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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Goldberry who wrote (3916)1/20/1997 12:01:00 PM
From: Price and Value   of 28369
 
Why doesn't Bre-x and Barrick release the government's reply and the details of their offer? We get more details (government reply) from Reuters than from Bre-x. The government addressed the letter to Felderhof instead of Walsh. Sounds like the government doesn't respect Walsh at all.

Now, I bet Bre-x will say we can't release the details since we need to settle with our partners. And, Barrick doesn't want to release the details because than competing companies have a yardstick to judge competing bids. Although, I don't believe open bidding will happen unless they miss the deadline, and then it will not be Bre-x that is the beneficiary. The government has said here are the rules. Follow them and all will be well. If you don't follow them, you will face the consequences.

An aside: A person once picked up what seemed to be a friendly snake. He carried the snake around like a pet. Then one day the snake bit him and he asked, "Why did you bite me?" The snake answered, "You knew what I was when you picked me up." So, I don't blame people for being upset at the Indonesian Government but remember we all knew or should have known before we invested just what the Indonesian Government is, a snake. (That's not to say we don't have our snakes in the West)

James
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