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Weekend reading.
2016’s Top Hedge Fund Manager Relives History’s Greatest Gold Scam
There have been scams before Bre-X, there have been scams since and there will be scams going forward, but my hat is off to you Michael, as you read this article, Bre-X has won the Academy Award in the category of Best Mining Scam Ever.
They even made a new feature movie about this as Plunger pointed out
Its called “Gold”
Yes I saw it. We here need t o be vigilant of these scams. Some scams happen even without stock going higher. I have noticed one.
Thanks Bikoo …I read the article…fascinating !
I was there on site, a few years ago. I stayed in their original mining camp buildings which are still there and used by the timber industry. There is gold in all the rivers there, as many of the locals pan the rivers and live off the proceeds. But nobody has discovered the source or origin. Its there somewhere, but the terrain is unbelievably difficult and in the wet season its impossible. Helicopter is really the only way to get around.
Some one need Keith Barron to get interested in this. He is tied up with Ecuador. Thats how he found Aurelian project.
Here´s another big time scam, Xcelera.
In short, the story about a Swede that promoted a company with a technology that would “accelerate the internet”. Nothing was real or ever existed.
Deutche Bank is after him now again in 2017, but that is for his management of his large mutual fund back during the financial crisis…
He was born and brought up in the most prestigious part of Stockholm, went to Harvard and socialized with all the right people.
https://www.forbes.com/sites/nathanvardi/2014/03/05/the-riddle-of-alexander-vik/#3f272d3f6460
https://www.youtube.com/watch?v=V4tqxzDzf8k
Documentary, mostly in English
He bought Rockefeller´s big villa outside New York and a peninsula in Monaco, among numerous amazing things.
He became a multi US dollar billionare and the company´s turnover never exceeded 300 000 US dollar.
The stock is often cited as the one that has risen the most in the history of the world.
The last sentence should have the ending “…per circa a year.”