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: hugh thorne who wrote (3964)	1/21/1997 12:28:00 PM
From: Price and Value	of 28369

The ball is now in Barricks's court. If it solves the partner problems, the deal will go through, barring any other strange and unpredictable turn of events. Barrick doesn't want open bidding and it can put open bidding to its grave by closing this deal. There's no doubt that the Indonesians are calling and approving all the shots. Bre-x has hardly no influence over the outcome of Busang other than to refuse to deal and consequently take a big risk. The encouragement of Placer to bid may have just been a way to put pressure on Barrick to increase the interest of Indonesians. Note that Reuters quoted Barrick as saying the letter only recognized PT Askatindo (Busang 2) and PT Amsya (Busang 3) as legal partners. No mention was made of Murukh. Lets hope that Bob Hasan will bargain reasonably. Askatindo and Amsys should get their original 10% minus the 1% cut for the government. But how much more will he demand? Bob has time on his side and once again Bre-x has been disadvantaged in negotiations, but this time Bre-x has company with Barrick. The governement may have even told Bob what it wants for Indo ownership. James

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