There's a guy who keeps posting that the Pascua Lama claim filed by ABX isn't good, the map was gerrymandered to show that the ore in that area belongs to ABX, and they jumped his claim or didn't provide fair value when and if he proffered it.
He says he has Supreme Court of whoever,Chile, Argentina, Klingon, ruling to that effect. I don't understand if he has such firepower, why he isn't on the phone to SLW and asking them why are they receivers of material in bad faith when this ruling is on the governmental books.
If ABX doesn't have the authority to sell, I think this guy has a beef with ABX--but the way the law is written is, if SLW is put on notice as a receiver of "stolen goods" they run the risk of liability after the fact whether they knew the issue was debatable from the getgo or not.
The only reason I am bringing this up at all is the overhang this crap represents. This guy either has some level of claim or he doesn't. The courts in S.A have ruled or they haven't.
The guy won, or he didn't.
I'm just so sick of hearing this BS over and over and over to the point of nausea.
Frankly I am worried about the esoteric issue of SLW becoming accessory after the fact--there's an awful lot of that going on, and quite frankly, if I was SLW and had to rely on 25% my income stream Pascuafoobiedoobie, I wouldn't be waiting till I was knee deep in silver streams to straighten this out.
newscentral, im sure if you had knowledge of the Chile ROL and Tribunal you would know the problem SLW is/will face regarding Pascua-Lama is due to the owership problems Barrick is facing. Barrick hasn't had ownership of titles to the Pascua deposit, SLW zipped their lips.
Then feel free to ask him at the CC tomorrow what is SLW's position--all he is commenting on, is the ore flows, not whether or not he is or isn't a legal receiver in due course.
I don't want to beat a dead horse, but kicking back receivables a year, and this court claim, are too coincidental to me, and have my spider sense tingling.
I could be wrong, I'd like to be wrong, but it wouldn't be the first time corps swamped a little guy illegitimately who just happened to be in the way with facts, courts and the truth on his side.
This is really getting to me, and the delay in the mine in question is awfully coincidental to a claim ABX has no right to deliver what courts have viewed are not their property.
"While we did see some temporary shortfalls in production at the Peñasquito mine and a delay at Pascua-Lama, we remain confident in our partners and view both of these assets as core streams which solidify our industry-leading growth profile." Randy Smallwood, CEO, SLW, August, 9, 2012.
The CEO would be asking for 3 hots and a cot if he knows ABX is commiting fraud.
I was at the MSX AGM in January, Jorge L does have title to the pascua claims that ABX has been lying about for 17 years my friends, ABX lawyers in Chilean Court have admitted that they do not hold title and the same lawyer under oath admitted that the amarilo claims are VERY important to the geology of the pascau lama protocol so keep your eyes open for HUGE news coming soon that will put ABX and perhaps Silver Wheaton on the grill for Fraud, knowing that ore body was not owned by ABX when the silver deal was done.
movie at 11
The (SLW) Pascua deal has an escape clause based on any type of failure to deliver, be it via non completion of mine or anything else. Ten minutes on the SLW homepage could easily show the info to anyone willing to look.
This pascua knucklehead on here has been off base and LOUD ABOUT IT. EASY TO IGNORE IGNORAMUS WHO WRITE IN CAPS!!!!!!
You are correct about the clause and SLW will be due 650 million back in cash however SLW is being granted a huge stock premium due to the 9 million ounces for the 5 years following the commencement of the Pascua project.That was just moved forward a year yet again!!! This "growth" is factored into a stock that is not growing and hasnt grown for over a year due to stagnating silver prices.The forward multiple would be far higher meaning the stock should be much lower!1!Analysts are giving a 31 dollar silver price.Silver hasnt traded above 30 for over 3 months and will most likely get washed out under 20 in the comming months when the reality sets in that no more QE is heading our wa!!!
The escape clause, has SLW getting their $600M back less silver streams flowed to date.
That isn't the point.
There's about $7 worth of potential in SLW's back pocket that will suddenly disappear. That's an issue that blows get well payments to smithereens. Of course, ABX could substitute other silver streams, but that is another negotiation, and we see today's silver stream pricing is $5.95 an ounce, not $3.95.
Sorry but, if this were real, get well is like saving the patient without legs and one arm.
You'll see $20 from this level in a heartbeat.