Indonesian Gold. Kerry B Collison

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СКАЧАТЬ Christopher Fielding had commissioned a more detailed survey of the Palangkaraya alluvial leases, but the findings were not significant. The following year, the BGC President had then decided to embark on a comprehensive drilling program of their East Kalimantan areas, the results causing the stock to fall to less than half their par value once overall results had been revealed to the market. The disappointing results left the fledgling mining corporation with few funds and questionable capacity to raise further capital. Christopher Fielding again found himself fighting off creditors, his occasional consultancy contracts subsidizing his half-salary-income paid by the near-insolvent company.

      At the end of the escrow period, Kremenchug and the Baird-Subroto partnership found that their stock was practically worthless, and moved on to other ventures to keep themselves afloat. Kremenchug and Baird kept in touch, both maintaining interests primarily in Kalimantan’s burgeoning mining sector. However, as Indonesia’s gold fever had revitalized interest in prospects Down Under, Kremenchug decided to visit Western Australia where many of his ilk were amassing fortunes, by floating near worthless mining companies. Unable to resist the hordes of speculative investors lining up to be fleeced, Kremenchug headed into the West Australian outback, where he became embroiled with a group of would-be-mining magnates in the small, gold mining town of Meekathara.

      ****

      Chapter Five

      March 1993

       The Philippines

      Sharon Ducay peered through the window, the landscape blurred by sheets of rain. She looked back over her shoulder at the elderly man slumped in an oversized, carved teak and leather chair, and smiled, sadly, then moved to his side. ‘Thank you, General,’ she placed her hand on his, the threat of tears real as her eyes dropped to the black armband he wore on the anniversary of his younger brother’s untimely death. ‘It means such a great deal to me.’ ‘When will you leave?’ he asked, Sharon concerned at how he had aged since his recent illness. ‘Tomorrow,’ she replied, stroking his arm. ‘You will return in time for Easter?’ ‘Of course, General, I wouldn’t dream of missing the holidays with you.’ ‘Are you certain you can’t stay a few more days?’ he pleaded, not at all looking forward to her absence again. ‘I should go, General. The timing is right. Besides, Alfredo will take care of you while I’m away,’ she consoled, referring to her uncle’s muscular manservant who had served under the Filipino officer and then followed him into retirement, at the President’s personal request.

      ‘You should find a young man, get married and settle down,’ he suggested.

      Sharon gave him her customary response. ‘When I find someone like you, General,’ knowing how dearly he enjoyed having her say so.

      ‘I will miss having you here,’ he complained, but they both knew that it went deeper than that.

      ‘I will ring you every day,’ she promised, ‘and Alfredo, to see if you are taking your medicine.’ The General’s wry smile greeted this announcement with a wave of one hand in dismissive gesture.

      ‘Alfredo would be happy to see me gone,’ he lied, enjoying this game they so often played whenever Sharon was to leave.

      ‘General,’ she warned, participating in the charade, ‘if he did so, who would he have to beat so easily at chess?’ General Narciso Dominguex’s once powerful lungs rasped laughter at the thought of Alfredo ever beating him at his favorite pastime. He looked Sharon directly in the eyes, the exchange filled with love.

      ‘Be careful,’ was all he said, and she nodded, squeezing his forearm gently.

      ‘I always am,’ she reassured, confidently. She observed Alfredo waiting at a discreet distance. ‘Now, it’s time for your afternoon nap.’

      The General sighed heavily, tapping Sharon’s wrist softly with his free hand, signaling that he was ready to be led away. Sharon rose, permitting Alfredo with his powerful arms to lift the General to his feet, placing a cane in his left hand, then leading him down the passageway to his sleeping quarters. The aged officer stopped, mid-shuffle, turned with half-bowed head and spoke.

      ‘We will dine together tonight?’ he asked, having forgotten that Sharon had already said so earlier.

      ‘Yes, General,’ she tilted her head, ‘I’ll still be here.’ The old man nodded then permitted Alfredo to lead him the remaining short distance to his room.

      ****

      During the turbulent past decade, Sharon had been witness to considerable change in her country that had, in turn, required that she develop her own networking skills as the destabilized situation threatened established relationships. When Cory Aquino took up the torch of opposition leading demonstrations against Marcos, until finally driving the former dictator from office in 1986, Sharon accepted the inevitable, believing that the General and his associates would be completely cut off by those elected through the phenomenon of People Power. When the seventh President took charge, her office was continuously threatened with insurrection, separatist movements in the south, and a spate of various natural calamities such as typhoons, earthquakes, volcanic eruptions and even floods. Because of this ongoing instability, the General’s former associates managed to maintain some semblance of influence over the new government. The Philippines military, not unlike their Indonesian counterparts, still called the shots regardless of who was in power, and former generals such as Narciso Dominguez continued to enjoy their privileged positions. After six years of experimenting with democracy, General Fidel Ramos replaced Cory Aquino when he won the presidential election in May of that year. Even her uncle had been surprised as, not only was Ramos a protestant in a predominantly Catholic country, but he managed only twenty-three percent of the popular vote.

      It seemed that business circles were satisfied with their new president, the stock market rising significantly as did property prices and inflation. Sharon realized that there were considerable opportunities for promoting mining ventures in the Philippines, and her interest in the stock market grew by the day. The country’s mining fraternity boasted that there were viable deposits of nickel, zinc, copper, cobalt, gold, silver, iron, and even chromite but, as these had not been seriously investigated, Sharon found herself traveling extensively searching for foreign investors who might be interested in exploiting these resources. Unfortunately, her endeavors were unsuccessful as the mineral exploration in neighboring Indonesia continued to produce frequent, new discoveries of extremely high traces of gold, resulting in a lackluster response to her entreaties. She had gathered groups of local miners and flown to Jakarta in her attempts to drag visiting mining investors back to her own shores. A number of smaller companies did arrive, but not nearly in large enough numbers to create anything like the minerals boom which continued to grow in Indonesia.

      Frustrated by falling interest in her country’s deposits, Sharon started looking elsewhere for her own El Dorado, finally convinced that her fortunes lay not in the ground, but by what was perceived to be there. She threw herself into studying the stock market and trading, concentrating on mining companies that were basically in the general exploration game, amazed at how easily many of these had raised capital. Sharon compared the different markets, examining mining prospectuses, monitoring results with growing astonishment, as speculative, public floats were frequently oversubscribed, the millions pouring into operations that were, in her opinion, highly questionable. She visited Canada and Australia to discover for herself why these countries were so active in Indonesia, keen to identify parties she could work with – convinced that the right people for her own operation could be found there. Then, after almost two years in the planning, Sharon Ducay was ready. She laid her plan out for her uncle’s consideration, and he had unhesitatingly agreed.

      Tomorrow, СКАЧАТЬ