The 48th Sydney Mining Club Forum
and NM Rothschild & Sons Presents an exclusive with
Busang Expert Dr Phillip Hellman
“The Scientific Story Behind the
Great Bre-X Swindle!”
Tattersalls Club, November 1st at 12.30 p.m.
It was rated as the greatest swindle in global corporate history. Shareholders lost billions in 1997 when PT Freeport Indonesia found only trace amounts of gold in its assays of the (alleged) world’s largest gold deposit at Busang. Brokers, regulators and investors wanted heads on sticks. But progress is slow and right now the Ontario Securities Commission is seeking the removal of the judge from the halted trial of Mr John B Felderhof. Phillip Hellman was one of ‘The Sheraton Project’ team that after the death of de Guzman was asked to unravel the extraordinary Busang events that, embarrassingly, saw a Who’s Who of big name consultants hired to verify the find – also stung. Salting is the oldest trick in the book – and they missed it. Phillip has been working on it for four years. This exclusive Sydney Mining Club presentation will challenge many of the ‘facts’ of the drama, explain why the salting succeeded and just might rewrite the biggest mining news story in living history. Perhaps no-one on site knew what was going on and maybe it was all done at the office on the coast at Samarinda. Using the terminology for unexploded ordinance, immediately after the Bre-X explosion many rushed in pointing to ‘red flags’ that ‘should have been’ spotted. But maybe you and I would have missed it! The science behind this impeccable salting scam is as intriguing as the colourful cast of characters which has been pilloried and chased by the media and regulators ever since in an attempt to find justice for the wrecked lives and careers that this faux gold rush left behind. Well, really it damaged our entire industry, didn’t it? Hellman is prepared to stand in defense of Felderhof. We’re pleased he has agreed to use our Club as the place to open his startling rethink of what one book sensationally called ‘a tale of greed, gullibility and broken dreams’. See pictures of people and places. And why then is there a mini gold rush happening at Busang right now? Don’t miss out – book now! AusIMM students $10, AusIMM, AIG & SMEDG members $30, non-members $35. NOTE – LATE BOOKINGS $10 EXTRA!!! The Tattersalls Club is at 181 Elizabeth St. Ties and Jackets no longer required. Thank you for supporting your Sydney Mining Club and for your interest in the current affairs and issues that drive our industry.
Booking Information for 1st November Fax bookings to 02 9416 2583 E-mail to: ausimm@lec.net.au
(Other inquires call 02 9416 0666 and ask for Sharon Johnson)
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____ AusIMM, SMEDG, AIG Member $30 _____ Non Member $35 _____ AusIMM Student $10
RSVP BY 5pm, Tuesday 30th October Note – late bookings $10 extra!!
The Tattersalls Club is at 181 Elizabeth Street Sydney adjoining the Sheraton on the Park. There has been a relaxation of dress rules at the Tattersalls and ties and jackets are no longer required (but do wear the rest).
Dr. Geoff Derrick’s highly relevant and prescient Stockex Report of early 1997
Other Talks including those by Geoffrey Blainey, Ray Evans, Dick Zandee and Paul Gilding.
and Trevor Sykes.