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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Bill Jackson who wrote (6962)3/8/1997 10:01:00 AM
From: Goldberry   of 28369
 
As indicated in my post #6941 I have decided against any major position in Bre-x, as I believe the major play to make any dollars is long term and for the reasons outlined in my post could be at more risk than worth. Short term I believe we have hit close to bottom (my one caveat there is that my good friend who has a ear close to very reliable info has heard that monkey Merukh is trying his darndest to get sympathy back home. If he succeeds then Walsh might be forced to settle with him. he supposedly has asked for 10% to go away. I am told that no one in Indonesia supports him to that amount but rumours persist that Bre-X is being urged by Hasan et al to give him a much smaller position so that the J/V can get underway. It sems that Freeport want guarantee that their position can't be diluted. I can't see Bre-X agreeing to this. IMO if Bre-X gives up even 1% to Merukh it will effect the stock price downward again albeit temporarily.

I have taken some of my profits and bought some calls. If the stock goes back to around $20.00 over next couple of months I can see a 50% gain in my calls. People who didn,t sell back in the low $20's. should be adopting this strategy IMO and selling out if they get a breakeven or profit.

Too many investors on this thread have taken an emotional attachment to this company and in my experience when you do this with stocks it clouds your judgement and hurt usually occurs. Reminds me of my high school days.

Graham
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