Bre X Gold Mining Scandal

Mar 30, 2018 Bre-X Gold Scandal. There have been many cases of white collar crime in Canada. None however, have been as strange, and seemingly straight from a movie plot as the Bre-X mining company scandal. When researching for an article to post onto the blog, I stumbled upon this case becoming shocked that something like this could happen, that this

Feb 01, 2017 Gold (2017) The story of David Walsh and the Bre-X mining scandal was made into a film and released last week in the UK. For legal reasons, Gold changed the names and locations of those involved in the scandal with the story moving to Reno, Nevada. David Walsh’s character was changed to Kenny Wells (played by Matthew McConaughey), and the

Jan 26, 2017 The deal would give his country a 40% cut of whatever gold was found, Bre-X 45%, plus also allow another more established mining company, Freeport McMoRan, in as a 15% partner. With that looming overhead, a suspicious fire at the Busgang site in early 1997 destroyed many of Bre-X

Jan 20, 2017 Gold: The movie about the Bre-X mining scandal that 'isn’t about Bre-X' Back to video. Gold, opening in theatres across Canada on Jan. 27, is the story of a brash, chain-smoking, pot-bellied mine prospector whose dream of finding the motherlode is all-consuming. Down and out, he meets a rugged geologist, a fabled “river walker,” who

Bre-X scandal haunts former president even at death June 5, 1998 Web posted at: 5:15 a.m. EDT (0915 GMT) TORONTO (Reuters) - David Walsh, the maverick Canadian mining promoter who died in

Aug 21, 2015 Eventually Suharto and Bre-X worked out a deal wherein the shares of the mine would be split among Bre-X, Indonesia, and a more established mining company, Freeport-McMoRan Copper & Gold

Mar 11, 2019 Bre-X’s fake gold mine. In 1989, Canadian businessmen David Walsh founded the Bre-X mining company, which would find itself at the centre of a scandal so infamous it inspired the 2016 film Gold.In 1993, the company bought land near the Busang River on the Indonesian island of Borneo on the recommendation of geologist John Felderhof, and within a year, the company had struck gold

Jan 24, 2017 The scandal. Back in the mid-1990s, Bre-X claimed that its Busang property in Indonesia was possibly the largest gold mine ever found, with its geologist even suggesting that the deposit could

Apr 02, 2017 FRAUD EXAMINATION - BRE-X MINERAL CASE STUDY 2 Fraud Examination - Bre-X Mineral Case Study Summary of the Key Points Bre-X Minerals was supposedly among the most valuable companies in Canada. The company convinced many of the mining experts by then that they owned one of the biggest gold mines ever discovered (Ro, 2012)

Jul 01, 2012 BRE-X: Inside The $6 Billion Gold Fraud That Shocked The Mining Industry. Sam Ro. 2012-07-01T09:22:00Z The letter F. An envelope. It indicates the ability to send an email. ... Bre-X

Mar 26, 1997 In 1996, Bre-X, a small Calgary-based mining company, announced that it had discovered gold deposits in Indonesia. Shares in the company began to

Oct 28, 2019 John Felderhof, geologist who played central role in Bre-X gold mining scandal, dead at 79 Back to video The scandal shook Canada’s capital markets along with the country’s reputation on the global stage, as the supposedly enormous gold find had drawn interest from industry giants including U.S.-based Freeport-McMoRan

The Canadian company Bre-X Minerals Ltd. didn't know about that when it bought rights to the site in 1993. But after Bre-X hired a high-living geologist to map the ore body, the deposit, along with the fever dreams that accompany gold, grew to monster size—by March 1997 that geologist was talking about a 200-million-ounce resource. You do the math at, say US$500 per ounce in mid-1990s dollars

Major mining companies such as Barrick Gold, Placer Dome, and Freeport-McMoRan Copper & Gold, among other top producers, fought an epic battle to get a piece of Bre-X’s Busang deposit. Indonesia’s

Bre-X Minerals Ltd., a major part of Bre-X based in Calgary, was involved in a major gold mining scandal when it reported it was sitting on an enormous gold deposit at Busang , East Kalimantan, Indonesia. Bre-X bought the Busang site in March 1993 and in October 1995 announced significant amounts of gold had been discovered, sending its stock price soaring

After the largest gold fraud of the century was exposed on March 26, 1997, Bre-X went bankrupt and its shares became worthless. The scandal cost investors an estimated $3 billion. -CBC News

The Bre-X scandal is the perfect example of a true fraud that results from dishonest and deceitful business ethics, morals, and principles. The Bre-X scandal is considered to be the biggest mining and gold scandal of all time, and one of the biggest stock scandals in Canadian history. The Bre-X scandal significantly damaged the Canadian Financial Markets and caused substantial reductions in consumer

May 26, 2007: Four wives, nine children and one gigantic mining scandal are all part of the legacy left by Bre-X geologist Michael de Guzman. But it’s hard to separate fact from fiction, even life