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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Price and Value who wrote (3965)1/21/1997 12:45:00 PM
From: Gerald R. Lampton   of 28369
 
I think Bre-X is sitting pretty here.
Although the Indonesians are calling the shots, they cannot afford not to deal fairly with Bre-X. Otherwise, everyone else doing exploration in the country will stop.
If the Indonesians hose Barrick, Barrick is out of luck, but there's always Placer Dome and Teck to take its place. Damage to the reputation of the government would be less than if they hosed Bre-X.
If the Indonesians open bidding (while keeping Bre-X in), Bre-X might be able to get out of its deal with Barrick simply by arguing that the deal with Barrick was the product of misguided coercion and duress on the part of the Indonesians.

This is all just my view, but I think Barrick is in greater danger of losing it all than Bre-X is at this point. Any comments?
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