In October 1995, there was a shocking announcement that Bre-X Mining was found to be sitting on massive gold deposits in Busang, Kalimantan.
Investors in the New York Stock Exchange (NYSE) may not be familiar with the Bre-X Mining scandal. That is no surprise as the scam was a quarter-century ago.
Bre-X was a Canadian mining company with Indonesian operations. It was a penny stock like the ones that litter the Singapore Exchange (SGX). It was so illiquid that it was traded by appointment.
