TITLE FRAUD AT BARRICK AND PASCUA...BARRICK NEVER OWNED THIS MINE
YET THEY SOLD MILLIONS OF OUNCES FORWARD OF GOLD AND SILVER...THIS COMPANY NEEDS TO BE SHUT DOWN NOW..
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 Commissioner 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.”
Doesn't matter how I feel about this.......The FACTS ARE THE FACTS...BARRICK HAS COMMITTED FRAUD AT EVERY LEVEL CONCERNING PASCUA...This company needs the cash from this share sale as a death spiral life vest....If the company was creating loads of free cash flow and had high operating margins would they need to sell 165 million shares at 18? That is an extraordinary amount of dilution at such a low stock price. Look at JCPenney...They had to do the same nonsense right before the stock really cratered. The banks selling these shares are now fighting against natural sellers who are fed up with these frauds at barrick as well as short sellers smelling blood....The banks will also have a hard time finding real buyers so they need to hedge their bets with shorts themselves....When the news hits the wire that the SEC and the Canadian equivalent is investigating Barrick for fraud at this stock will be trading below 10 quickly....