Loading ...The Legend of BRE-X
In about 1994 I subscribed to Doug Casey’s Mining Digest
It was delivered by “Pony Express” mail
I usually got it 2 weeks after it was published
I vividly remember the hype and buzz around junior AND OBSCURE MICRO MINERS AT THAT TIME
Casey actually visited the companies he recommended
I also vividly remember the first report I got
It had a list of about 60 miners. he recommended choosing 1/3 of them randomly as they were all great potential stories
I did that . Unfortunately…I passed on one called Bre-X at about 30 something cents
And Now…………………………..The rest of the story
Just so we all know what kinds of business we may be investing in
Now its 20 plus years since Bre-X …here we go again ?
I bet one of Spock’s Rocks will follow a similar path
Which one will it be…and will we recognize when the helicopter is Revving up ?
ADDENDUM : I DID FINALLY BUY BRE-X AT $2 ON THE WAY DOWN (5000 shares)
In 3 weeks it was worth zero . I had the share certs believe it or not…lost them in a move
Fully
Bre-X was a fraud.
Subsequent to this Canada came up with standard 101-43.
Since then there has been many fraud since 2000. Countless companies have gone bankrupt or disappeared.
These companies stocks are like dead fish longer you keep more they stink.
A lesson learned with heavy price of tuition fees.
May be Plunger ought to write a book on investing in PM Juniors with examples from 1920 to today.
https://www.youtube.com/watch?v=KxX4niytWFU
Bre-X Minerals Gold Mining Scandal
Never had any Bre-X, but I remember the story well, especially the ending with the head geologist leaping or being pushed from a helicopter. They kept reporting false assay results and I watched it go from 2 bucks to 200 a share. Quite the story. Gold fever at its worst.