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Barrick Gold Corporation Message Board

  • bimotakb83 bimotakb83 Aug 9, 2013 11:25 AM Flag

    What is Barrick Gold 's true value without Pascua Lama???

    The Pascua Lama story will play out where Barrick backs away from the whole project under criminal rulings from Chile for fraud followed by many class action suits of real serious proportions over the court rulings where Barrick were shown to be guilty of propagatting a series of fraudulent claims over their Pascua Lama project.
    Silver Wheaton will be in play as well as Royal Gold and the several large banks that were lenders for the project.
    This will come to pass in the next few months so ask yourselves what will be the share values with these negatives for Barrick all coming into play when Barrick is at their weakest!
    It is happening as I write this and we will keep you informed as it does.

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    • I think a most eloquent rejoinder has been made by "newgold", one of JL's ardent supporters on the MSX IHub message board.

      He said in message #17077, "Jorge has title to Mina Pascua NOT Barrick's Pascua-Lama. No one has ever said that Jorge has title to Barrick's Pascua-Lama. Jorge has title to Mina Pascua period."

      Since JL nor MSX have no claim on any part of Barrick's Pascua Lama mine, the lawsuits are more of a nuisance than anything of substance.

      • 1 Reply to mtstack2000
      • Mtstack you fool, Pascua Lama is the deposit of Chile and Argentina, Mina Pascua is just he deposit of Chile, they are two different projects that include the same properties of the Chile deposit. Barrick included AMARILLO 1-3000 and the superimposed concessions of Tesoro 1 1/30 to Tesoro 12 1/5 into their Pascua Lama Project SEC 6K and OSC 43-101 filings even though Barrick doesn't own the rights to exploit the deposit of the Chile side of Pascua.

        Also the above mentioned concession have been affected by a 2001 Chile court injunction with Mr Lopehandia been recently granted certified domain to those areas, including having his name registered on the margins of the Tesoro 1 1/30 to Tesoro 12 1/5 concession as being his legal property. This is something Barrick can not say, yet ABX has fraudulently included the Tesoro 1 1/30 to Tesoro 12 1/5 concession into the Pascua Lama Protocol and SEC and OSC regulatory filings.

        Furthermore, Mtstack has already said the following and he/she "feels" Mr Lopehandia owns 2 million ounces with the injunctioned properties yet Barrick still fraudulently claims ownership of that land in their Pascua Lama Project books. The real truth is that the deposit of Pascua Lama is located on AMARILLO 1-3000 which is now the certified domain of Mr Jorge Lopehandia. What Barrick has is a fraudulent Pascua Lama Project without the Deposit of the Pascua Mine in Chile as proven by Barricks fraudulent inclusion of the injunction AMARILLO 1-3000 and superimposed Tesoro concessions in Barricks Pascua Lama Project books.

        Mtstack2000 quote "When Barrick concluded its extensive exploration program in 1999, they could claim 20 million ozs of gold reserves, which included both the LAC original amount and their newly discovered deposits in the location of their current mine pit in Chile and Argentina. The injunction on the Amarillo/Tesoro claims was put in place in 2001, necessitating the removal of the LAC original 2 million ozs from their reserves leaving the 17.9 million oz to which they now attest. All of the resources that Barrick claims for Pascua Lama are from the, as Mr. Albanez terms it, "new project" in a totally separate location from the original LAC areas. "


        Catalino Albanez Vergara, Ingeniero Ejecución en Minas [T.N.: This appears to mean Mining Enforcement Engineer; hereinafter I.E.M.], Expert Mine Surveyor since 1980 and Court-accredited Expert for the Appeals Court of La Serena, domiciled at “Pasaje Los Olivos 955”, La Serena, hereby states:

        1.-Nevada Mining Company 1994 PASCUA-LAMA PROJECT THE AMARILLOS 1 THROUGH 3000.- This mineral deposit (PASCUA-LAMA project) is located inside of the AMARILLOS 1 THROUGH 3000 mining properties and it is in turn located within the groups of mining properties TESORO FIVE and TESORO SEVEN, where they are located as shown in the report presented to COREMA and the pertinent entities and public opinion for the purpose of obtaining the corresponding sectoral permits for the development of the mineral deposit denominated PASCUA-LAMA, which is complemented with photographs from “GEOGLE” [presumably “GOOGLE”] showing the whole yellow mountain (alteration deposit) which is also mentioned in the official Survey Record, in the chapter entitled “Acceso al HM” [Access to HM]; the same is described in later surveys of the TESORO FIVE and TESORO SEVEN groups.

        CONCLUSIONS REGARDING LEGAL TITLE AUTHORITY AS AT JUNE 15, 2011. To this date there are no valid marginal annotations on these title deeds in the name of Barrick Gold Corporation-ABX of Canada, Barrick Chile or Minera Nevada Limitada, according to an original copy of same which I have before me. The original 2011 copy DOES certify by means of a marginal annotation the litigious rights of Mr. Jorge R. Lopehandia Cortes as the first-claim legal right to title.

