Bre-X Minerals Ltd.

playfullfellow · October 3, 2004

Yes, and a good and fair one that has concerns for our environment. There is more to consider than

Get real Caesar, the NEP had absolutely nothing to do with the environment. 60 billion dollars was taken from Alberta in less than 4 years and spent in Ontario and Quebec to save their industries during financially difficult times. It was also Ottawas attempt to keep foreign ownership out of our resources. About the only good investment that Ottawa made with that money was Petro Can but now the Liberals are selling that to gain the short term money.

kimmy · October 3, 2004

Bre-X was an Alberta company, or was it?

I guess Albertans are crooked, crooked people.

It appears that Bre-X boss David Walsh was a Montrealer. They must be extremely crooked as well.

Interesting article - who is Albert Walker?

Just your average investor-frauding, daughter-screwing murderer.

http://www.thebiographychannel.co.uk/new_s...&showgroup=1144

Sounds like a terrible person. An Albertan, most likely.

-kimmy

maplesyrup · October 4, 2004

kimmy....you are jumping to some strange and probably incorrect conclusions.

Do you think David Walsh was a crook? I don't. I think he got tken by the Suhartos, the former Indonesian Royal Family, just like many of the Bre-X investors.

Why do you think the RCMP dropped their investigation?

maplesyrup · October 7, 2004

Court approves settlement of U.S. lawsuits over Bre-X Minerals fraud

Canadian Press
October 6, 2004

VANCOUVER (CP) - Sasamat Capital Corp. says it will give up $9 million and 10 per cent of its shares as part of a settlement of U.S. lawsuits over Canada's multibillion-dollar Bre-X Minerals fraud in the 1990s.

Sasamat (Pink Sheets:SSALF) said Wednesday the settlement was recently approved in a U.S. court for the Eastern District of Texas, at Texarkana. It settles all claims by U.S. buyers of shares of Bre-X Minerals or Sasamat Capital between Jan. 17, 1994, and March 26, 1997, Sasamat said in a release.

"With the granting of this order by the Texas court and the chance of our company facing new lawsuits related to Bre-X being substantially reduced, our company is faced with much less uncertainty," Sasamat president Michael Smith said.

Sasamat is required to pay $9 million to Bre-X's trustee and transfer to Bre-X the 49 million common shares of Bre-X owned by Sasamat.

In addition, Sasamat will receive 800,000 of its common shares now held by Bre-X for cancellation, and Sasamat will be released from all claims by Bre-X and the shareholders included in the settlement.

A pool of Sasamat common shares equal to about 10 per cent of the total is to be distributed to satisfy claims by everyone, other than certain trade creditors, who filed a claim against Sasamat.

What do you make of this?

maplesyrup · December 6, 2004

What is just as big a scam in this ongoing battle is Canada's investment community, the TSE, the OSC, the pundits such as National Post Financial Editor Diane Frances, other book authors, etc. Not one of them was able to pinpoint who was behind this salting scheme.

It certainly does not appear that John Felderhof had any awareness of the fraud. But of course our Canadaian elite is looking for a scapegoat, someone they can get their hands on, to take the heat off themselves.

BRE-X BOSS WANTS TO RETURN AND CLEAR NAME; INSIDER-TRADING TRIAL RESUMES

The threats have stopped and former Bre-X Minerals executive John Felderhof believes it's time to return to Canada to clear his name.
And that might mean a trip to Toronto during his trial for insider trading and issuing false news releases, which picks up tomorrow after a three-and-a-half-year lull.

Felderhof, in his early 60s, refused to be interviewed by the Sun but his longtime Toronto lawyer, Joe Groia, said the Dutch-born, Halifax-raised geologist desperately wants to salvage his tattered reputation.

"John feels he has not done anything wrong from a legal standpoint. If he were having this conversation, I think he would say that he, like so many other people, regrets very much not figuring out earlier there were problems in the process," said Groia.

The case against Felderhof involves eight charges laid by the Ontario Securities Commission on May 11, 1999.

More than seven years have passed since the Calgary-based company's stock collapsed amid the biggest mining scandal the world had ever seen.

The once-tiny firm's market value dived to almost zilch, from about $5 billion, after samples from its Busang gold find, deep in the jungle on the Indonesian island of Kalimantan, proved to hold little gold at all.

Once said to contain a staggering 200 million ounces, it'd be worth more than $90 billion at today's gold price.

Groia said Felderhof received threats of violence in years following the scandal, "but not in the last two or three years.

"It's why we've been a bit cautious about his whereabouts. I can say he spends equal parts of the year between Europe, Canada, the Cayman Islands and Indonesia. He lives in Jakarta and spends time in other parts of Indonesia as well - but not Busang.

"We're talking about him possibly attending the trial once things get going in February," Groia said.

Tomorrow's resumption will last about two weeks before another lull until Feb. 28.