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

To: Bill Jackson who wrote (27675)	1/12/1998 6:43:00 AM
From: Phil Jones	Read Replies (2) \| Respond to of 28369

CBC Radio carried a story on the weekend that John Felderhof is saying that investors should not have depended on his representations before investing in Bre-X, i.e. the famous estimate of 200,000,000 ounces. This is the basis of his defence in trying to free up the Cayman Islands properties that were frozen by a court action just before Christmas. I haven't seen a report in print on this, but there may be something in today's Globe & Mail.

To: Bill Jackson who wrote (27675)	1/12/1998 7:37:00 AM
From: Jordan Electron	Read Replies (3) \| Respond to of 28369

Soeharto crashed his economy because of drought-induced food shortages and diminished gold reserves after consulting with Freeport instead of Felderhof.

To: Bill Jackson who wrote (27675)	1/12/1998 9:25:00 AM
From: alan holman	Respond to of 28369

S.Korean gold drive nets over 40 tonnes - industry Reuters Story - January 12, 1998 06:23 %GOL %KR %EMRG %MET 04940.KS 23130.KS 00170.KS 01120.KS V%REUTER P%RTR By Jae Hur SEOUL, Jan 12 (Reuters) - A South Korean drive to collect gold from private citizens to raise badly-needed foreign currency had gathered more than 40 tonnes worth more than $400 million by last Saturday, industry sources said on Monday. "We have netted more than 40 tonnes," said a source close to the campaign. Most of the items brought in for sale were rings, necklaces, bracelets, hailpicks, keys, coins, bars and turtles, a common gold item held by Koreans. The gold-selling campaign, which kicked off last Monday, will last till January 31 through 446 branches of the Housing and Commercial Bank, a main sponsor of the nationwide drive. The success of the campaign has spawned a flurry of efforts by other financial institutions to collect gold, among them the bank of the National Agricultural Cooperative Federation in co-operation with Samsung Corp and Munhwa Broadcasting Company. "We started a nationwide campaign today to help the country's economy and it will continue through our 2,210 branches till February 21," a bank spokesman said. The collected gold would be exported by Samsung Corp after refining and Munhwa Broadcasting Co would support by advertising. A spokesman of Korea Exchange Bank said it started a similar campaign with Hyundai Group and the Korea Broadcasting System from Monday till February 14 through its 60 representative branches in the country. Kookmin Bank will launch another campaign with the Korean Federation of Community Credit Cooperatives, Seoul Broadcasting System, LG Metals Corp and LG International Corp from Tuesday till February 14, the bank said in a statement. Local bullion traders feared the gold-collection rush by local banks and corporations could undermine the international gold price unless sales abroad were centralised, but there was little sign of any efforts to centralise these gold sales at the moment. -- Jae Hur, Seoul newsroom (822) 727 5651 -- email: seoul.newsroomreuters.com

To: Bill Jackson who wrote (27675)	1/12/1998 9:45:00 AM
From: alan holman	Read Replies (1) \| Respond to of 28369

S.Korean gold drive nets over 40 tonnes - industry Reuters Story - January 12, 1998 06:23 %GOL %KR %EMRG %MET 04940.KS 23130.KS 00170.KS 01120.KS V%REUTER P%RTR By Jae Hur SEOUL, Jan 12 (Reuters) - A South Korean drive to collect gold from private citizens to raise badly-needed foreign currency had gathered more than 40 tonnes worth more than $400 million by last Saturday, industry sources said on Monday. "We have netted more than 40 tonnes," said a source close to the campaign. Most of the items brought in for sale were rings, necklaces, bracelets, hailpicks, keys, coins, bars and turtles, a common gold item held by Koreans. The gold-selling campaign, which kicked off last Monday, will last till January 31 through 446 branches of the Housing and Commercial Bank, a main sponsor of the nationwide drive. The success of the campaign has spawned a flurry of efforts by other financial institutions to collect gold, among them the bank of the National Agricultural Cooperative Federation in co-operation with Samsung Corp and Munhwa Broadcasting Company. "We started a nationwide campaign today to help the country's economy and it will continue through our 2,210 branches till February 21," a bank spokesman said. The collected gold would be exported by Samsung Corp after refining and Munhwa Broadcasting Co would support by advertising. A spokesman of Korea Exchange Bank said it started a similar campaign with Hyundai Group and the Korea Broadcasting System from Monday till February 14 through its 60 representative branches in the country. Kookmin Bank will launch another campaign with the Korean Federation of Community Credit Cooperatives, Seoul Broadcasting System, LG Metals Corp and LG International Corp from Tuesday till February 14, the bank said in a statement. Local bullion traders feared the gold-collection rush by local banks and corporations could undermine the international gold price unless sales abroad were centralised, but there was little sign of any efforts to centralise these gold sales at the moment. -- Jae Hur, Seoul newsroom (822) 727 5651 -- email: seoul.newsroomreuters.com ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ I read a paragraph in Douglas R. Casey book, "Lifetime Getting Rich In An Age Of Crisis Investment Opportunities" published in 1994, page 112; " in 1978 I practically begged readers to load up on gold and silver. Gold was selling for $270 an ounce and silver was going for $6.50. By 1980, gold shot up to $850 an ounce, and silver nearly hit $50. " But investors found out fast that there's nothing magic about any investment. "Gold dropped from a high of $850 in Feruary to $450 in March. By 1992 it reached a low of $298. " IMO (al holman), the prices of gold and silver are very similar, and I wonder if the prices will follow the same path as between 1978 and 1980; or is it another situation. It appears, those in control of the world economy, are accumulating raw gold at the most cheapest prices. Can you imagine how much gold you can buy, and then if the gold market triples; how much wealthier you would be ? Well, as usual, PLEASE DO YOUR due diligence, remember; this is only my opinion.