compare Barrick's offer. Shareholders would be extremely UPSET if Barrick's proposal isn't better. Another reason for a lawsuit? Chances are Slim and None that Barrick's offer will not be better than Placer's and Slim is just about leaving town. This may mean Barrick upping their previous offer. Peter Munk will do anything to be No. 1 and paying a premium for Bre-X is not a concern. IMO Barrick at least matching or exceeding Placer's proposal today is the worst we can do. The best scenario is a wide open bidding process where we will have at least 3-4 senior companies making serious bids. Placer's offer today may seem low but it would not surprise me to see a better offer in their back pocket. At this stage, Bre-x only has one way to go and that's up and up. From today's shareprice, there seems to still be a lot of skeptics out there. Another bonus with Placer's offer is that things will start moving quickly with all parties (Indo govt, Bre-X, Placer, and Barrick) involved. I expect many responses and news releases the rest of the week. Bre-X's drill result release Sunday night hinted at more drill results being released soon. Just what we need for the AUCTION. Bre-X at $26 cdn min. by Friday.

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