        FINAL CONCLUSION The properties LOS AMARILLOS 1 through 3000 and TESOROS should not have been included in the list of mining properties as being the property of BARRICK GOLD CORPORATION-ABX of Canada, due to the fact that these properties have not been nor are they now registered in the name of said firm at the Registrar of Mines of the City of Vallenar, in the Atacama Region, Republic of Chile, in conformity with Chilean law. Moreover, these title deeds could not have been transferred or sold or contracted in any manner whether in Chile or abroad due to the fact that a prohibition is in place, granted by a Chilean Court which prohibits the carrying out of actions or execution of contracts."

        "The largest gold mining company in the world, Barrick Gold and its Chilean subsidiary, Nevada Spa Mining, could lose in the coming months the Pascua deposit worth millions after a series of frauds regarding mining property and repeated poor environmental practices. The deposit is known as the Pascua-Lama, with the name Pascua from the Chilean side, and Lama from the Argentine side.
        Barrick Gold is accused of illegally extracting gold minerals along with outlawed salt and nitrate concessions. The accusations include mining gold from Chile while ignoring a provisional Supreme Court measure that prohibits mining activity and securing new contracts, conducting business in the international bank with “phony” titles, and trying to obstruct justice using false testimony, among others. The accusations have been presented by Chilean mine owner, Jorge Lopehandía, who along with Mountainstar Gold Inc, were granted legal ownership of the Pascua mine in February.

        On February 1, 2013, Alan GS Hultman, the lawyer for Mountainstar Gold Inc, received the Pascua Mine Chile property titles and its mining concessions.

        On January 16, the titles were issued in Vallenar, Chile by the Mines Commissioner, Paulo Cortes Olguín. This grants sole legal jurisdiction over the Pascua Mine area concessions and titles, to Lopehandía, who has been threatened and pressured by Barrick Gold to waive his own rights.
        The titles were authenticated by the Ministry of Justice and the Ministry of Chilean Exterior Relations and have been validated by the Canadian Embassy in Santiago, Chile. This happened after Barrick tried to invalidate Lopehandía’s actions in Canada several times.

        This is a check or almost checkmate for Barrick, because in Chile the only person authorized to grant a valid mining property certificate, or for that matter, who can validate the right [to mining property], is the Mines Commissionar, who in this case is from the the jurisdiction of the city of Vallenar.

        The Mines Commissioner established in a legal document that the concessions of the Pascua Project in Chile: Tesoros Uno 1 al 30 through Tesoros Doce 1 al 5 are in Jorge Lopehandía’s name, making him the valid title-holder from 2013 onward.

        Thus this advance ruling underscores that Barrick Gold Corporation (ABX), or its affiliates in Chile do not have titles nor have they ever had titles for these concessions.
        Secondly, the Commissionar established through the work of Lopehandía’s mining agent, Mr. Villar, that “Amarillos North (12,850 acres) and Amarillos South (8,400 acres) have been Lopehandía’s property since 1996.

        Both Lopehandía and Brent Johnson, his partner from Mountainstar Gold Inc, reiterated their confidence in the Chilean justice system, adding that “all the false declarations made by Barrick executives and their affiliates in Chile in relation to these titles, have given way to criminal chrges, and a call for jail sentences against those involved with the case.”

        Barrick Paralyzed for Damaging the Environment
        In addition, Barrick Gold has been ordered to pay the sum of 2,000 UTM a Chilean currency unit to calculate taxes, fines, and custom duties, close to 120 million pesos or $254,400 USD], a fine issued for irregularities in environmental mismanagement and for not fulfilling its commitments and mitigation measures of the Environmental Ratings Resolution (RCA in Spanish).

        “All mining operations in Pascua Lama are paralyzed,” clarified Mauricio Pino, the Regional Ministerial Mining Secretary of Atacama.

        The above finding was a result of the Atacama General Direction of Waters’(DGA in Spanish) detection of particulate matter in the surrounding glaciers, which the company had unsuccessfully attempted to hide.

        Barrick is accused of failures in the handling of the mine’s wastewater plant, failure in the monitoring of the glaciers located in the Cordillera mountains of the Huasco valley in the Atacama region, and failures in its efforts to avoid transporting material over the glaciers, which threatens their conservation and the sustainability of the water flow in the basin.

        Barrick risks losing its environmental permit from the Environmental Superintendent if it continues to commit these serious infractions.

        It should also be added that in October 2012, work was already stopped by the National Geology and Mining Service (Sernageomin) after they detected that the mines caused pollution and health risks to the workers."

    • bimo..,
      At least try to be original. You said "This will come to pass in the next few months" in refernce to PL fraud. Give yourself and education and review ABX archives from 5+ years ago around the Fall of 08. Bashers then were using the same rhetoric your using today. Your a broken record and laughable. GLTY!

