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Bre-X Minerals
Bre-X was a group of companies in Canada. Bre-X Minerals Ltd., a major part of Bre-X based in Calgary, was involved in a major gold mining scandal when it reported it was sitting on an enormous gold deposit at , East Kalimantan, Indonesia. Bre-X bought the Busang site in March 1993 and in October 1995 announced significant amounts of gold had been discovered, sending its stock price soaring. Originally a penny stock, its stock price reached a peak at CAD$286.50 (split adjusted) in May 1996 on the Toronto Stock Exchange (TSE), with a total capitalization of over CAD $6 billion. Bre-X Minerals collapsed in 1997 after the gold samples were found to be fraudulent. Busang's gold resource was estimated by Bre-X's independent consulting company, Kilborn Engineering (a division of SNC-Lavalin of Montreal), to be approximately . Reports of resource estimates of up to were never made by Bre-X though the property was described as having this potential by , Bre-X's Vice-President for Explorat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mining
Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the economic viability of investing in the equipment, labor, and energy required to extract, refine and transport the materials found at the mine to manufacturers who can use the material. Ores recovered by mining include metals, coal, oil shale, gemstones, limestone, chalk, dimension stone, rock salt, potash, gravel, and clay. Mining is required to obtain most materials that cannot be grown through agricultural processes, or feasibly created artificially in a laboratory or factory. Mining in a wider sense includes extraction of any non-renewable resource such as petroleum, natural gas, or even water. Modern mining processes involve prospecting for ore bodies, analysis of the profit potential of a proposed mine, extraction of the desire ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Siti Hardiyanti Rukmana
Siti Hardiyanti Rukmana (born 23 January 1949), known as Tutut Suharto, is an Indonesian politician who is the eldest daughter of former Indonesian president Suharto and the wife of Global Mediacom (then known as Bimantara Citra) co-founder and former RCTI's commissioner Indra Rukmana. Business career Tutut built part of her fortune as a major shareholder of the Citra Lamtoro Gung Group, with interests in more than 90 companies ranging from telecommunications to infrastructure, including tollway projects in Indonesia, Myanmar and the Philippines. Most of Indonesia’s toll roads were built and operated by the stateowned firm Jasa Marga, with untold markups and opportunities for skimming and theft for oligarchs as the projects were completed. In 1989, Suharto issued a decree granting his daughter Tutut 75% of profits from all toll roads her group operated jointly with Jasa Marga, driving costs up still further. Time magazine in a May 1999 cover story titled Suharto Inc. estimated h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barrick Gold
Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries. It is headquartered in Toronto, Ontario, Canada. It has mining operations in Argentina, Canada, Chile, Côte d'Ivoire, Democratic Republic of the Congo, Dominican Republic, Mali, Papua New Guinea, Saudi Arabia, Tanzania, the United States and Zambia. In 2019, it produced 5.5 million ounces of gold at all-in sustaining costs of $894/ounce and 432 million pounds of copper at all-in sustaining costs of $2.52/pound. the company had 71 million ounces of proven and probable gold reserves. Barrick has met or beaten market consensus on its financial and operating results for eleven consecutive quarters as of Q3 2021. Barrick had been the world's largest gold mining company until Newmont Corporation acquired Goldcorp in 2019. Barrick expects to produce between 4.6 and five million ounces of gold and between 440 and 500 million pounds of copper in 2020. Chief executive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Suharto
Suharto (; ; 8 June 1921 – 27 January 2008) was an Indonesian army officer and politician, who served as the second and the longest serving president of Indonesia. Widely regarded as a military dictator by international observers, Suharto led Indonesia through a dictatorship for 31 years, from the fall of Sukarno in 1967 until his own resignation in 1998. The legacy of his 31-year rule, and his US$38 billion net worth, is still debated at home and abroad. Suharto was born in the small village of Kemusuk, in the Godean area near the city of Yogyakarta, during the Dutch colonial era. He grew up in humble circumstances. His Javanese Muslim parents divorced not long after his birth, and he lived with foster parents for much of his childhood. During the Japanese occupation era, Suharto served in the Japanese-organized Indonesian security forces. During Indonesia's independence struggle, he joined the newly formed Indonesian Army. There, Suharto rose to the rank of major ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Takeover
In business, a takeover is the purchase of one company (the ''target'') by another (the ''acquirer'' or ''bidder''). In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company. Management of the target company may or may not agree with a proposed takeover, and this has resulted in the following takeover classifications: friendly, hostile, reverse or back-flip. Financing a takeover often involves loans or bond issues which may include junk bonds as well as a simple cash offers. It can also include shares in the new company. Types Friendly A ''friendly takeover'' is an acquisition which is approved by the management of the target company. Before a bidder makes an offer for another company, it usually first informs the company's board of directors. In an ideal world, if the board feels that accepting the offer serves the shareholders better than rejecting it, it recomm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Placer Dome
