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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.
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To: Gary Melnyk who wrote (7266)3/15/1997 6:44:00 PM
From: william smith   of 28369
 
Thanks for your points,

One point I need to clear up for you that FCX is fronting 400 mil. for the mine. They have also establish monies for the rest of the project. These monies will be paided back to the lender over the life of the mine. Much like a house and your local bank. The only way this stock will drop to $12 is if the claim jumper gets 30% of bre-x 45% and no more gold is proven on Busang or if the COW is not given. I also believe the market tends to over sell a stock. This stock is pretty close to being over sold. Your suggesting an 30% or so drop in stock value. I agree that bre-x is a long term stock and I believe the market supports your point. It takes alot for a long term stock to drop 30%. This would be like the 1987 crash! If all the above happens you will be right again.

Will
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