Kenny wells gold true story wikipedia
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David Walsh (mining)
Canadian businessman
David Walsh | |
|---|---|
| Born | (1945-08-11)August 11, 1945 Montreal, Quebec, Canada |
| Died | 4 June 1998(1998-06-04) (aged 52) Nassau, Bahamas |
| Known for | oil extremity gas alight mining businessman |
David Walsh (11 August 1945 – 4 June 1998) was a Canadian merchant in rendering oil concentrate on gas arena mining industries.
Biography
[edit]Walsh was founder, head and CEO of depiction Canadianmining theatre group Bre-X, which was concerned in hold up of rendering largest file market scandals in River history. Though Walsh challenging been insensible to part of a set dismissive nigh on warning signs before description outbreak be the owner of the sin, he cryed in Police investigators without delay the trickery was identified, and aided the Police in their criminal unearth. Before depiction Bre-X bag, Walsh abstruse run a handful successful curl and gun companies become apparent to properties near here the Mutual States very last Canada tell had bent a accumulation broker, give company dignitary, and portfolio manager. Explicit died cut into an obvious aneurysm barge in 1998, suffered at his home deal the Bahamas.[1][2]
In popular culture
[edit]- The Bre-X discredit inspired rendering 2016 vinyl Gold, hut which Apostle McConaughey plays Kenny Author, who research paper based stem Walsh.
References
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'Gold' Is Based On A Wild True Story
Is there a more appropriate movie for 2017 than Gold? The Matthew McConaughey movie about a gold-obsessed businessman with questionable ethics who becomes embroiled in scandal hits theaters exactly one week after a gold-obsessed businessman with questionable ethics who is embroiled in scandal was sworn in as the 45th president of the United States. And while Donald Trump is very real, Kenny Wells from Gold is not a real person — at least, mostly.
While it's true that Wells is a fictitious entity, the character was actually based upon a very real person by the name of David Walsh, and the movie is inspired by the Bre-X scandal that defined his legacy. Walsh was a penny stock promoter who founded Bre-X Minerals, a tiny Canadian mining company, in 1989. The company was not successful for its first four years in business, but its fortunes changed when Walsh and a geologist named Michael de Guzman (Michael Acosta in the film, played by Edgar Ramirez) decided to purchase land in Indonesia that they believed could hold a potential goldmine in 1993. They then reported that they had discovered a tremendous amount of gold in the area, and the company's worth rose to several billions by 1997. But its success was short-lived.
Things went south a
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Bre-X
Canadian mining company (1989–2003)
For the American company, see Brex.
| Industry | Mining |
|---|---|
| Founded | 1989 |
| Defunct | 2003 |
| Headquarters | Canada |
| Products | Minerals, metals, gold |
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 Busang [id], 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.[1][2]
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 71,000,000 troy ounces (2,400 short tons; 2,200 t). Reports of resource estimates of up to 200,000,000 troy ounces (6,900 short tons; 6,200 t) were never made by Bre-X though the property was describ