Gold movie true story

Real life can be stranger than fiction, which is why stories from the news often form the basis of scripts for the big screen.

No, the real company, Bre-X Minerals Ltd. It was so small that Walsh initially ran it out of his basement. For legal reasons and to make the story more appealing, the movie relocates the company to Reno, Nevada and calls it Washoe Mining Inc. Calgary-based Bre-X Minerals Ltd. While fact-checking the Gold movie, we discovered that the filmmakers transplanted the story to the late s.

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. Felderhof was a boy when his family moved to Canada from the Netherlands in the early s. Athletic, bright and fearless, he gravitated toward geology in university. His taste for adventure eventually drew him to Africa, Australia and Asia. In his late 20s, Felderhof struck pay dirt when he co-discovered the massive Ok Tedi copper-gold deposit in Papua New Guinea. For a geologist so young, it was a coup. Stock options in a junior mining company also made him a paper millionaire during the s. His future looked bright.

Did he escape with a vast fortune?

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!

An allegedly true story emerges as a lackluster riff on American Hustle and The Wolf of Wall Street with a scrappy turn from an overly disguised lead star. On paper the elements are there, but unfortunately the alchemy fails. One moment he is slick and appealing, the next he is a shambling shyster. Wells, who inherits a successful business from his father in the early s, is driven, in Trumpian fashion, to go for big risks. Back home in Nevada, Wells has a group of salesmen wearing loose ties who hang around the bar all day, ready to make phone calls to easily hoodwinked investors. Role of the Year. Well, eventually they hit the motherlode and that means a soaring stock price and interest from New York firms that want to partner in the extraction and movement of what might be the biggest gold strike in decades. We can observe from a distance, but it is extremely difficult to care.

Gold movie true story

Is there a more appropriate movie for 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. 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 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 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 But its success was short-lived.

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Indonesian police took fingerprints, but authorities in the Philippines had difficulty matching them against documents to make a positive identification. Walsh, Felderhof and de Guzman were on top of the world. Tools Tools. The agents also say that both the Indonesian minister and Mike dumped their stocks before the scandal broke and that Mike possessed million US Dollars when he fled. Those living near Busang have been touched by modernization and lost many traditions. In the helicopter, police found a shopping bag with two handwritten notes. Chief geologist de Guzman tragically committed suicide in Goldfingered: In his day, Indonesian President Suharto was every bit as powerful as a Bond-movie villain. So somehow they were in my subconscious; from back in I've been chasing my dreams," he says. This shameful chapter in the history of mining exploited the stock exchange as well as indigenous workers, and left a dark shadow on the glittering face of gold. Advertisement 4. Retrieved August 29, To read more, go to Bre-X: The real story and scandal that inspired the movie Gold.

No, the real company, Bre-X Minerals Ltd.

But I understand that phrase 'buy the rumour, sell the news'. Even in the relative infancy years of the Internet, tales of what might have happened to the gold, the fortune and the key players spread like mad. The ruling did not remove the stain from Felderhof, however. Michael Relton was convicted of laundering and was given a year sentence. Home With The Weinstein Co". In the days following his death, the National Bureau of Investigation in the Philippines had trouble matching his fingerprints and identifying the corpse. Known in the western world as Borneo, Kalimantan is the largest island in the Indonesian archipelago. Even they are effectively cut off from the rest of the world, with no computers, telephones or mail service. Its well-manicured grounds stand in contrast to the squatter town built next to it. Silver His father, Simplicio, earned a good living as a geodetic engineer but there were many mouths to feed.