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TORONTO: The Bre-X saga came to an ignominious end Thursday when the upstart mining company filed for bankruptcy and removed its shares from trading on the Nasdaq Stock Market. Bre-X had already been dumped by the Toronto Stock Exchange following a plunge Tuesday in which Bre-X shares, once worth more than $200, closed at about 6 cents. At Tuesday's close, the company's market value was about $14 million, compared with its peak value of $4.5 billion last year. The bankruptcy will provide protection against a host of current and expected lawsuits against the company stemming...
TORONTO: "We share the shock and dismay of our shareholders and others that the gold we thought we had at Busang now appears not to be there." That was the Captain Renault-esque reaction of Bre-X head David Walsh to an independent report calling the once highly-touted Busang, Indonesia lode the biggest scam in the history of mining. In its report released Sunday, Strathcona Mineral Services said that gold from outside sources had been added to the crushed rock core samples that Bre-X had gathered as evidence of the supposed 200 million ounces of gold at Busang...
...city landmarks preservation commission for permission to keep his new awning. Then the underdog syndrome took over. While Choi started getting fan letters, Bernstein got 60 obscene phone calls. A writer from Gourmet magazine called her a snob. Customers like a little cause célèbre with then-caviar. Maybe it wasn't such a bad idea after...
DIED. Maurice Be Monte, 87, French navigator and radio operator on the first nonstop Paris-to-New York transatlantic flight; in Paris. In 1930 Bellonte and Pilot Dieu-donne Costes reversed Charles Lindbergh's 1927 course in their crimson Bre-guet sesquiplane Question Mark. Taking off from Le Bourget airfield, they landed 37 hr. 18 min. and 3,600 miles later at Curtiss Field in Valley Stream...
...second time that Foat, born Virginia Galuzzo in Brooklyn 42 years ago, has been arrested for murder. Her case became an instant cause célèbre last week among irate feminists, who say police are harassing Foat because of her politics but offer no evidence to support their charge. In 1965, according to Louisiana police, Foat lured Buenos Aires Visitor Moises Chayo out of a Canal Street cocktail lounge where she worked as a waitress and drove him to a deserted road outside the city. Police allege that Foat and her then husband, John Sidote, a bouncer...