Rumor pushes Bre-X, Barrick

Fri, 14 Feb 1997 | Source: REUTERS

TORONTO (Reuter): The rumor mill surrounding Bre-X Minerals Ltd shifted into high gear again on Wednesday as investors speculated about the outcome of Bre-X's negotiations with its Indonesian partners and Barrick Gold Corp, analysts said.

Bre-X stock was up 0.40 to 22.65 on more than 820,000 shares in early trading in Toronto on Wednesday. The stock rose 1.05 on Tuesday to 22.25.

Barrick was also active yesterday, rising 0.20 to 35.40 on 714,000 shares in Toronto. Barrick and Bre-X have a tentative deal to operate the Busang gold find in Indonesia.

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