Placer Dome Inc. was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada. In August 2005, the company had interests in 16 gold mining operations in 7 countries; it had a market capitalization of $6.7 billion USD (on June 30, 2005). For the year 2004, it had sales of $1,888 million, net earnings of $284 million, and cash from operations of US$376 million. The company was purchased by Barrick Gold in 2006, and was assimilated into Barrick. History Placer Dome was formed in Vancouver in 1987, by amalgamating Placer Development Ltd. of Vancouver (founded in British Columbia in 1926), Dome Mines Limited of Toronto (founded in Ontario in 1910), and Campbell Red Lake Mines Ltd. of Toronto (founded in Ontario in 1944). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Capitalization
Market capitalization, sometimes referred to as market cap, is the total value of a publicly traded company's outstanding common shares owned by stockholders. Market capitalization is equal to the market price per common share multiplied by the number of common shares outstanding. Since outstanding stock is bought and sold in public markets, capitalization could be used as an indicator of public opinion of a company's net worth and is a determining factor in some forms of stock valuation. Description Market capitalization is sometimes used to rank the size of companies. It measures only the equity component of a company's capital structure, and does not reflect management's decision as to how much debt (or leverage) is used to finance the firm. A more comprehensive measure of a firm's size is enterprise value (EV), which gives effect to outstanding debt, preferred stock, and other factors. For insurance firms, a value called the embedded value (EV) has been used. It is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Dollar
The Canadian dollar (currency symbol, symbol: Dollar sign, $; ISO 4217, code: CAD; french: dollar canadien) is the currency of Canada. It is abbreviated with the dollar sign $, there is no standard disambiguating form, but the abbreviation Can$ is often suggested by notable style guides for distinction from other dollar-denominated currencies. It is divided into 100 cent (currency), cents (¢). Owing to the image of a common loon on its reverse, the dollar coin, and sometimes the unit of currency itself, are sometimes metonymy, referred to as the ''loonie'' by English-speaking Canadians and foreign exchange traders and analysts. Accounting for approximately 2% of all global reserves, the Canadian dollar is the fifth-most held reserve currency in the world, behind the United States dollar, U.S. dollar, the euro, the Japanese yen, yen and pound sterling, sterling. The Canadian dollar is popular with central banks because of Canada's relative economic soundness, the Canadian ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Price
A share price is the price of a single share of a number of saleable equity shares of a company. In layman's terms, the stock price is the highest amount someone is willing to pay for the stock, or the lowest amount that it can be bought for. Behaviour of share prices In economics and financial theory, analysts use random walk techniques to model behavior of asset prices, in particular share prices on stock markets. This practice has its basis in the presumption that investors act rationally and without biases, and that at any moment they estimate the value of an asset based on future expectations. Under these conditions, all existing information affects the price, which changes only when new information comes out. By definition, new information appears randomly and influences the asset price randomly. Empirical studies have demonstrated that prices do not completely follow random walks. Low serial correlations (around 0.05) exist in the short term, and slightly stronger cor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. The exchange platform is owned by Nasdaq, Inc., which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges. History 1971–2000 "Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority (FINRA). On February 8, 1971, the Nasdaq stock market began operations as the world's first electronic stock market. At first, it was merely a "quotation system" and did not provide a way to perform electronic tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alberta Stock Exchange
The Alberta Stock Exchange (ASE) was a stock exchange based in Calgary, Alberta, established in 1913. It featured mostly mining, resource exploration, and oil sands stocks. The ASE was the original listing exchange for Bre-X, one of the biggest corporate frauds in Canadian history. On November 29, 1999, the ASE was merged into the Canadian Venture Exchange (CDNX), along with the Vancouver Stock Exchange (VSE) and the minor-cap stocks from the Bourse de Montréal (MSE). The corporate headquarters of the new CDNX remained in Calgary. See also * List of former stock exchanges in the Americas * List of stock exchange mergers in the Americas * List of stock exchanges This is a list of major stock exchanges. Those futures exchanges that also offer trading in securities besides trading in futures contracts are listed both here and in the list of futures exchanges. There are sixteen stock exchanges in the wo ... References Financial services companies established in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