      • 1 Reply to portguyofva
      • Well to be more original than those from the past, there are currently 8 class action law suits re Barrick's forward looking statements from the past . These law sauits are related to the timing as well production numbers from Pacua Lama. Barrick's project is on halt and will never be restarted once the Protocol is canceled or annuled by Chilean authorities. There is a fraud case ongoing by Barbara Salinas on behave of MSX as we speak. Chilean authorities are being educated on the realities of Barrick's fraudulent claims. Barrick have self inflicted environmental problems in order to divert the real problems from criminal to environmental. This is to buy time and allow the players ro realign as things will get real sticky.
        It is my own opinion that Barrick will be broken up into smaller pieces in an effort to mitigate the fallout as well as limit the legal claims against itself from an ever growing hoard of legal vultures.
        When you smell like sewage is nearby there usualy is! In this case it is their management or rather gross mismanagement of the Pascua Lama project,
        Their ex higher level management employees are signing like canarries on a sunny day.
        The project is and has always been a real fraud to themselves as well as their shareholders.
        May those who ave suffered most at Barrick;'s hands be rewarded with some level of truth!

    • low 30's I hope. With PL, 45-50 in 2016. Hope this helps

    • Good post, I see that SLV and ABX have been given cease and desist orders from MSX regarding Pascua, funny thing is neither company has sued MSX for fraud, lol I believe ABX is just buying time while insiders dump shares before the big collapse comes from the Chilean Courts who will jail executives for Fraud sooner then later imo

      • 2 Replies to island_looker

        Mountainstar Gold Inc. (the Company) ( MSX-CNSX) updates its shareholders and investors at large, with the following news from their Chilean lawyer, Ms. Barbara Salinas Acuna.

        Ms. Barbara Salinas Acuna reports that she has presented on behalf of Mountainstar Gold Inc., a criminal lawsuit against the legal representatives of Minera Nevada SpA (Barrick Gold Corporation), to the 7th Court of Guarantee of Santiago, on charges of falsification of public documents and / or intentional malicious use of the same. This is in connection with the issuance of Decree 179 by the Chilean Ministry of Foreign Affairs, relating to the Pascua Lama Protocol between Chile and Argentina, which includes the Tesoros concessions.

        The 7th Court of Guarantee of Santiago, accepted the charges and declared admissible the criminal complaint (case # 1210024016-3) for falsification and / or malicious use of a false public instrument, that the attorney Barbara Salinas along with attorney Alejandro Muñoz presented, representing Mountainstar Gold Inc.

        The lawsuit is against Mr. Derek James Riehm and Ms. Laura Phyllis Maria Emery, both legal representatives of Minera Nevada SPA, which in turn is the Chilean company owned by Barrick Gold Corporation, now suspended for serious environmental offences at Pascua Lama.

        Lawyer, Barbara Salinas, was very satisfied with the acceptance of the charges #111-#112-#113 under the Chilean penal code, by Judge Freddy Antonio Cubillos Jofre, of the 7th Court of Guarantee of Santiago. This first processing step welcomes the complaint and initiates the subsequent criminal investigation by the Fiscalia Centro Norte.

        The complaint centres around the fact that Minera Nevada SPA does not have title to the mineral concessions of Tesoros Uno 1-30 and Tesoros Doce 1-5. The entitled holder of these concessions is Mr. Jorge Rodrigo Lopehandia, joint venture partner with Mountainstar Gold Inc.

        The fraudulent claims by Barrick's subsidiary, Minera Nevada SPA, with regard to the Tesoros titles, become relevant to the Pascua Lama Protocol having being instituted for the purposes of mining under false pretences.

        This new criminal lawsuit, filed by Ms. Salinas on behalf of Mountainstar Gold Inc., coupled with the environmental issues facing Barrick Gold Corporation, suggests that Barrick (ABX) has not acted in accordance with Chilean laws.

      • Island, those were not cease and desist orders, which are issued by courts. Those were cease and desist letters from MSX's attorney's, which have absolutely no force of law behind them. Basically a cease and desist letter states that either the recipient stops doing something that the sender doesn't like or the sender will sue the recipient. Well, they've sued and so what? Neither MSX nor JL have received one cent from Barrick despite all the lawsuits, nor has anyone gone to jail, nor has ABX been halted from trading -- all dire predictions from JL and minions for years. Yet not one of those things have happened.

        Those C&D letters are a year old, and JL still hasn't accomplished anything except the spending of MSX's money. He isn't mining. He doesn't have a technical report. He isn't even drilling exploratory holes. This may be another instance where not one of these things will ever happen.

    • u are now on ignore. You broke my rules I posted yesterday. Ruling is final. Good Bye.

16.53-0.39(-2.30%)Oct 24 4:00 PMEDT