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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. -- Ignore unavailable to you. Want to Upgrade?

To: alan holman who wrote (28174)	9/2/1999 6:19:00 AM
From: George Hassen	Read Replies (2) \| Respond to of 28369

Dutchie Faces March Court Date TORONTO (Reuters) - A Canadian suspected in one of the century's most notorious gold scandals will finally get his day in court. The Ontario Court of Justice said Wednesday that John Felderhof, the former vice-chairman of Bre-X Minerals Ltd., is scheduled to appear in a Toronto court on March 13, 2000. Felderhof is charged with eight counts of violating Ontario securities laws in connection with the infamous Bre-X Minerals stock scam and its Busang Mine deposit located in the jungle of Indonesia. The securities commission alleged in documents filed in an Ontario court earlier this year that in the period April 24, 1996, to September 10, 1996, Felderhof ``sold approximately 2.7 million shares of Bre-X for approximately C$83.9 million with knowledge of a material fact pertaining to rights of Bre-X in relation to the Busang properties that had not been generally disclosed.' The document also claimed that he ``authorized, permitted or acquiesced in Bre-X issuing press releases containing resource calculations for the Central and Southeast Zones of the Busang properties that in a material respect were misleading or untrue.' Shareholders lost as much as C$6 billion on Bre-X stock, which skyrocketed from pennies to about C$280 a share on recommendations from analysts and then was split 10 for 1. It plunged to just 2-1/2 Canadian cents before being delisted after it was revealed that the Busang deposit contained only negligible amounts of gold. Felderhof was partially vindicated earlier this year after the Royal Canadian Mounted Police decided not to lay charges against him. Although Joseph Groia, Felderhof's Toronto-based lawyer, could not be reached for comment Wednesday, he hinted in May that his client -- believed to living the luxurious life in the Cayman Islands -- might be willing to return to Canada to have his day in court. ``Mr. Felderhof has been looking for an opportunity to have his day in court and if it turns out that these charges go ahead and is the first (Bre-X) court case to go ahead then I have no reason today to believe he's not going to do that,' Groia told Reuters in May.