WebThe Bre-X fraud wiped out billions of dollars worth of investments and spawned a string of lawsuits by cheated investors. When asked to explain his role in the fraud, Walsh said he was the... WebThe history books will add the Bre-X saga to other legendary frauds like the South Sea Bubble. When the Bre-X bubble burst, the stock that had soared from fifty cents in 1994 to the equivalent of $286 in 1996 was worth nine cents …
The Bre-X Fraud by Douglas Goold - Goodreads
WebThe Bre-X fraud began to quickly unravel on March 26, 1997 when the American firm Freeport-McMoRan, a forthcoming partner in excavating the Busang gold site, publicly announced that it conducted due-diligence core samples and found insignificant amounts of gold in the excavated samples. WebJan 23, 2015 · Bre-X’s exploration permits are revoked. 1997: January fire at Busang destroys many of the sample records. 1997: After many major miners express interest in Bre-X, eventually a joint venture is reached that gives Indonesia 40% share, Bre-X 45%, and … this weekend in corpus christi
Bre-X gold scam figure not guilty on all counts Reuters
WebThe Bre-X fraud wiped out billions of dollars worth of investments and spawned a string of lawsuits by cheated investors. When asked to explain his role in the fraud, Walsh said he … WebBefore the Bre-X fraud was unearthed, Bre-X stock rose from pennies per share in 1994 to 201.75 Canadian dollars on May 10, 1996, when shareholders approved a 10-for-1 stock split. Early shareholders selling at peak valuations after the stock split stood to enjoy a more than 500-fold profit. This rise reflected ever-expanding estimates of the ... WebAug 6, 2024 · Prior to being declared a fraud in May 1997, the Busang gold prospect in East Kalimantan, Indonesia (), was touted by its operator Bre-X Minerals, Ltd., as hosting one of the largest gold deposits in the world at the time [].Although Bre-X was listed on the Toronto Stock Exchange, it was not required to publicly disclose reports by an independent … this weekend in cincinnati ohio