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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: thebeach who wrote (3725)1/16/1997 12:12:00 PM
From: John Sanz   of 28369
 
EVERYBODY, COME BACK TO REALITY. A few points to make:

1. I think a lot of people are dreaming about BRE-X. I have sold half of my shares at $24.50 and I expect to sell the rest in the next few days. The price of this company has increased several hundred folds in the last few years. Currently, the target price is only $29 and it is at $25. However, it remains a very speculative buy. Are you going to speculate just for a 20% return? If so, look at several other junior companies in Indo with a very low price which can double or triple in a few months.

2. Don't dream that the Indo government will give BRE the entire COW. Also, as Placer Dome said, "the negotiation process may take months". I have lived in Indonesia. for several years and you would not imagine how slow and political things are there. Many times logic and reasoning do not have anything to do with the final outcome. I would not be surprised if this entire process drags for another year (it has been several months now and still nothing clear). Are you going to wait for 1 year to see IF you can get 20% return? NOT ME.

3. Some of the small junior mining companies are just waiting to have their COW signed to release good news. Once this is done, price will soar. 100% in a few weeks is not unreasonable. Now they are trading at 50% discount. If you are going to speculate, do it for a larger profit margin, For 20%, just go to Blue Chip companies.

4. There are several good small companies in Indo. The one I like the most is INDOMIN. Check their web page at indomin.com. They have 8 gold properties and 3 diamond properties (that's a lot). They have two world class gold properties. One right next to BRE which has the same geological setting as the hughe BRE Busang deposit which is only 20 km South. Preliminary sampling has shown very high concentrations of gold in this area. They have not released details, and probably they will not do it until COW are signed. The other gold property is at Putissibau. This is a very large property (568,000 acre) in central Kalimatan (they already have a 6th generation COW in this property). They also have properties in Irian Jaya where a 52 million Oz. gold mine exist in operation. These group is well finacied (about 15 million $), with excelent properties and with very good contacts. By the way, for whatever is worth YORKTON issued a buy recommendation on INDOMIN a few weeks ago. For more info, check their web site and call their VP Chuck Forrest at (416) 955 9535.

Good Luck to all,
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