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Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

4:00 PM EST

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To: Bobby Yellin who wrote (33197)	5/5/1999 6:39:00 PM
From: Enigma	Read Replies (1) of 116762

"ps if that is right and if Peter Munk was one of the few who knew that BRE-X was a fraud..what are the implications if any?" Flawed premise - Barrick hadn't done its dd on Bre-X - and would have done so just as Freeport did - as soon as they signed a deal with Bre-X and the other parties. They may have had their doubts, but the prize seemed to be so rich, that it was worth signing a deal subject to the usual escape clauses. Munk realises they had a lucky escape (not even that really - who thinks the worst of Freeport now?) - if you knew anything about Peter Munk you would know that he would not want to get into anything fraudulent - his reputation is most important to him, and he would have, simply, have had far too much to lose, and this has its roots in his early business history in Canada. d

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