Gold movie true story

The Bre-X story is largely one of three men: charismatic promoter David Walsh, swashbuckling prospector John Felderhof and Michael de Guzman, gold movie true story, a trusted geologist with a secret life. Montreal-born Walsh went from high school to an investment desk gold movie true story a small trust company. Byhe was making a six-figure salary as head of institutional equity sales for an Ontario brokerage, which transferred him to Calgary. Eventually, he decided to strike out on his own, forming Bresea Resources.

Real life can be stranger than fiction, which is why stories from the news often form the basis of scripts for the big screen. What follows is a series of timelines, photos and newspaper articles that tell the story that inspired the movie Gold , starring Matthew McConaughey. This is the real-life story and scandal of Bre-X. The compilation starts with a story published on the year anniversary of the Bre-X collapse, in which two Postmedia journalists — Suzanne Wilton and Ted Rhodes — went back to the Indonesian jungles where the gold fraud started. Yopinus, a former Bre-X employee, used his machete to hack into the site of the former office, now reclaimed by the Borneo jungle. But a decade after the junior Calgary exploration company imploded, the locals still search for gold. They crush rock with primitive machines, seeking any fragment of precious bullion that the jungle might give up.

Gold movie true story

Matthew plays a money hungry gold-digger in his new movie based on a true story. Truth really can be stranger than fiction and Matthew McConaughey's latest film is a case in point. An employee of Canada's Bre-X Minerals , prospector Michael de Guzman, and John Federhof, a businessman down on his luck, banded together in and emerged from the jungles of Borneo, declaring its soil to be full of gold. McConaughey, who plays the character Kenny Wells, based on Federhof, explains the story that shocked the world. But I understand that phrase 'buy the rumour, sell the news'. Agents can make something sound great and you're on board. Before you know it, you're going, 'I'm in! You're made to feel if you don't get in now, you're going to miss out," he tells news. The scam was so outrageous, so brazen, that no one called into question the credibility of the gold strike. McConaughey nods. It wasn't only Wall Street that was duped. A multitude of gullible investors lost a fortune. It was kind of touchy ground to be talking about it at all," he says. In order for the scam to be realised, de Guzman filed down his wedding ring, extracting enough gold to insert into the rock samples a process called salting and convince geologists his find was authentic. In , when de Guzman's scheme began to unravel, he reportedly threw himself out of a helicopter though the film's depiction is very different in Busang.

Offended by this, Kenny declines the offer and storms out.

Nelson , Stacy Keach and Bruce Greenwood. The film is loosely based on the true story of the Bre-X mining scandal, when a massive gold deposit was supposedly discovered in the jungles of Indonesia ; [4] [5] [6] however, for legal reasons and to enhance the appeal of the film, character names and story details were changed. The film had a limited release in the United States on December 30, , before going wide on January 27, In , Kenny Wells helps to run a prospecting company, Washoe, with his father whom he clearly admires. But seven years after his father dies, the business and Kenny are nearly broke after having lost the office, so Kenny and his colleagues now work from his girlfriend's bar.

It has all of the elements befitting a classic Hollywood tale: mystery, adventure, treasure, greed, corruption, betrayal, exotic locales, plot twists and … gold. Gold, opening in theatres across Canada on Jan. They strike gold, big-time investment bankers and multinational miners come calling, their fortunes soar and suddenly they are the kings of the industry. That is until the dream suddenly turns to nightmare when their gold strike is discovered to be fraudulent since their samples are salted with river gold. But for legal and mass-appeal reasons, the company in the film is not Calgary-based Bre-X, but fictitious Reno, Nev. Though Canadians have long said the Bre-X story played out like a movie script, like most Canadian legends, its juicy plot was little known outside the mining community south of the border.

Gold movie true story

The Bre-X story is largely one of three men: charismatic promoter David Walsh, swashbuckling prospector John Felderhof and Michael de Guzman, a trusted geologist with a secret life. Montreal-born Walsh went from high school to an investment desk at a small trust company. By , he was making a six-figure salary as head of institutional equity sales for an Ontario brokerage, which transferred him to Calgary. Eventually, he decided to strike out on his own, forming Bresea Resources. In , Bre-X hit the capital markets and began trading on the Alberta Stock Exchange at 30 cents per share. The junior exploration company scoured for gold in Quebec and took part in a diamond rush in the Northwest Territories, but the effort amounted to little.

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Silver Not for believers of this theory. Release date. For a geologist so young, it was a coup. The report by Forensic Investigative Associates Inc. Processing material pulled from Busang is even more difficult than getting there. He had boarded the helicopter to head to the Borneo site to meet with miners from Freeport-McMoRan, the company that the government had brought on board to run a large portion of the mine. Freeport can walk away from the deal if the due diligence indicates the project will not produce what was originally estimated, said Kerry Smith, analyst at First Marathon Securities Inc. A week after de Guzman apparently jumped, Dr. De Guzman duped the labs that tested the samples, which verified roughly 3 oz of gold per ton of rock. Try refreshing your browser, or tap here to see other videos from our team. Inset: Bre-X's share price plunges upon the March news that the landmark gold find is likely not true. The stone he pulled from the expanded area was green. Founded in by David Walsh, Bre-X began as a tiny, almost insignificant Canadian company on a quest for greatness.

Real life can be stranger than fiction, which is why stories from the news often form the basis of scripts for the big screen. What follows is a series of timelines, photos and newspaper articles that tell the story that inspired the movie Gold , starring Matthew McConaughey.

Reports state that his body was also handless, footless and faceless Financial Post. Water washes the mixture, leaving a small amount of sediment which is then filtered through a handkerchief. We could have fallen out of the canoe that we were riding in and nobody would have ever found us. The general story of the scandal relayed in the above section is followed over the course of the film as Wells and Acosta become unable to resist the lure of gold and lust for fame, notoriety, and fortune. Retrieved June 29, Instead, the Calgary promoter faked his death and is living the high life elsewhere — maybe with Michael de Guzman. In , Kenny Wells helps to run a prospecting company, Washoe, with his father whom he clearly admires. Advertisement 9. Join the Conversation. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. By the time they did, heat, bugs and animals had left little to help identify the corpse. After the largest gold fraud of the century was exposed on March 26, , Bre-X went bankrupt and its shares became worthless. We apologize, but this video has failed to load.