Bre-X geologist's brother pledges to clear up problems
Bre-X geologist's brother pledges to clear up problems
MANILA (Agencies): The brother of the late chief Filipino geologist for a Canadian firm that reported a gold strike in Indonesia said yesterday "everything will be cleared up" after the funeral.
The family of Michael de Guzman flew his body to Manila from Jakarta 11 days after he fell from a helicopter while returning to the Busang gold find he helped to discover in Indonesia's East Kalimantan province for Calgary-headquartered Bre-X Minerals Ltd.
The body was taken from Gatot Subroto Army Hospital in Central Jakarta early in the morning and was put on a Philippines Airlines flight PR-536.
De Guzman, 43, an executive of the Bre-X Minerals, Inc., which has obtained a greater stake in the development of Busang gold mine in East Kalimantan, reportedly committed suicide when he fell out of a helicopter in mid-flight over the Kalimantan jungle on March 19. His body was found in a marsh Sunday and taken to Jakarta Wednesday. Officials said the helicopter was in good condition and one of the letters they said de Guzman left behind said he was suffering from acute hepatitis.
"We would like to bury my brother first," Simplicio (Jojo) de Guzman, who accompanied Michael de Guzman's body from Jakarta, told reporters at the airport. "After that, we will probably have a press conference."
"I wouldn't like to comment on anything at the moment," he said, when asked about reports that his brother killed himself. Queried on letters reported to have been left behind by the geologist, Simplicio said: "Everything will be cleared up after my brother is buried."
"If there is anything in this world, one thing I can tell you is that my brother is not a liar," Simplicio said when asked if his brother left any note that said something about the Busang gold find.
"If he is living right now, he can tell you the gold is there."
The penny-stock Bre-X company became a darling of the Toronto Stock Exchange after it reported the Busang gold strike, which was initially touted as the biggest single find since gold was discovered on South Africa's Witwatersrand late in the 19th century.
Bre-X said early this year the Busang deposit held at least 71 million ounces of gold, worth about $20 billion at current gold prices.
But Bre-X shares were hit after news that de Guzman had fallen out of a helicopter on his way to the Busang property and after a company official said the deposit might not be nearly as big as projected.
"My brother is a very methodical person," Simplicio de Guzman said. "He is very analytical... All these speculations of the gold not being there, it's unthinkable."
Michael De Guzman's wife, Teresa, who was among the family members who accompanied her husband's body on the flight to Manila, was unavailable for comment.