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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: thebeach who wrote (3736)1/17/1997 5:15:00 PM
From: yanker   of 28369
 
I have randomly perused the content of the " Bre- X " Club and have been generally amazed at the complacency I find in respect of the dispute in ownership of Busang 2 and Busang 3. Seemingly Bre - X can do no wrong, and of course it has always been the good guy hasn't it ?. There is however, another side to the story and it is not quite so favourable to Bre - X and its interpretation of events . I recall that even Walsh was quoted in early December ( in describing Bre - X's early days working in Indonesia ) that they "may have not crossed all the T's and dotted all the I's , but it was not intentional." H'mmmm.

The biggest risk a Bre - x investor faces is that Bre - X doesnt get as bigger slice of the pie as most of you assume .Far too much talk about grades and mutual adoration . Lets see some serious investigation and questions being asked.

But before I put out , I would like to ask whether there was ever any mention by Bre-X of the existence of a call option over part of the equity it acquired in 1993 in the Muara Atan joint venture in what is now referred to as the Central Zone ie Busang 1 in any published company documents eg annual reports or in a prospectus etc. ?

Enough for today.

Yanker

ps rumour has it there is a meeting this w/e in Indonesia on the claims re ownership . Only a rumour though.
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