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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Joe Hartenbower who wrote (5779)2/19/1997 9:17:00 AM
From: Bob Fairchild   of 28369
 
Bre-X was not forced to do the deal with Freeport. The Government had dictated that they complete their deal with Barrick. This was supported by the media and spread across the World. Bre-X could have made their deal with Barrick and would not have risked the wrath of the Indo regime. Even Bob Hassan would not have been left out through his participation with Askatindo and Amsya. What I ask myself is why they went for the deal with Freeport? To those in the know it was the best deal going. Bre-X didn't want to be left with 22.5% stake (Barrick) or 30% stake (Placer), they knew that in the best interests of their LOYAL shareholders that being left with the 45% stake in an operating mine was the best deal of the three. The reasons for this will become apparent to all over the next few weeks but don't expect too much information until the COWS are signed !
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