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: bob bundy who wrote (7076)	3/12/1997 1:55:00 AM
From: Gerald R. Lampton	of 28369

My, oh my, aren't we full of complaints today! We appear to be making a lot of assumptions, too. > If they hadn't been so pompous they might have faired better. What pomposity? The failure to secure the COWs before doing exploration work? The failure to find local contacts? Talk about classic "blame the victim" post hoc rationalization! OK, just as the woman who got raped walked down a dark street at night in a short skirt attracting the attention of her attacker, Bre-X did fail to get its ducks in a row. But does that justify the attempted rape of Bre-X? I think if Bre-X had not done these things, her attackers would have invented some other reason to blame her for the attack, and you would now be blaming Walsh and company for those deficiencies. >As far as being out manouvered I would say that being ordered to do a deal with >Barrick by the government is being out manouvered. Having Freeport pushed down >their throat by Hasan and the governmnent is being out manouvered. What's not to like? Bre-X needed a strong ally. It found one in Hasan. Bre-X needed to get out from under Barrick. Hasan got it out from under Barrick. Bre-X wanted future participation in the deposit's upside. Bre-X has future participation. As for being forced to accept the JV deal, I could be wrong, but I do seem to recall reading somewhere an article which, in the last line, quoted Hasan as congratulating Bre-X for being the ones who came up with the idea. Unless you can come up with some proof to support it, I decline to accept your assertion that the impetus for this deal came from the Indoneisains and that Bre-X had it rammed down its throat. > Certainly 45% >is better than 25% I think this says it all. The JV that Bre-X came up with is better than any other deal on the table, and is, IMHO, a GOOD deal.

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